Freehold Site for Sale

Key Points

• Of interest to residential developers and housing associations.
• With new planning consent for 32 Flats and 6,900 sq ft of ground floor (use Class E) subject to a new S106 Agreement. (To be sold as a TOGC).

Description

The Scheme which has a full planning consent from Rushmoor Borough Council dated 26/2/19 (Ref 16/00981/FULPP) with a new resubmission Consent about to be issued - please refer to 22/00029/FULPP - Planning Application - below
The demolition of the existing bus station and redevelopment of the site with the erection of a mixed use building comprising three ground floor commercial units totalling some 6,900 sq ft (Planning Use Class E) and upper floor residential use comprising 32 market residential flats (18 x 1 bedroom, 12 x 2 bedroom and 2 x 3 bedroom units) with associated on site servicing and parking areas.

Location

Aldershot is within the District of Rushmoor Borough Council and is about 32 miles southwest of London. The town has a popuation of about 37,000 whilst the Aldershot Urban Area (a loose conurbation which includes other towns such as Camberley, Farnborough and Farnham), has a population approaching some 250,000 making it the thirtieth largest urban area of the UK.

The freehold site, next to the mainline railway station is located at 3 Station Road, Aldershot, close to where it meets Windsor Way GU11 1HN.

Section 106 Agreement

a) Previously a financial contribution of £147,265.00 towards the maintenance of SPA avoidance and mitigation. New one being prepared.
b) A £52,925.00 Public Open Space contribution. New one being prepared.
c) Financial Viability Reassessment Clause in the event that the implementation and completion of the Scheme is protracted and market conditions improve the Value of the Scheme. These are provided as a guide only.

Decision Notice

Dated 26/2/2019 available upon request. New Notice being prepared.

Existing Tenancies

There are 2 leases in place
1. To Stagecoach which runs for a term of 25 years from 10th October 1997, expiring 2022. The current rent payable is £18,058 pax. However an alternative site has been secured.
2. To Rushmoor Borough Council which runs for a term of 25 years from 10th December 1997 and expires 2022. Peppercorn rent.
We understand that full Vacant Possession can be obtained upon an early timescale.

Sale

The site is to be sold FREEHOLD.

Planning Application

https://publicaccess.rushmoor.gov.uk/online-applications/applicationDetails.do?keyVal=R5JZ6JNMGMU00&activeTab=summary