The site extends to approximately 4 hectares (10.3 acres) with immediate access off the A423 and extensive frontage to the same. The site previously had detailed planning consent for 3 detached, self-contained buildings, each with dedicated yard areas and independent car parking. This has now expired. The site is a green field site that has a 4 to 5m fall from front to back on the front portion of the site and is relatively flat to the top section of the site. The bottom and top half of the site are split by a row of mature trees which will have to be retained should development be brought forward on the site.
The development density of the site may also be reduced in establishing a level site as this will require an element of cut and fill with retaining walls to maintain the tree belt as well as establishing a useable site. Acanthus Park offers developers or owner occupiers the chance to acquire the freehold of a prime development opportunity in an established location where freehold opportunities are rare.
Location
Acanthus Park is situated within Ravensbank Business Park which is considered the premier and most accessible estate in Redditch. The park lies within 4 miles of the M42 (J3) via the A4023 and A435 dual carriageways. Existing occupiers on the Business Park include Intier Automotive, Johnson Controls, AMCO, Heller UK and the SP Group.
Terms
Tenure
The property is owned freehold.
Service Charge
The site is subject to an annual service charge to ensure the maintenance and upkeep of Ravensbank Business Park. Service charge costs are apportioned in line with areas of occupation and the method of apportionment at this particular site is based on the number of acres of each plot as a percentage of the overall business park. We are budgeting for s/c payments this
year of:-
Plot 10: £XXX plus VAT
Plot 10a: £XXX plus VAT
Please note that the above are indicative and may be subject to change.
Expressions of interest
Parties interested in bidding for the site are requested to submit a formal expression of interest to the Birmingham Office of Lambert Smith Hampton by no later than Friday 4th July 2014.
Informal Tender
Following receipts of expressions of interest, a shortlist of parties will be invited to submit offers for the site. This does not represent a formal tender and our client will not be obliged to accept any or the highest of the offers received.
Legal Costs
Prospective purchasers will be responsible for their legal and any other consultancy costs.
VAT
All figures quoted are exclusive of any VAT liability.
Specification
• A rare opportunity to acquire approximately 10.3 acres of prime development land
• Located approximately 4 miles from J3, M42
• Suitable for B1, B2, B8 uses, subject to planning
• Of interest to developers and owner occupiers