28.17 Acres Development Land - Street
KL

28.17 Acres Development Land - Street

By KLP

£ 12,000,000

KLP says ..

THE SITE <br /> <br />This well located and generally level parcel of prime development land (offered subject to planning) has frontage to the B3151 Somerton Road heading south from Street and is opposite the extensive grounds of Millfield School. The land measures 11.40 hectares (28.17 acres) with additional frontage to Stallgrove Lane to the west and borders established residential development to the north. <br /> <br />The land comprises three agricultural fields defined by mature hedgerows and is well located less than 1km from the village center. <br /> <br />STREET <br /> <br />A thriving large Somerset village with a population of 11,805 (2011 census) at the end of the Polden Hills two miles from Glastonbury. Well served by local facilities including primary and secondary schools and the famous Clarks Village shopping center. Street also serves as the headquarters of the Clarks shoe business and the internationally renowned Millfield School is another major local employer. <br /> <br />PLANNING <br /> <br />The land is an emerging allocation for residential development in the ongoing review of the Mendip Local Plan (Policy ST3). An application for outline planning permission for up to 280 dwellings was submitted in December 2019 under reference number 2019/2946/OTS. This application was proceeding towards committee with an expectation it would be recommended for approval but has become paused by the emergence in August 2020 of concerns over high levels of phosphates in the Somerset Levels and Moors raised by Natural England and along with many other applications can now only proceed if it can be demonstrated to be phosphate neutral. Please see agents note. <br /> <br />TECHNICAL <br /> <br />A pack of technical information is available from the agents including copies of the outline planning application papers. <br /> <br />AGENTS NOTE <br /> <br />The vendors are inviting offers on a subject to planning basis conditional on the grant of outline planning permission pursuant to the current outstanding application. Negotiations are ongoing to seek a solution to the phosphate issue and the vendors will look to work with the eventual buyer to validate that process. The vendors are a local charitable trust and are concerned to ensure a high standard of design is achieved and will wish to work with and approve the purchaser's development proposals. Further details are available from the agents. <br /> <br />METHOD OF SALE <br /> <br />The land is offered for sale by way of informal tender with a closing date of midday on Friday 15th October 2021 with offers invited in writing addressed to the agents accompanied by indicative plans but subject to planning permission being granted.

Bedrooms
0
Bathrooms
0

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Metrics Year-on-Year

Average area value
211,990.00 £
Decreased by 57.21 %
from 495,407.00 £
Average area rental value
1,750.00 £/mo
Increased by 95.75 %
from 894.00 £/mo
Est rental Yield
9.91 %
Increased by 356.68 %
from 2.17 %
Crime Rate
0.00 %
from 0.00 %

Agent Activity

  • KLP created the listing.

Nearby Schools

NameTypeOfstedDistance
Hindhayes Infant SchoolCommunity SchoolGood0.74 KM
Millfield SchoolOther Independent School0.81 KM
Elmhurst Junior SchoolCommunity SchoolRequires improvement0.89 KM
Strode CollegeFurther EducationOutstanding1.36 KM
Crispin School AcademyAcademy ConverterGood1.38 KM

Images

Nearby Streets

NameAverage PriceAverage SqftDistance
Portway Crescent £ 729,95000.00 KM
Portway £ 000.00 KM
Oriel Road £ 000.00 KM
East Road £ 362,50000.00 KM
Stoke Road £ 000.00 KM

Nearby Listings

AddressPriceTypeScoreDistance
28.17 Acres Development Land - Street £ 12,000,000COMMERCIAL_BUYUnknown0.00 KM
High Street, Street, BA16 £ 850,000COMMERCIAL_BUYUnknown1.37 KM

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