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14/16 Bromham Road, Bedford
£7,000,000 Guide Price
A rare opportunity to purchase a Grade II listed hall (now in ruins), together with c153.8 acres/c62.2 ha parkland and two lakes, having potential for some form of residential development (on parts) or other uses (STPP).GREAT BARR HALL Brief historyGreat Barr Hall is an 18th-century mansion with associations with the Lunar Society and is a Grade II listed building. It is, however, in a very poor state of repair and is on the Buildings at Risk Register.It is a nine-bay mansion in the Strawberry Hill Gothic Revival style. The house was much altered and extended about 1840 and in 1863 by Sir Francis Scott, 3rd Baronet, After his death in 1863. his widow Mildred lived on in the Hall until her death in 1909.In 1911, the estate was purchased by a local hospital board. The hospital was closed and in the 1980s the grounds became a nature reserve. The hall itself was abandoned in 1978 and, despite its 1971 Grade II' listing (since revised by English Heritage to Grade II), was left to decay.SUMMARYA large part of the land is surrounded by established residential development and is bordered by the M6 to the south west.Exploiting the development potential of the land will require a solution that includes the restoration of Great Barr Hall (or an agreed replacement Statement Building - STPP). It is believed there may be potential for some form of development on parts of the land (STPP). Possible future uses of the restored Hall or replacement building could be care or community with public access to the parkland and lakes for leisure.Work on the lakes will need to be undertaken as required by the Environment Agency.LOCATIONGreat Barr is located 6 miles to the north west of Birmingham city centre. It as all amenities expected of a very busy residential area with good road and rail connections to West Bromwich, Walsall and Birmingham.During the 1960s the area received a motorway link when Junction 7 of the newly built M6 motorway was opened on the A34. It is also located close to the starting point of the M5, which can be accessed just one mile northwards on the M6PLANNINGThe land/property has an extensive planning history. Plans were submitted in 2013 for a development of 57 large dwellings on substantial plots on various parts of the lands (extending in areas to a total of c34.5 acres) - see diagram below and by visiting Walsall Council Planning Department - Restoration and alterations to Great Barr Hall Grade ll and Grade ll Registered Park including 57 dwellings - application reference 13/1567/FL, the application was refused on 17th February 2022. However, we believe there may be potential for some form of development on the land subject to planning approval, viability and agreed enabling works. A policy within Walsall Council Allocation Document (SAD) January 2019 (pages 130-140), has further details regarding support for potential development of the lands/property.Confirmation of an acceptable type or scale of development has yet to be indicated, we believe it may be possible to achieve some development (on parts of the land) together with potential restoration or redevelopment of the Hall (STPP). Walsall Council planners and Historic England are keen to see restoration of the Hall, surrounding land and lakes.GENERAL ACCESSThe main access will be off Chapel Lane.SERVICES/DRAINAGEAll utilities are thought to be available together with drainage. Prospective purchasers should make their own enquiries in respect to availability of drainage, services 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.VIEWINGStrictly by prior appointment with Compass Land and Development.TENUREThe land is to be sold freehold with vacant possession on completion.TERMSGuide price: Conditional (STPP) and Unconditional offers are invited in excess of 7,000,000 CONDITIONS OF SALE: (1) The purchasers are to exchange contracts within a timescale to be agreed, from when their solicitors receive draft contract documentation.(2) The purchasers are to pay an agreed deposit at exchange of contracts. If a conditional sale, the deposit will be refundable if planning permission is refused by the local planning authority and upheld in any subsequent appeal.(3) If conditional, the purchasers are to submit a suitable planning application within an agreed timescale from exchange of contracts.(4) Legal completion is to take place within an agreed timescale, or if conditional, following receipt of planning permission, completion of S.106 Agreement and expiry of Judicial Review period.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. These details are presented subject to Contract and without prejudice. February 2022
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 )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
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