Potential development site at 29-33 Clophill Road, Maulden, Bedford, MK45

1 /2
Available / For Sale

Land for sale

£7,000,000

Floorplan

''SUPERB POTENTIAL RESIDENTIAL DEVELOPMENT SITE OFFERED SUBJECT TO PLANNING APPROVAL''Offered for sale subject to planning approval, is this superb, potential residential development site located on Clophill Road in Maulden, Bedfordshire. An excellent opportunity to acquire land extending to c.5.93 acres (2.4 ha) on a conditional basis, with planning submitted for residential development having indicative layout detailing 25 dwellings and five large Custom/Self-Build plots.IN BRIEFThis site is offered for sale subject to outline planning permission with an indicative layout detailing 25 residential dwellings and five large Custom/Self-Build plots.The land extends to c.5.93 acres (2.4 ha) and is located in a non-estate setting benefitting from an open outlook to three sides and there is a also a 30% affordable housing requirement.A full technical pack and copies of all planning drawings and reports are available in a Dropbox. A legal pack will also be made available.LOCATIONThe sought after Central Beds village of Maulden is located just off the A507 close to the villages of Ampthill & Clophill and offers easy access to the A6, M1 (J.13) and Midland Mainline station at Flitwick.The village benefits from a range of local facilities and amenities including a shop, pubs /restaurant and a lower school.DEMOLITIONThe vendors will demolish any existing buildings as required, to facilitate the access road.PLANNING & DEVELOPMENTThe land is currently designated for employment under Policy EMP4(10A) of the Mid Bedfordshire Local Plan First Review (2005) and Policy EA7 of the Site Allocations Plan 2011. Since the previous application for this land (CB/18/01385/OUT) was withdrawn, it has been included in the list of sites in Appendix 4 of the now adopted Local Plan to which Policy EMP2 applies. This states: Sites identified within Appendix 4 will be considered favourably for alternative, non-employment generating uses. The principle of residential development is therefore supported by adopted policy.An Outline planning application reference CB/22/00588/OUT was validated on 22nd February, this is for a development comprising demolition of existing commercial building and erection of up to 30 dwellings, together with all ancillary works. All matters reserved except access. From recent discussions with CBC Planning department, it has been indicated the application will be determined at Planning committee meeting to be held on 25th January 2023, a positive recommendation is expected.The indicative layout indicates the units/ accommodation detailed in our accompanying schedule. It is believed the Custom/Self-Build plots could accommodate dwellings up to 4,000 ft2.Note: A sketch layout was previously produced detailing 51 dwellings.SECTION 106 There will be a required payment of 527,709 (17,590 per plot), a copy of the draft agreement will be available on request. SITE WORKSThere are two historic foundations on part of the land (each c5m in length) which were excavated some years ago to keep a previous Commercial planning consent live.NOTE: With any future reserved matters application, the vendors will require the purchaser within their development layout (as current layout or if amended), to facilitate road access to the land adjacent to the western boundary, together with them retaining full rights for access, extension of statutory services and drainage.PLANNING DOCUMENTSAll planning documents are available in a Dropbox, please contact Compass for details.SERVICESIt is believed that all mains services are available to serve the new development but prospective purchasers must satisfy themselves with respect to availability and cost of connection.WAYLEAVES/RIGHTS OF WAYThe site is sold subject to all Wayleaves and Easements. There is a restricted right of way at the rear of the land (as detailed on the layout plan) which will need to be maintained.TENUREThe site is to be sold freehold.SALES VALUESProjected sales value recommendations can be provided on request from Compass.VAT The vendors will not be electing to charge VAT on the sale price.VIEWINGSStrictly by appointment via Compass Land and Development. Please call to arrange. CONTACTDavid Donnelly or Mark Sheffield - Compass Land & DevelopmentTERMS & CONDITIONS OF SALEConditional offers are invited, by Friday 27th January 2023, subject to planning and contract for the scheme submitted.CONDITIONS OF SALE:1. The purchasers are to exchange conditional contracts within 6 weeks from the date their solicitors receive draft contract pack.2. Legal completion is to take place within 4 weeks from receipt of planning consent, but must be no later than 31st March 2023.3. Compass New Homes are to be retained as sole selling agents by the purchasers, for the resultant new homes (at terms to be agreed).Compass Land and Development for themselves and for the vendors of the property, 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 whatsoever in relation to the property. These details are presented Subject to Contract and Without Prejudice. The vendors reserve the right to amend specifications without prior notice. DECEMBER 2022.

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )

Return on Investment

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£
£
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Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 6178950

Mortgage Loan to Value

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Gross Yield

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Annual ROI

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Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 175000
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

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The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.

£

This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.

£

Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.

£

This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.

Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.

Annual Costs

£ 928950
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
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  • Letting Fee
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  • Maintenance
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  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

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This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.

Total Profit

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  • Final Equity Profit
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    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
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Final Property Value

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