Comprising of approximately 2.87 acres and which consists of a plot located close to Farnham Park Hotel and also to St John’s Church Hale, with access off the A325 circulatory road close to the Six Bell’s Roundabout, on the eastern side of the town. Good access is available to major trunk routes and to the Farnham/Aldershot conurbation The plot forms part of a larger site for which planning consent (WA/2019/1508 was granted in 2010). The plot to be sold is outlined in red on the plan.
Location
Situated in the local authority of Farnham Hale & Heath End, Upper Hale is classed as largely rural with the nearest towns of Aldershot (2 miles), Fleet (4 miles) and with London approximately 37 miles away. Farnham has some of Southern England’s finest Georgian architecture including Farnham Castle dating back to the 12th Century.
Accommodation
Size - approximately 2.87 acres
THE SITE FOR SALE: Imaan Gardens, consists of circa 2,500 full burial plots, laid out as ‘lawn graves’, with traditional concrete headers and gravestones up to 1m in height. Burial permission exists for up to triple depth burials, but the norm is to have no more than two burials per plot, and this is more acceptable for Muslim families in recent years as seen at other London sites.
There have historically been a single Muslim infant burial and one burial of a female organ, which was arranged with a local hospital. Interest and demand exist from the local and regional Muslim community, of which there has been significant enquiries from to purchase bulk pre-need sections and plot numbers from Imaan Gardens.
Terms
PLANNING: Planning consent was granted on 5 May 2010 under Planning Reference No WA/2010/0166 by Waverley Borough Council for a Cemetery and Woodland Burial Site. A material start on site was confirmed by the Council on 21 February 2014.
An application was made to vary Condition 8 of WA/2010/0166 to allow headstones and monuments to a height of 1m and 0.3m. Consent to the variation was granted by Waverley Borough Council in January 2014.
SALE PRICE: Offers are invited in excess of £2 million for the freehold title SY814044.
LEGAL COSTS: Each party is to be responsible for their own legal and surveyors costs incurred in the transaction.
FINANCIALS: There are two market areas: Immediate need, and pre-need reservations, both of which need marketing to. The site is owned by Regent Memorial Ltd as an SPV, and shares can be bought for the company to take it over if needed.
The site is freehold, however, to finance the purchase, the plots on site were pre-sold by Regent Memorial Ltd to financial investors to fund out the purchase. So, on the sale of the plots to 'end user's', the revenue is as follows:
£4,350 per plot x 2,500 on the land (current 25-26 plot price).
Is made up of £2,595 per plot.
£249 for the memorial permit
£1,506 for the burial fee.
Total GDV: £10,875,000
On circa 30% of the plots, there will be a double burial, so another £1,506 per plot = £1,129,500.
On circa 20% of the plots, a concrete liner will be requested: £1,950.00 = £975,000
On 60% of the plots, a wooden frame will be requested: £850.00 = £1,275,000
Therefore, the total GDV is: £14,252,500