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Land for sale
West Street, Portchester, FAREHAM
£925,000
West Street, Portchester, FAREHAM
£925,000
Our Summary
- SUMMARYAUCTION SALE 16 April 2024 - > Freehold roofspace development scheme with planning > For 30 apartments - 18 x 1 bed, 11 x 2 bed and 1 x 3 bed > Ideal build to rent scheme in town centre locationDESCRIPTION*** TO BE SOLD BY PUBLIC AUCTION ON 16TH APRIL 2024 AT THE GRAND CONNAUGHT ROOMS, 61 - 65 GREAT QUEEN STREET, LONDON, WC2B 5DA (Online bidding available) ***TenureFreeholdLease DetailsThe ground floor commercial units have been sold off on 999 year leases from 2020
- DescriptionThis freehold property is being sold with planning permission for the part conversion and new build of the first and second floors to create 18 x 1 bedroom 11 x 2 bedroom & 1 x 3 bedroom apartments
- This represents an ideal investment opportunity or build to rent scheme in a central location
- Planning detailsPlanning permission was granted subject to conditions by Fareham Borough Council under application number P/21/0899/FP on 15th February 2022 for the conversion of first floor and addition of 2 further storeys to create 30 flats with partial conversion of ground floor to provide access
- All prospective purchasers are advised to have made all enquiries over the status of the planning permission along with the path, availability and capacity of all required services prior to bidding
Description
This freehold property in Porchester town centre has planning permission for the conversion and new build of the first and second floors to create 30 apartments, including 18 one-bedroom, 11 two-bedroom, and 1 three-bedroom unit. The property offers an ideal investment opportunity or build-to-rent scheme in a central location, with easy access to travel networks and local amenities. The planning permission was granted with conditions by Fareham Borough Council, and the site also carries a CIL liability and nitrates contributions, which will be the buyer's responsibility to pay. The guide price is not a valuation or assessment of the property's value, but rather an indication of the region at which the reserve may be set.