Elizabeth Street, Corby NN17

Elizabeth Street, Corby NN17

Freehold | 0.96 acres (0.388 hectares)

DEVELOPMENT OPPORTUNITY

Site extending to approximately 0.96acres (0.39ha), with a number of existing buildings within.
Sale by Informal Tender, bids to be received by 1pm on Tuesday 2nd July 2019.
Freehold interest for sale.

THE OPPORTUNITY
The site is being offered for sale freehold on either an unconditional or conditional basis, by Informal Tender. Bids to be received by 1pm on Tuesday 2nd July 2019. Details on where to submit the offer can be obtained from the agents. Conditional offers must be accompanied by a broad outline of the proposal.

THE SITE
The site of the Former Corby TA centre is a 0.96 acre (0.39ha), self-contained site positioned to the North of Corby Town Centre, at the junction with Elizabeth Street and Alexandra Road.

The site comprises a number of buildings, both single and two storey and four large vehicular garages. There are two semi-detached residential properties situated on the western boundary of the site. These properties have been left derelict for a number of years. In addition to this, there is an enclosed yard which provides off street parking.

The site is broadly rectangular in shape, with the topography being fairly flat.

PLANNING
The landowner has undertaken a Pre-Application discussion with the Local Planning Authority (LPA). The proposal was for a mixed commercial and flatted residential scheme. The LPA were, in principle, supportive of development, subject to the appropriate planning consent.

A written response was provided by the LPA, and copy of which can be found within the Microsite.

LOCATION
Corby is a market town situated approximately 11 miles east of Market Harborough and approximately 10 miles north of Kettering.

The town is situated approximately 7 miles north of Junction 7 of the A14, which provides direct access to Huntingdon, Cambridge and the wider highway network.

The town benefits from a railway station, positioned approximately 1 mile from the subject site. Corby Railway Station provides direct access to London St Pancras International Station, in 1hour 10minutes and Kettering in 9 minutes.

According to the 2014 Census, Corby has a population of 65,430.

TENURE
The freehold interest is being sold.

PRICE
Offers invited to the agents.

INFORMATION PACK
A Microsite for additional information has been created and access details are available for the agent.

The information includes:
• Planning Appraisal
• Title Plan
• Title Register
• Bidding Proforma
• EPC’s
• Report on Title

COMMERCIAL TERMS:
For any conditional offers, the following will be required as part of the bid submission:

The owners are offering a conditional contract, initially for a period of 12 months with the right to extend for a further 6 months if a planning application or appeal decision remains outstanding.

The purchasers will be responsible for all costs involved in securing planning consent.

The planning application to be submitted within six months of the conditional contract being entered into.

The owners to have step in rights and the ability to use any surveys, plans etc. commissioned at no charge if the purchasers do not proceed to acquire the site.

The purchaser to pay a contribution of £5,000 plus VAT towards the owner’s agents fees, to be paid on conditional exchange of contracts and for the avoidance of doubt, this figure is not deductible from the purchase price.

The purchaser to provide an indication on whether an overage is being offered, with confirmation of the formula. Overage will be considered in the event that comparable offers are received.

Conditional Offers will be reviewed on the basis of Net Present Value to allow for an indication against unconditional offers.

VIEWING ARRANGEMENTS
Viewings must be arranged through the agents.

TIMETABLE
Informal Tender: 1pm, Tuesday 2nd July 2019.
Developer Interviews: Monday 8th July 2019. Heads of Terms agreed and Solicitors Instructed: On or by Friday 12th July 2019.
Legal Meeting: Monday 29th July 2019
Exchange of Contracts: On or by Monday 2nd September 2019
Completion (for Unconditional disposal): On or by Monday 30th September 2019.

FURTHER INFORMATION
Should you require further information please contact either:

Charles Harris on 01223 346596 alternatively, you can email charles.harris@carterjonas.co.uk.

or

Nick Muncey on 01223 326817 alternatively, you can email nick.muncey@carterjonas.co.uk.

Situational Details
Location
Brownfield Urban Mixed Use
Plot Range
51 to 200 Plots
Use
Unconditional Subject to Planning Apartments
Tenure
Freehold
Size of land
0.96 acres (0.388 hectares)
Carter Jonas reference
PDE190008
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