Land for sale

£1,000,000 Sale by Tender

Opportunity to acquire this potential development site, available unconditional or on a subject to planning basis for a scheme of c10 dwellings. The total site extends to 0.82 acre (0.33 ha) and has an open aspect to the rear overlooking open fields.Location:Carlton is a highly desirable north Bedfordshire village adjacent the River Great Ouse seven miles north west of Bedford. Bedford is conveniently situated for access to the A421 dual carriageway linking the A1 and M1 motorways and is 14 miles to the east of Milton Keynes and 25 miles to the west of Cambridge. Bedford main line railway station has fast, frequent trains to London St Pancras International.Planning:'The land is classed as an opportunity development site in the Carlton and Chellington Neighbourhood and Development Plan 2018 2030 (copy available on request) and is expected to deliver up to 10 dwellings, including one self-build plot.'Local plan requirement for 30% affordable housing on schemes of 10 or more dwellings'A CIL payment will be payable to Bedford Borough Council at the rate of 100 / m2 + indexation.Layout:An indicative layout is available detailing 9 private dwellings (including one self-build plot). Following review of the Neighbourhood Plan, prospective purchasers must decide on an appropriate unit mix for their schemes and provide a supporting sketch layout with any offer submitted.Bedford Council maintain a database of self-build applicants.Access:A new access(s) will need to be created direct from The Causeway. Drainage/Services:All utilities are thought to be available in The Causeway, but prospective purchasers should make their own enquiries with respect to availability and cost of connections. Existing Wayleaves, Easements and Rights of Way:The land 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 land is to be sold freehold. It is currently subject to a grazing licence but will have vacant possession on completion.Terms:'Sale by Informal Tender. Conditional or Unconditional offers are invited.'Informal Tenders are to be submitted via an official Informal Tender form in a sealed envelope clearly marked Informal Tender for Land at The Causeway, Carlton by 12 noon on Friday 20th November.Conditions of sale: (1) The purchaser is to exchange contracts within 20 working days from when their solicitors receive draft contract documentation.(2) The purchaser is to pay a 10% deposit on exchange of contracts. If the contract is conditional, then this is to be refundable if planning permission is refused by the local planning authority and upheld in any subsequent appeal.(3) If conditional, the purchaser is to submit a suitable planning application within six weeks from exchange of contracts.(4) Legal completion is to take place within 20 working days from exchange of contracts if unconditional or from receipt of planning permission if conditional.Viewings:Strictly by prior appointment via Compass.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 October 2020. These details are presented subject to Contract and without prejudice.



Features
  • Freehold

Nearest Stations:

6.42 miles
Bedford Midland
7.1 miles
Bedford St.Johns
7.91 miles
Kempston Hardwick
8.53 miles
Wellingborough
8.98 miles
Stewartby

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

£
£
£
£

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

Mortgage Required

£ 818950

Mortgage Loan to Value

%

Gross Yield

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Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

£
  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 25000
  • 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

Adjust these figures

£

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

£ 68950
  • 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)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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£
  %

This is the percentage of the rent that you will spend maintaining the property.

£

Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

£

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

£

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

£
  • Final Equity Profit
    £

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

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

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  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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