Ashdon Road, Saffron Walden CB10

Ashdon Road, Saffron Walden CB10

Freehold | 6.6 acres (2.7 hectares)

RESIDENTIAL AND MIXED USE DEVELOPMENT OPPORTUNITY
Outline Planning Permission
Up to 55 dwellings
Up to 335sq. m. (3,605sq. ft) of Retail
To be sold as a whole or in two parts

THE OPPORTUNITY
Outline planning permission has been granted for the development of up to 55 dwellings on phases 1C, 3 and 5 and a retail element on phase 1C.
Offers are being invited either for phases 3 and 5 in isolation or combined phase 1C.
The sale(s) will be concluded by informal tender and bids are to be received by 12 noon Monday 20 January 2020.

LOCATION
The site is located to the east of the town centre of Saffron Walden, within a 15 minute walk of the local shops. It is surrounded by residential areas to the south and south west, with open countryside bordering the remainder of the site. The site sits in an elevated position with southerly views across the Cam Valley.
Saffron Walden is an affluent market town in North West Essex with a wide range of facilities. The town centre is home to a number of independent and high street stores, restaurants and coffee shops. Primary and secondary education is well catered for and the town benefits from both a Waitrose and Tesco supermarket.
The town is located 6 miles from junction 9 of the M11, which provides access to Cambridge, London and the A14 towards the Midlands.
The nearest train station is Audley End (4 miles away), which provides services to Cambridge (18 mins) and London Liverpool Street (1 hour). In addition the local rail services and bus services run from Saffron Walden to Cambridge, Haverhill and Bishops Stortford. The town is also located just 12 miles north of London Stansted Airport.

THE SITE
The land comprises part of a larger site which includes Mortimers Gate residential development for 160 dwellings, the construction is nearing completion and the new Ridgeons builder’s merchants store with potential for further limited commercial development.
Phases 3 and 5 extend to circa 1.89 hectares (4.62 acres) Phase 1C is circa 0.8 hectares (1.97 acres)
The main access onto Ashdon Road has been completed and the primary access to phases 3 and 5 will be through Mortimers Gate.
Phases 1C and 3 are generally on a similar level to Mortimers Gate and the Ridgeons store, there is a marked difference in levels between phases 3 and 5. The site is being sold on an as seen basis.

PLANNING
Outline planning was approved by appeal decision issued on 10 October 2019, the planning reference is UTT/17/3413/OP and the appeal reference is APP/C1570/W/18/321838.
The planning consent allows for a number of uses, the pertinent ones being the ‘erection of up to 55 dwellings’ and the ‘erection of up to 335 sq.m of A1 floor space (with the net retail area not to exceed 279 sq.m GIA)’.
The indicative master plan included within the DAS set out 45 dwellings on phases 3 and 5. This left a further ten residential dwellings above the retail store. It was anticipated all the apartments above the retail would form part of the 40% affordable housing requirement.
The planning permission does not prescribe how the 55 dwellings are allocated across the three phases, the final configuration to be agreed.
If phases 1C, 3 and 5 are sold separately both sections will have to provide affordable housing compliant schemes.
There is a unilateral undertaking which was included with the appeal decision.

COMMERCIAL TERMS
• Offers to be received either for phase 1C, 3 and 5 as a single bid or alternatively phases 3 and 5 combined;
• If you intend to bid for phases 3 and 5 in isolation, please indicate how many units of the overall 55 dwellings are included within your proposal. A restrictive covenant will be entered into limiting the number of dwellings included within any subsequent reserved matters application to the number indicated as part of your bid;
• An area of land adjoining phase 5 has been utilised as a reptile trans-location site and will be included in the sale of phases 3 and 5;
• A secondary means of temporary access will be granted between phase 3 and the roundabout serving the Ridgeons store.

TENURE
The site(s) are being offered freehold with vacant possession.

VAT
The site has been elected for VAT and will therefore be charged on the purchase price.

PRICE
Offers in the region of £4 million are invited for phases 3 and 5.
Offers in the region of £4,650,000 are invited for phases 1C, 3 and 5.

ANTI-MONEY LAUNDERING
In accordance with legal requirements, we will carry out AML checks on the preferred purchasers.

DATAROOM
The data room, in the form of a microsite, has been created and includes a substantial amount of planning, technical and legal documentation and includes the bid pro forma
Access details can be obtained from the selling agents.

