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Plot for sale
St. Peters Crescent, Selsey, Chichester, West Sussex, PO20
£1,000,000
St. Peters Crescent, Selsey, Chichester, West Sussex, PO20
£1,000,000
Our Summary
- A former care home with planning permission to convert and provide additions to create 20 dwelling units, comprising, 18 x 2 bed apartments (11408sqft)2 x 1 bed apartments (1123sqft)2 x 2 bed houses (1572sqft)The building sits on an overall plot size of 0
- Full application can be viewed by visiting the planning portal at Chichester District Council with ref 25/00142/FUL
- LA Contributions as follows (please ensure to make your own checks to confirm the numbers we have been provided with)CIL £267kS106 £107k for A27S106 £19k for SPABNG £36kAffordable Overview - Offsite contribution has been agreed at £21kExisting Build Area - 15597sqft / 1449sqmProposed Build Area - 16340 sqft / 1518sqmThis development site offers a great opportunity for those developers wishing to build and re-sell or those wishing to retain for rental yields (at circa £280,000 per annum)
Description
This property is a former care home with planning permission to be converted into 20 dwelling units, comprising 18 two-bedroom apartments, two one-bedroom apartments, and two two-bedroom houses. The property sits on a 0.8-acre plot with direct access to St. Peter's Crescent, just a mile from Selsey's seafront and high street. The development offers a great opportunity for developers to build and re-sell or retain for rental yields, with potential annual rental income of around £280,000. The property has been valued at between £5 million and £5.25 million, with independent re-sales guidance provided. The sale includes planning permission, and the option to purchase the LTD company that owns the building is available. A full marketing pack with plans, images, and documents is available upon request.