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ref: 24175

FOR SALE: Residential Development Opportunity, Rugby | 59 Unit Consented Site

Available
Marketing
Price
£1,400,000 (€1,596,700 approx)
Location
Webb Ellis Place, Woodside Park, Rugby, CV21 2NP
Property Type
Development Opportunity
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KEY FEATURES



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Rugby Railway Station (300m from the property) offers great rail connections to key cities with the following journey times:
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- London Euston - 48 mins
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- Birmingham New St - 35 mins
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Planning consent granted for a 44 unit new build residential development and a 15 unit
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Permitted Development conversion of existing, vacant, office building.
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No affordable housing required with planning conditions fully signed off by Local Authority.
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The development will incur Section 106 costs totalling £87,440.
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Freehold for sale with vacant possession.
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Available for sale either by
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whole (offer invited in excess of
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£1,750,000) or in separate lots
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(by separate negotiation).

DESCRIPTION


The site is 2.33 acres in size, comprising four, three storey brick buildings and hardstanding / parking area. The site has two vehicular and pedestrian access points from Woodside Park. The site comprises four former office buildings, three of which have already been converted to residential apartment blocks and have been sold off. The fourth, Buildings 8, 9 and 10, has consent under Permitted. Development Rights for conversion into 15 self-contained apartments. The new 44 unit new build residential development is located directly to the northeast of this.


LOCATION


The site is located approximately 300 metres to the west of Rugby Railway Station, on the southern side of the railway track and within close proximity to Rugby town centre. Direct trains to London Euston have a fastest journey time of 48 minutes whilst trains to Birmingham New Street take approximately 35 minutes. At peak times there are six trains an hour to London and five trains an hour to Birmingham. Rugby is approximately 11 miles east of Coventry and 28 miles south east of central Birmingham. The site is accessed from Woodside Park which leads off Wood Street and the A426. The A426 is the main north/south road through Rugby and provides access to the M6 and M45 which, in turn, provide access to the M1.


PLANNING


Full planning permission given by Rugby Borough Council for 44 new build residential scheme comprising 2 x studios, 33 x one bedroom flats and 9 x two bedroom flats. (Planning ref. R16/0659) in March 2016. Further consent for Permitted Development Rights of Buildings 8, 9 and 10 for a 15 unit scheme comprising 9 x one bedroom flats, 6 x two flats. (Planning ref. R15/2393) in November 2015. There will be one parking space per flat. There are no pre-commencement conditions so a developer can start building immediately. The development will incur Section 106 costs totalling £87,440. The property is not liable for CIL.


TENURE


Freehold.


TERMS


Available via private treaty.


VAT


Not elected for VAT.


LEGAL COSTS


Purchaser to bear their own legal costs.


BID DATE


The vendor at this stage is inviting offers via Private Treaty.


Misrepresentation Act
Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. 26/04/2019

Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is a limited liability partnership registered in England and Wales with registered number OC385143. Our registered office is at 50 George Street, London W1U 7GA.

Copyright (c) 2019 Colliers International Property Consultants Limited. Company registered in England & Wales no. 7996509.
Registered office: 50 George Street, London W1U 7GA  Tel: +44 20 7935 4499