Residential development opportunity - 12 Houses and 6 Flats
Location
Portsmouth is the second largest city in the county of Hampshire and a major coastal port situated on the South Coast. The city benefits from excellent road connections with the national motorway network. The site is close to London Road, which is an arterial route through Portsmouth, with the M275 accessed via the Rudmore junction and Kingston Crescent. The site benefits from good public transport links with multiple bus companies operating routes along London Road, and there are regular trains from Portsmouth to London Waterloo, operating from Fratton mainline station, which is 1.5 miles to the south.
The site is situated to the rear of the main commercial centre of London Road, North End and is immediately to the rear of Sainsbury’s. The site is therefore well located in terms of accessibility, but also is very close to other retailers including Boots, Specsavers, Iceland, Lidl, Aldi, Subway, Barclays Bank and many more.
Accommodation
Development
1* - 4 Bed Semi Detached House - 147 sq m
2 - 4 Bed Terraced House - 162 sq m
3 - 4 Bed Terraced House - 164 sq m
4 - 4 Bed Terraced House - 162 sq m
5 - 4 Bed Semi Detached House - 147 sq m
6* - 3 Bed Semi Detached House - 106 sq m
7 - 3 Bed Terraced House - 108 sq m
8 - 3 Bed Semi Detached House - 107 sq m
9* - 1 Bed Flat - 50 sq m
10* - 1 Bed Flat - 43 sq m
11 - 1 Bed Flat - 50 sq m
12* - 2 Bed Maisonette - 86 sq m
13 - 1 Bed Flat - 50 sq m
14 - 2 Bed Terraced House - 74 sq m
15 - 2 Bed Maisonette - 98 sq m
16 - 3 Bed Semi Detached House - 99 sq m
17 - 3 Bed Terraced House - 99 sq m
18 - 3 Bed Semi Detached House - 99 sq m
A copy of the Section 106 Agreement is available detailing the requirements for 5 dwellings to be provided as units of affordable housing (as indicated *)
Terms
Terms & Tenure
The freehold (PM11878) is available, subject to vacant possession. Price on application. The site is not registered for VAT.
Planning
The site benefits from two planning consents (Planning Reference 16/02107/OUT and 16/00606/FUL) for the demolition of the existing buildings and development of 18 dwellings, with on-site parking.
EPC
We understand the property has an EPC rating of C.
Business Rates
Rateable Value (2017): £10,000.
As the RV is below £12,000 we believe 100% small business rate relief is possible.
Legal Fees
Each party to bear their own legal costs incurred.
Specification
- Well located site close to local amenities
- Site extends to 0.74 acres
- Limited supply of new residential accommodation available
- Freehold
- No VAT
- On-site car parking
- Good access to the M275
- Close to the main bus routes
- Potential for a gated community