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Land for sale
Land East of Braithwaite Place, Burnham-On-Sea, Somerset, TA8
£2,000,000
Land East of Braithwaite Place, Burnham-On-Sea, Somerset, TA8
£2,000,000
Our Summary
- The housebuilder is working to promote the land into Somerset Council's forthcoming Local Plan, with the aim of submitting a planning application in the years to come
- The subject land makes up over 15% of the land being put forward for development and is a crucial piece with a central position that is adjacent to housing
- The subject land is to be sold Freehold, with the benefit of the landowner's agreement and purchase agreement (subject to planning)
- This investment opportunity gives a purchaser the chance to benefit from a substantial upswing in price once the PLC housebuilder achieves its planning consent and exercises its option to purchase
- PLANNING Discussions for the development of the consortium land have been ongoing for some time, with the existing Local Plan outlining the land as a potential area for future growth
Description
The property description describes a 35.38-acre plot of land located in Burnham-on-Sea, Somerset, which is part of a larger agreement between landowners to develop over 200 acres for residential expansion. The land is currently let to a local farmer on a Farm Business Tenancy and has the benefit of access via Braithwaite Place. The landowner consortium has agreed terms with a PLC housebuilder to promote the land for development, which is expected to include over 2000 new homes, schools, infrastructure, and improved flood defenses. The housebuilder is working with Somerset Council to allocate the land for development in their forthcoming Local Plan. The property is offered for sale without any ransom strip or development overage and is subject to a purchasing agreement and landowner's agreement. Offers are invited for the land on the basis that the existing agreements will benefit the new owner.