Lot 58 Over Four Acres Of Freehold Land With Development PotentialAuction Date:
2nd November 2022
Land West Side Packsfield Lane, Rear 69 Station Road, Wootton Bridge, Ryde, Isle Of Wight, PO33 4RE
Of interest to investors and developers as well as conservationists, this freehold interest controls development of this attractive site. Situated in the popular residential location of Wootton Bridge, the site extends to 1.72 hectares (4.25 acres) and is in use as a pony paddock, which is accessible off Packsfield Lane. The freehold title is subject to a long lease which is held by the owner of a neighbouring property in Station Road, which is the currently proposed access point.
The suitability of the site for residential development is affirmed by a motion to grant Outline Planning Consent (subject to an S106 agreement) which was passed by the Isle of Wight Council for the construction of 29 residential dwellings in a scheme which would have seen the demolition of 69 Station Road, a property which is owned by the long lessee. Option Agreements between the owners of the freehold and the leasehold and the owner of 67 Station Road where the purchase of a strip of land to the front to provide required visibility splay, have now lapsed. The current planning scheme would require the involvement and co-operation of the owners of the freehold and long leasehold titles and the purchase of the additional land for the visibility splay.
Planning
The motion to grant Outline Planning Permission by the Isle of Wight Council on 29 March 2022 (Ref: 21/01796/OUT) was for residential development with new access, internal road layout and parking, subject to conditions. A copy of the minutes of the Planning Committee meeting and proposed plans will be available to download from the Clive Emson website or via Isle of Wight Council’s website www.iow.gov.uk. The planning decision notice will not be issued until the S106 planning legal agreement is completed.
Tenure
The land is subject to a lease for a term of 999 years, from 28th September 1997, at a ground rent of one peppercorn per annum.
Viewing
The site can be viewed at any reasonable time on site from Packsfield Lane.
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
