Development Opportunity

Residential development site with outline planning permission for 140 dwellings. Extending to 16.81 acres (6.80 hectares) or thereabouts.

LOCATION
The land at Leicester Road is situated to the north of the small town of Earl Shilton, about 8.5 miles South West of the city of Leicester and adjoins open countryside to the North. Earl Shilton is about 4 miles North East of the larger town of Hinckley and offers a very good range of local amenities including banks, post office, Co-op food store and hospitality venues. There are railway stations at Hinckley, Leicester and Nuneaton (6 miles). Access to the Midlands road network is very good with the A5 about 5 miles to the South West which in turn gives access to the M69 at Junction 1. The M1 / M69 junction is about 7.5 miles to the East.

TRAVEL DISTANCES
•Earl Shilton – 600m
•Hinckley– 4.5 miles
•Leicester – 8.5 miles
•M69/M1 Junction – 7.5 miles

DESCRIPTION
The site comprises a gently sloping greenfield site in three principal enclosures all currently laid to grass. The boundaries between the fields generally comprise traditional hedges and these are incorporated into the outline planning permission as linear landscape features. The plan within these details shows the master plan which has been approved by the local authority. This includes a field to the west (hatched red on the plan overleaf) which doesn’t form part of the planning consent and is being retained by the owner. This land was included in an earlier application by Gladman for 190 dwellings which was withdrawn following consultation with the LPA. Relevant indemnities will be required between the purchaser and the owner with regard to S.106 contributions.

The net development area is about 8.52 acres (3.54 hectares) with the remainder being POS. The site is self contained with no offsite works required apart from those in the public highway. Primary vehicular access will be from Leicester Road as can be seen from the masterplan but there is a network of rights of way through the site which will enable pedestrian access out to Keats Lane and easy access to the town centre and schools etc. The land shown hatched orange on the masterplan has planning permission for an affordable housing scheme and is owned by Midland Heart.

PLANNING STATUS
Planning permission was granted by Hinckley and Bosworth Borough Council in July 2022, reference 21/00135/OUT. All relevant planning documents are available in the online data room. A section 106 Agreement has been signed and contributions will be finalised on the grant of reserved matters but are estimated to be in the region of £1.2m

INFORMATION PACK
A detailed information pack with all available reports and planning documents is available in the data room. This also includes a topographical survey, phase 2 ground investigation report and archaeological reports. For access to the data room please contact James Collier at Howkins and Harrison LLP, james.collier@howkinsandharrison.co.uk or Julian Hamer at Gladman, j.hamer@gladman.co.uk.

SERVICES
Comprehensive replies to service enquires are in the dataroom

AFFORDABLE HOUSING
The section 106 Agreement provides for 28 affordable housing units comprising 21 for social or affordable rent and 7 for intermediate tenure.

NEW BUILD COMPARABLES
Avant Homes are actively selling on their Sheltone Park development at Heath Lane, on the North side of Earl Shilton to the West of the Leicester Road site. Currently they have 3 & 4 beds ranging from £225,000 to £404,950.

Bloor Homes are actively selling at Hollycroft Grange, Hinckley and have various plots available ranging from 3 bed semi-detached at £270,000 (approx. 800sq.ft.) to 4 bedroom detached at £470,000 (1,430sq.ft.).

Taylor Wimpey are actively selling on their Meadow Green Development at Watling Street, Nuneaton with 2 & 3 beds available from £230,000 to £332,000.

Redrow are actively selling at their Heritage Fields development on Watling Street, Nuneaton with 3 & 4 bedroom homes from £313,000 to £515,000.

METHOD OF SALE
Offers are invited for the whole site on a freehold basis. Priority will be given to unconditional bids. The land is freehold and vacant possession will be available on completion.

LEGAL MATTERS
Title details are available in the data room

RANSOM STRIP
A ransom strip 300mm wide will be retained along the Northern boundary of the land.

COVENANTS
The seller will expect the buyer to agree a restriction on the POS land against residential development, or alternatively a clawback mechanism.

RETAINED RIGHTS
The seller will reserve rights to connect the retained land (shown hatched red on the plan) to roads and services on the site and bidders should allow for increased capacity in the services on site for a minimum of 30 additional dwellings on the retained land. Rights will also be retained to connect other retained land to the site services.

TOPSOIL
The land hatched red on the plan may be available for spreading surplus topsoil, but this will need to be negotiated separately at commercial rates. Please contact the agent for further information.

BIDS
Bids are to be submitted by 12 noon on Friday 29th September 2023. Bids should be sent simultaneously on email to james.collier@howkinsandharrison.co.uk and j.hamer@gladman.co.uk.

VAT
The vendors have opted to tax and VAT will be payable in addition to the purchase price.

Viewing Arrangements
Strictly by prior appointment via the agents Howkins & Harrison Tel:01827-721380

Local Authority
Hinckley and Bosworth Borough Council , Hinckley Hub, Rugby Road, Hinckley, LE10 0FR - Tel: 01455-238141

CONTACTS
James Collier
Howkins and Harrison LLP
15 Market Street, Atherstone, Warwickshire, CV9 1ET Telephone: 01827 721385 / 07747 635425
Email: james.collier@howkinsandharrison.co.uk

Jeff Paybody
Howkins and Harrison LLP
7-11 Albert Street, Rugby, Warwickshire, CV21 2RX Telephone: 01788 564686
Email: jeff.paybody@howkinsandharrison.co.uk

Julian Hamer
Gladman House, Alexandra Way, Congleton Business Park, Congleton, Cheshire. CW12 1LB
Telephone: 01260 285650 Email: j.hamer@gladman.co.uk