Auction House London

Lot 27

Residential Development - Commercial Property 

Former Water Tower and Land

Goldstraw Lane, Newark, Nottinghamshire, NG24 3FD

Sold for £145,000

A Former Water Tower with Land Measuring Approximately 0.37 Acres. Offered With Planning Permission for Conversion to Provide Two Apartments together with 11 Additional New Build Apartments.

Description

The property comprises a 26 metre high former water tower together with surrounding land. The site is L shaped and measures approximately 0.37 acres.

Tenure

Freehold

Location

The property is situated in the established residential area of Fernwood, aproximately 2 miles south of Newark. Shops and amenities are found close by. Numerous local parks are within easy reach. Transport links are provided by Newark Castle Rail Station.The town is also served by the A1, A46 and A17 trunk roads.

Planning

Newark and Sherwood District Council granted the following planning permission (ref.18/00474/FULM) on 7th September 2018 for:
"conversion of existing Water Tower into 2 dwellings (apartments), with 11 additional new build apartments on the same site."

There is a document on the planning portal which suggests the section 106 contribution will be £42,968. This is merely a recommendation and the Newark planning department have confirmed that this is not applicable for the development. There is also no affordable housing allocated to the site and no CIL paymet due.

The site also has lapsed planning consent for the proposed conversion and extension of the building to create a restaurant and bar (A3 and A4 Use).

Additional Fees

Administration charge: £1,200 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

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Due to government guidelines, we will not be hosting Open House Viewings For further information, please register for the legal pack. For all enquiries, please contact Russell Taylor on Russell@auctionhouselondon.co.uk
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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