Part complete residential development opportunity for sale.
Planning - An application has been granted by St Albans City & District Council under ref:5/2021/2195 which has then been varied under ref: 5/2022/2315. The approved planning is for:
“The demolition and redevelopment of existing builders merchant to provide up to 37 dwellings (Use Class C3) with associated access, parking and amenity space.”
The application has been granted subject to conditions. A number of these conditions have subsequently been discharged. These are available on the St Albans City & District Council Planning Portal and are listed within the data room.
The original consented scheme included 7 affordable homes which were allocated as ‘affordable rent’ units. The variation to the planning in 2022 included some changes to the internal layouts and elevations and the affordable homes which are now allocated as ‘shared ownership’ units.
The full Section 106 liability has already been settled with payment of £311,452 being made to the local authority. There is no Community Infrastructure Levy (CIL) payment due.
Location
St Albans is a Cathedral City in Hertfordshire with a rich history dating back to Roman Britain.
St Albans Cathedral was built in the 11th Century and stands proudly in the city centre amongst other period architecture. The City benefits from a well established retail offering with a twice weekly market that’s operated since the mid 1500s. The high street has a selection of High Street brands and a vast collection of specialist and independent stores and boutiques.
The City has the benefit of several excellent state and independent schools that have been rated by OFSTED as ‘outstanding’. The subject property is within the catchment area of Beaumont School and Verulam School.
Specifically the property is situated in the heart of the Fleetville area of St Albans. Fleetville is popular with families and young professionals given its local amenities and a diverse community.
There are open spaces at Longacres Playing Fields and Fleetville Recreational ground which are both a short walk from the property.
Located off Burleigh Road, Viciniti has been thoughtfully designed to offer off-street parking with EV charging points, private gardens with paved terraces to all houses, and shared green spaces for all residents to enjoy.
There is also convenient access to the Alban Way, a cycle and walking route to the city centre and station.
Accommodation
Block A - 7x 2 bedroom apartments (shared ownership)
Block B - 9x 4 bedroom town houses
Block C - 4x 1 bedroom apartments and 14 x 2 bedroom apartments
Block D - 3x 3 bedroom town houses
Terms
Price - Offers in excess of £10,000,000 (Ten Million Pounds) are invited
Tenure - Freehold. The property is held freehold under title number HD266851.
Method of Sale - The Property will be sold by way of informal tender (unless sold prior). Offers are sought for the Freehold interest.
Legal Costs - Each party is to be responsible for their own legal costs incurred throughout the transaction.
Specification
- Freehold
- A part built development opportunity with planning permission granted for 37 dwellings comprising:
- Block A - 7x 2 bedroom apartments (shared ownership)
- Block B - 9x 4 bedroom town houses
- Block C - 4x 1 bedroom apartments and 14 x 2 bedroom apartments
- Block D - 3x 3 bedroom town houses
- Approximately 1.5km from St Albans City Railway Station providing access into Central London in approx. 20 minutes.
- Parking for 51 vehicles
- The locality benefits from being in the catchment area of several ‘outstanding’ schools.