Property description

Consented for the demolition of the existing buildings and construction of a three storey block of 36 Private Flats.
Summary
The property currently comprises 1980?s buildings partly demolished.

At the planning committee meeting on 24th May 2016 it was resolved to grant approval (subject to legal agreement) for planning application ref 15/01832/OUT for 28 one bed and 8 two bed private flats.
The site extends to c.0.5 acres.
Location
South Road is a third of a mile to the south of Luton town centre in a mixed area comprising residential, retail and commercial use in a range of mixed buildings from single to three storeys in height.
Planning
The planning approval is for the demolition of the existing buildings and the construction of a three storey block of 36 flats comprising 28 one bed, 8 two bed flats and 11 parking spaces under planning ref 15/01832/OUT.
Planning consent was granted subject to a s106 agreement or Unilateral Undertaking to secure financial contributions towards affordable housing and infrastructure improvements (education, museums and waste management). The vendor will be responsible for all payments arising from this condition.
The CIL regulations and payment scheme has yet to be implemented by Luton B.C.
Services
We believe that mains water, gas, electricity were connected to the existing buildings and are available in South Road but prospective purchasers must satisfy themselves with respect to availability and adequacy of supplies to serve the new flats.
Existing Wayleaves, Easements and Rights of Way: The land/property is to be sold subject to and with the benefit of all wayleaves, easements and rights of way whether or not mentioned in these details.
Tenure
The site is to be sold freehold.
Terms
Guide price: Offers invited in the region of £2,000,000
Conditions of sale:
i) The purchaser is to exchange unconditional contracts within 20 working days from when their solicitors receive draft contract documentation.
ii) Legal completion to take place within 20 working days from exchange.
iii) The vendor is to pay any commuted sum in lieu of affordable housing and s106 costs.
iv) Compass New Homes are to be retained as sole selling / letting agents for the new units (at terms to be agreed).
Contact Malcolm or David in Compass Land and Development on 01234 351577
Compass Land & Development for themselves, and for the vendors of the land, whose agents they are, give notice that; (A) These particulars are produced in good faith, but are set out as a general guide only and do not constitute any part of a contract; (B) No person in the employment of Compass Land and Development has any authority to make or give any representation or warranty what so ever to the land June 2016. These details are presented subject to Contract and without prejudice.

Property Features :

• Residential development site
• The site extends to c.0.5 acres
• Planning application for 28 one bed & 8 two bed flats
• Mains water, gas & electricity available