>
Eastern Road, Bracknell Residential development for sale
Eastern Road, Bracknell
£4,000,000
Eastern Road, Bracknell
£4,000,000
Our Summary
- The sellers have paid all the preplanning requirements and therefore this scheme can be commenced immediately
- "Freehold development site"Planning permission granted for a contemporary 60 apartment scheme"No onsite affordable"Central location less than half a mile from the town centre"Possible SPV sale subject to agreement"38 x 2 bed and 22 x 1 bed apartments"Proposed GIA 42,211 sq ft (3,921 sq m)"VacantProposed accommodation:38 x 2 bedroom apartments each with en-suite facilities off the principal bedroom
- Total Gross Internal Area 42,211 sq ft (3,921 sq m)PlanningPlanning permission has been granted by Bracknell Forest Council (ref 16/00626/FUL 22nd June 2016) for the redevelopment of the site to provide 60 residential units within a part-three, four and five storey building (plus basement car parking) with associated amenity space, landscaping, car parking, refuse stores and foot/cycle path link
Description
This is a freehold development site with planning permission granted for a 60-apartment scheme, consisting of 38 two-bedroom and 22 one-bedroom units, all with direct outside space and no onsite affordable housing. The site is located in a central area, less than half a mile from the town center, and has underground parking for 64 vehicles. The sellers have paid all pre-planning requirements, allowing the development to commence immediately. The property is held in a Special Purpose Vehicle (SPV) and the sellers are open to either an outright sale or a joint venture. The SPV has losses of around £3 million, which the buyer could potentially take advantage of, subject to their own due diligence.