INFORMAL TENDER
All tenders to be received by 12 noon Monday 20 January 2020.
Tenders can either be delivered by hard copy in an envelope addressed FAO Nick Muncey, Carter Jonas, One Station Square, Cambridge CB1 2GA clearly marked on the outside ‘informal tender for Ashdon Road Saffron Walden’ or alternatively by email by way of an attachment to nick.muncey@carterjonas.co.uk.

TIMINGS
• Informal tender date – 12 noon Monday 20 January 2020.
• Post bid interviews – week commencing Monday 27 January 2020.
• Heads of terms issued – week commencing Monday 3 February 2020.
• Exchange of contracts – Monday 16 March 2020.
• Completion – Monday 13 April 2020.

FURTHER INFORMATION
Should you require any further information please contact either Nick Muncey on 01223 326817 or alternatively you can email on nick.muncey@carterjonas.co.uk or Charles Harris on 01223 346596 or alternatively you can email on charles.harris@carterjonas.co.uk.
For new homes advice contact Marika Brundell on 01223 403330.

The next steps...

Before making an offer on a property you will want to consider your financial situation, your income and outgoings.

Will you finance the purchase of your next property from the sale of an existing property which can put you in a chain, arrange a mortgage through your bank or buy the property outright.
 
To help you finance your next property purchase, we have a long established relationship with an independent mortgage broker who can discuss your situation with you.

Remember that having a 'mortgage decision in principle' can make you a more attractive buyer when you make an offer on a property. Contact our mortgage advisers for free, no obligation and impartial advice.
 
Some advantages of a broker are:

  • They do all the legwork for you, working on your behalf with the lender
  • They compare wholesale mortgage rates from a large number of banks and lenders all at once
  • Wholesale interest rates can be lower than retail (bank branch) interest rates
  • You get more loan options because they work with numerous banks and lenders
  • Brokers can finance tricky deals because of their knowledge and various lending partners
  • Are typically easier to get in contact with, less bureaucratic.

However with your bank maybe able to:

  • Build off existing relationship (discounts if you have a checking/saving account)
  • You may already know the banker who will handle your mortgage
  • Perhaps more trustworthy, more accountable than a smaller shop
  • Lower interest rates in some cases
  • Ability to add mortgage to existing banking profile and make automatic payments from linked account.

When it comes to making an offer on a property a bit of negotiation is to be expected, however don't offer so little that you end up in a lengthy negotiation process, as you might lose the property altogether if someone else makes a higher bid.

If other offers have been made on a property we aren't legally able to tell you what they are, but we may indicate if they were close to the asking price.


We want to make the offer process as simple as possible and by registering with an account with Carter Jonas today, you can make offers on any of our properties online and at your convenience. Just register with us online and click the 'make an offer' button on any of our properties.

 

If you have a property to sell, why not see how we can help you. Did you know we can offer all our residential clients a login that will allow them to track their property sale online.

Our offices are also open longer during the week and weekends and we can take calls from potential buyers 24 hours a day 365 days a year.

We can even take the stress out of managing your rental, our award winning lettings team offer a service that can be tailored to your needs.

Combined with over 150 years of experience and one of the highest customer satisfaction scores in the industry, Carter Jonas is the perfect property partner.

Why not book a free, no obligation valuation of your property and find out how
Carter Jonas can help you make your next move.

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Don't forget to use our innovative and unique property wizard to help you find properties you would may not have initially considered, and remember that by registering an account you can make an offer online on your dream home 24/7.

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Viewing a house or flat can be an exciting time, but remember to register with you local office of Carter Jonas first.

This could give you access to confidential sales (properties we are requested not to advertise) which you will never see online.

It's also worth registering with us online, here you can setup email alerts which will be sent daily, updating you on the latest properties that match your requirements.
 
When you see a property you are interested in on our website, call us 24/7 to arrange a viewing. Or if you prefer, get in touch via our website and we will call you back to find a time to view the property that suits you.

Situational Details
Location
Brownfield Mixed Use
Plot Range
51 to 200 Plots
Use
With Planning Houses + Apartments Affordable Mixed Use
Tenure
Freehold
Size of land
6.6 acres (2.7 hectares)
Carter Jonas reference
PDE190021
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