Land off Lantern Lane, East Leake, Rushcliffe Borough Council
Land comprises 35.3 acres (14.29 hectares) approximately (Gross)
Land comprises 15.7 acres (6.37 hectares) approximately (Net)
Outline planning permission granted for the erection of up to 195 dwellings with public open space, landscaping and sustainable drainage system (SuDS) and vehicular access point from Lantern Lane.
Site Description The site is approximately 35.3 acres (14.29 hectares) (gross) and is predominantly greenfield and used for agricultural purposes. East Leake is an attractive and popular location with a population of 6,790 (2014 Census). The settlement possesses a good range of local shops and associated facilities, with a primary school and GP surgery based within the settlement.
The average selling price of properties within the LE12 postcode 9£320,000 over the past 12 months) reflects its popularity; both with local buyers, but also with commuters from the surrounding economic and population centres.
Planning Permission Planning Permission was obtained via a decision from the Planning Inspector, after being refused at planning committee on concerns regarding sustainability and the impact on the character of the surrounding area of the 27th September 2017. The Planning Inspector resolved to allow the planning appeal and outline planning permission was obtained on 18th July 2018.
The Planning Inspector approved the Outline Planning Permission for the erection of up to 195 dwellings, with public open space, landscaping and sustainable drainage system (SuDS) and vehicular access point from Lantern Lane.
Unilateral Undertaking A Unilateral Undertaking has been completed and details the following planning contributions: • Bus Service Contribution - £100,000 • Bus Stop Contribution - £32,500 • Healthcare Contribution – Formula in UU • Council Monitoring Fee - £4,368 • Off-site Outdoor Sport Contribution - Formula in UU • Primary School Contribution – Formula in UU • School Crossing Contribution - £30,000 • Secondary School Contribution - Formula in UU • Travel Plan Management and Review Fee - £7,500 These contribution will be the responsibility of the purchaser and due consideration should be made within any offer.
Affordable Housing Please allow for 20% affordable housing with a tenure split of 39% Affordable Rented, 19% Social Rented and 42% Intermediate Housing.
Further details on this element of the development, including offers from locally active RPs for the completed units will be supplied and uploaded to the Data Room on or before the offers due by date. This information is provided to inform offers and we advise prospective purchasers should also seek their own assurances in this regard.
Phase II Site Investigation A Phase II Site Investigation has been commissioned and it is the intention that this report will be circulated prior to the offer date.
Any associated costs arising from the site investigations (if any) above standard construction costs should be included within any offer to arrive to a net land value.
Data Room & Information The provided link and login details gives access to the complete suite of technical reports and surveys which were submitted to Rushcliffe Borough Council as part of the planning application process. Title and registry details, utilities information and approved drawings are also provided.
The Data Room will be updated following receipt of a Phase II Site Investigation and Affordable Housing Report which has been commissioned, and any other additional information to inform bids.
An agreed list of reports and surveys will be assigned to the purchaser on legal completion and a Letter of Reliance will be provided from external consultants confirming the use and reliability of the relevant reports.
Method of Sale The site is being offered to a shortlist of developers on a subject to contract basis and any conditional offers must clearly state any conditions attached to their offer and a list of any assumed abnormal costs allowances.
Preference will be given to unconditional offers with no deferral and of course any terms and conditions should be clearly set out in an offer letter. The land shown edged red on the legal plan will be sold freehold with vacant possession on completion.
Offers are to be submitted to Karl Edwards at Gladman Developments and James Warne at Bentons by email by 12 Noon, Friday 7th December 2018
Legal Costs The purchaser will be expected to give a legal cost undertaking of up to £20,000 in the event they withdraw from the transaction following agreement of heads of terms and issuing of the contract documentation.
VAT Gladman Developments Ltd and the owners have elected to charge VAT and this will be payable by the purchaser on legal completion in addition to the purchase price.
Purchaser Obligations The Purchaser must account for the installation of a fence along the 310 metre northern boundary of the site. The fence will need to be inclusive of posts with sheep netting and two strands of barbed wire along the top of the fence.
Retained access for agricultural purposes will be required along Lantern Lane.
Furthermore, water services are required into the retained land to the north of the scheme.
Contact Details Karl Edwards – Gladman Developments 01260 288928 email@example.com
James Warne – Bentons 01664 563892 07967 040627 firstname.lastname@example.org
James Ottewell – Alexander Bruce 01332 864814 email@example.com