Filbert Close, Hatfield AL10

Filbert Close, Hatfield AL10

Freehold | 2.3 acres (0.923 hectares)

RESIDENTIAL DEVELOPMENT OPPORTUNITY
Outline Planning Consent for 39 dwellings
For Sale by Informal Tender. Bids to be recieved by 12noon Tuesday 3rd November 2020.
Site Extending to Approximately 2.28 acres (0.92ha)

THE OPPORTUNITY
The site is being offered for sale with the benefit of Outline Planning Consent for ‘the erection of 39 dwellings with all matters reserved.
The site is being offered for sale freehold, with vacant possession by way of an informal tender. Bids to be received by 12 noon on Tuesday 3rd November 2020.

LOCATION
Hatfield is a town and civil parish located centrally in Hertfordshire, approximately 18 miles north of central London.
The site is situated in the south west of Hatfield, approximately 1.3 miles south west from the town centre and 0.5 miles south west from amenity and local shops located on Bishops Rise, and University of Hertfordshire (College Lane Campus).
The immediate surrounding area is predominately residential, with adjoining land to the north being recently redeveloped.
Additionally, there is a hotel to the immediate north west of the site.
The site benefits from strong local transport links and access to major highways. Hatfield railway station is located approximately 1.5 miles to the north east of the site, offering a regular service to London Kings Cross and Moorgate, with a standard journey time of between 25 to 45 minutes. Access to the A1 (M) is approximately 0.7 miles away, with the M25 reachable in under 10 minutes by car. A number of bus routes also operate in the immediate area.

THE SITE
The site extends to approximately 2.28 acres (0.92 hectares) and is positioned to the rear of an existing residential development, Filbert Close.
The site currently comprises grassland and trees, many of which will need removing ahead of commencing the development.

PLANNING
The site benefits from Outline Planning Consent for the erection of 39 dwellings with all matters reserved (Application Reference: 6/2019/2162/OUTLINE), granted by Welwyn Hatfield Borough Council on 1st July 2020.
A Section 106 Agreement has been agreed and includes an obligation for 10 Affordable Dwellings, which are to be split 50/50 between Social Rented and Shared Ownership.
The Sellers require delivery of the 10 Affordable Houses as stated in the Section 106 Agreement, as a minimum requirement. This will be the responsibility of the purchaser and will be supported by a restriction on title.

TENURE
The freehold interest in the site is being offered for sale with vacant possession.

PRICE
Offers for the freehold interest, are invited by 12 noon on Tuesday 3rd November 2020. A Guide Price has been set at £2,100,000.
Offers should be submitted in writing, using the appropriate Bidding Proforma, which can be founding within the Drop Box.
Any offers must be addressed to:

Chief Legal Officer,
Hertfordshire County Council,
Pegs Lane,
Hertford,
SG13 8DE

The Seller is not bound to accept the highest or any offer. In addition, they reserve the right to enter into negotiations with any party, The seller must consider any offers received, up until Exchange of Contracts.

INFORMATION PACK
A DropBox for additional information has been created and access details are available from the agent.
The Dataroom includes the following:
• Relevant Planning Documentation
• Location Plans
• Title Plan and Register
• Bidding Proforma
• New Homes Report

VIEWINGS
Viewings for the site will be available via the agent. Only accompanied viewings will be available.

VAT
The site has not been elected for VAT and therefore will not be charged on the sale price

OVERAGE /CLAWBACK
i) In the event the Buyer secures planning permission for a more valuable use within 50 years of sale completion it would pay 50% (within 0/25 years) or 30% (within years 26-50) of any net uplift in value to the Seller.
(ii) The Purchaser must pay the Seller 50% of any difference between the original sale price and the price achieved by the buyer on a subsequent sale if the site is sold (in an undeveloped
state). This applies within two years of the date of the original sale Completion. Both Overage and Clawback will be secured via a restriction on Title.

TIMESCALES
Informal Tender: 12noon, Tuesday 3rd November 2020
Selection of Preferred Bidder: W/c 9th November 2020
Exchange: On or by week commencing 14th December 2020
Completion: 4 weeks thereafter

FURTHER INFORMATION
Should you require any further information please contact either:

Mathew Forster
01223 326540
mathew.forster@carterjonas.co.uk

Richard Combes MRICS
01223 346648
richard.combes@carterjonas.co.uk

Key Property Details
Location
Greenfield Suburban Immediate Land
Plot Range
21 to 50 Plots
Use
With Planning Houses + Apartments Affordable
Tenure
Freehold
Size of land
2.3 acres (0.923 hectares)
Carter Jonas reference
PDE200013
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