This 0.04 hectare (0.11 acre) development site is situated in a mainly residential area and is close to having the major benefit of two Planning Consents, giving purchasers an either/or option with regard to future development. A 2019 Planning Consent has been obtained for the construction of a three storey block of eight apartments with communal gardens and car parking, and if developed it is considered that the finished units would be ideal for resale into the local marketplace or for addition to an income-producing letting portfolio.
Alternatively, a more recent application for a three storey block of four five-bedroom and one six-bedroom student cluster apartments is in the final stages of consideration by the Portsmouth City Council, and please see Auctioneers Note 1. An income forecast prepared for the current owners has indicated a potential annual income of approximately £180,000 per annum for the student cluster development if fully let. Prospective purchasers should of course rely on their own enquiries.
Planning Consent has been obtained from Portsmouth City Council, under ref: 18/02011/FUL, dated 18th April 2019, for construction of a three storey block of apartments comprising of eight self-contained flats, to include refuse and cycle store with associated amenity garden space and car parking, subject to conditions.
A Planning proposal has been submitted by Portsmouth City Council, under ref: 19/01697/FUL, for construction of a three storey block of four five-bedroom and one six-bedroom student accommodation cluster apartments with associated refuse and cycle stores and amenity space (description amended 28th January 2020 and amended plans), subject to conditions.
A copy of the Planning Consent and proposed plans will be available to download from the Clive Emson website.
Auctioneer’s Note 1
The Auctioneers are advised that the proposal has been approved by the Portsmouth City Council’s Planning Department, but a Decision Notice and confirmation of this Decision is yet to be issued pending the ratification of the Section 106 Agreement between the City Council and the current owners. We understand this work is still ongoing and should be completed prior to the auction. Prospective purchasers are advised to rely on their own enquiries.
Auctioneer’s Note 2
The seller has advised all reports, including soil and contamination and all construction and structural drawings, will be transferred to the purchaser upon completion.
0.04 hectares (0.11 acre).
Local Planning Authority
Portsmouth City Council. Tel: 023 9283 4334. Website: portsmouth.gov.uk.