Penstowe Park
Ref: Lot 2
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Unconditional Lot
UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 3%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).
The Stables & The Paddock, Penstowe Park, Kilkhampton, Bude, Cornwall, EX23 9QY
A Freehold PARTIALLY COMPLETED DEVELOPMENT presenting great return on investment opportunity. This offers the unique prospect to complete this luxurious development in a sought-after location near Bude and the North Cornish Coast
A Freehold PARTIALLY COMPLETED DEVELOPMENT presenting great return on investment opportunity. This offers the unique prospect to complete this luxurious development in a sought-after location near Bude and the North Cornish Coast
Description
Key features
UNIQUE FREEHOLD DEVELOPMENT OPPORTUNITY
LOCATED NEAR BUDE, NORTH CORNWALL
PARTIALLY STARTED FREEHOLD SEVEN PROPERTY DEVELOPMENT IN NEED OF COMPLETION
FULL PLANNING GRANTED
CIL PAID IN FULL
DEVELOPMENT COMPRISES: 2 LUXURY DETACHED HOUSES, 2 COTTAGE STYLE HOUSES, 3 TOWN HOUSES
INFRASTRIUCTURE AND UTILITIES IN PLACE AND MUCH OF GROUND WORK DONE
EASY ACCESS SITE
BREAK UP AND RESALE POTENTIAL
Buyer’s fee applies & - Auction pack available on request
Property description
The Stables Mews and Paddock development.
**For sale by online auction on the 29th of February**
The Opportunity - FREEHOLD DEVELOPMENT IN NEED OF COMPLETION
A genuine retirement sale of a Freehold PARTIALLY COMPLETED DEVELOPMENT presenting great return on investment opportunity. This offers the unique prospect to complete this luxurious development in a sought-after location near Bude and the North Cornish Coast.
A Freehold partially completed development comprising seven luxury properties being two detached 4 bedroom house, two detached cottage style house and a large stone Mews building for conversion to three town houses, sold with vacant possession.
The Stable Mews enjoys two parts, one being the charming Mews courtyard which will have a development of 2 and 3 bedroom properties and part two, "The Paddock" accessed through the mews, opening out to a select community of 4 luxury (Two sold) detached private residences.
The properties will enjoy off road parking, spacious sizes and the houses with lawned gardens. All properties will be fully double glazed and benefit air source underfloor central heating.
The properties when completed will have good resale value as principle or second homes or make excellent letting or holiday accommodation, each option presenting a good return on investment to any builder developer.
Due to the superb location and the wide market appeal both as main residences or second homes, high demand is expected on this development.
PLANNING INFORMATION
Application No: PA18/01359
Application No: PA19/02816
Planned specifications available on request, although we assume there would also be considerations given to new specs.
1/ Detached four-bedroom house with plans drawn as:
Reception Hall & WC Cloakroom
Open plan Kitchen diner with sliding doors to garden x 2
Lounge with French sliding doors to garden
First floor
4 Bedrooms with one being ensuite
Family Bathroom
All services on site to this plot
Current end value £440K (Based on recently sold)
2/ Detached four-bedroom house with plans drawn as:
Reception Hall & WC Cloakroom
Open plan Kitchen diner with sliding doors to garden x 2
Lounge with French sliding doors to garden
First floor
4 Bedrooms with one being ensuite
Family Bathroom
The base is laid and all services are on site to this plot
Current end value £440K (Based on recently sold)
3/ Town House with plans drawn as:
Living Room
Kitchen Dining Room
Bathroom
Three double bedroom with one being en-suite
Current end value £325K (Based on local comparable and previous sales)
4/ Town House with plans drawn as:
Open Plan Kitchen Living Room
Bathroom
Two double bedrooms
Current end value £265K (Based on local comparable and previous sales)
5/ Town House with plans drawn as:
Large Living Dining Room
Kitchen on first floor
Bathroom
Two double bedrooms
Current end value £265K (Based on local comparable and previous sales)
6/ Detached Cottage style Single storey House with plans drawn as
Open plan kitchen living Room
Shower Room
Two double bedrooms
Current end value £225K (Based on local comparable and previous sales)
7/ Detached Cottage style House with plans drawn as
Open plan kitchen living Room
Bathroom
Two double bedrooms with Jack & Jill ensuite
Current end value £245K (Based on local comparable and previous sales)
NB: Current end values given as guide prices
All mains water, electricals, telecoms and fibre broadband) on site
CIL (Community Infrastructure Levy) Paid I full
The site so far has been Architect supervised.
Please note photos, specification and measurements are for guidance purposes only
No further works will be taking place on the development prior to the sale.
Tenure - The property is offered for sale freehold and with Vacant Possession on completion.
Viewing strictly by appointment with the local agent: NK Estate Agent
Local Authority
The local authority is Cornwall County Council, County Hall, Treyew Road, Truro, Cornwall, TR1 2AY Telephone: 0300 1234 100
Agents Notes
None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent. Any maps used on the details are for identification purposes only.
None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. All figures, measurements, floor plans & maps are for guidance purposes only.
The property is sold subject to and with the benefit of all outgoings, rights of way, easements & way leaves there may be, whether mentioned in these general remarks and stipulations or particulars of sale
Buyers Premium
* Plus 3% Buyers Premium plus VAT
Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer’s Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘LEGAL DOCUMENTS’. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
* The Guide Price given is an indication as to where the Reserve is currently set. The Reserve is the minimum price that the auctioneer is authorised by the vendor to sell the property for. It is subject to change throughout the marketing period. Where the Guide Price is a single figure, the current Reserve will not be more than 10% above that single figure, and where a price range is given (i.e. £50,000 - £55,000), the Reserve will not exceed the upper level of the range. It is not necessarily what the auctioneer expects it will sell for.
We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms' employment has the authority to make or give any representation or warranty in respect of the property.
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