Lot 5 - Land at Station Square, Loves Farm, St. Neots, Cambridgeshire, PE19 6GX

  • Unconditional Online Auction Sale
  • Guide Price* : £50,000 - £75,000*†

Potential for Commercial Development (subject to planning)

Description

Loves Farm is a township development which forms a major extension to the built-up area of St Neots. It is located about one mile to the east of St Neots town centre adjacent to the East Coast railway line. Wintringham Park, a new mixed-use neighbourhood of 2,800 homes with additional business and retail space and extensive community infrastructure, is currently underway on land to the north of Cambridge Road, opposite Loves Farm. There is a pedestrian footbridge over the railway line.

The Site: The site, which has an area of approximately 0.116 hectares (0.28 acres) is a former contractor’s compound. It is situated immediately adjacent to St Neots station. The land, which is open and unfenced, is partially laid to tarmac, but is otherwise unsurfaced rough ground. It should be noted that a gas main and a surface water sewer runs through part of the site as this may affect the ability to construct buildings on the land.

Planning: Interested parties are invited to satisfy themselves as to the current planning status of the land.

Restrictive Covenant: We are advised that the overall site is subject to a restrictive covenant which prohibits the use or development of the land for housing or retail uses.

Potential Use/Development Options: It is considered that the property offers potential for use or development for a range of non-retail commercial uses including offices, hi tech/B1 premises, day nursery, or perhaps a surgery/medical/veterinary operation. The site could be utilised for commuter car parking. In this respect, the cost of an annual season ticket for the main station car park on the southern side of the station complex is £1,467.

Services: It is believed that electricity, gas and water supplies are adjacent to the site and that drainage connections can be readily made to the mains sewers.

Business Rates: It is understood that the property is not assessed for business rates.

Location: St Neots is a rapidly expanding town located on the banks of the River Great Ouse with a population of well over 30,000 residents. Adjoining and nearby settlements such as Little Paxton, increase the population figure to c. 40,000. The retail catchment is estimated to be in excess of 80,000. St Neots has the fastest rate of population growth within the County.

Benefiting from its rail links to London Kings Cross (typical journey time of 45-55 minutes), the town has seen a considerable expansion of its commerce and industry in recent years. It also enjoys excellent road communications with London and the east coast ports, being located at the intersection of the A1 trunk road and the A428/A421 Cambridge - Bedford M1 - Milton Keynes route. The opening of the A14 and A428 dual carriageways have significantly improved accessibility to the Midlands and the North West.

Notes

Buyer Fees - Please note that the successful bidder will be required to pay an Administration Charge of £900 inclusive of VAT. This fee is due and payable from the winning bidder immediately after the timed auction ends. The successful bidder will additionally pay over to the auctioneer a deposit of 10% of the purchase price, subject to a minimum of £5,000, after the timed auction ends. All payments to be made by debit card payment or electronic bank transfer to the Brown&Co Client Account, the details of which will be provided by the auctioneer to the successful bidder shortly after the auction ends. Other fees may be payable on completion and will be detailed within the Special Conditions of Sale to be found within the published Auction Pack.

Ability to Buy: This property is being sold under Unconditional Auction Rules creating a legally binding contract at the conclusion of the timed auction. DO NOT bid unless you can complete the sale within 28 days, or on the terms specified within the Special Conditions of Sale.

Help and Assistance: If you have any questions or require any clarification as to the online auction process please contact the auctioneer prior to commencement of the bidding window as we will be unable to enter into any discussions once the auction has started.

Bidding Process: Prior to bidding the bidder will complete a Passport-to-Bid process, which requires registration, verification and agreement to Buyers Terms.

Following the Auction: Use 'Watch' button to follow the auction. If you register to Watch an auction you will receive email notifications of any bidding activity on the specific lot.

How It Works: Unconditional Timed Auction Online: This is a binding method of sale similar to a traditional public property auction. The only difference is the bidding takes place on line. The successful purchaser will be required to pay a 10% deposit (subject to a minimum payment of £5,000) on the fall of the virtual gavel and contracts will be exchanged. Bidding for properties online works in a similar fashion to eBay. You can place bids using your PC, tablet or mobile phone and the minimum amount you can bid is defined by the 'bid increment' level. When you place a bid, the property listing page will show you if your bid was successful and whether or not you are the highest bidder. When you are the highest bidder on a property, if another bidder outbids you the system will notify you by email so that you can place another bid if you wish. The major difference from eBay is that our system eradicates sudden death 'bid sniping' through the use of auction 'extension times'. If you have any questions or require any clarification please contact the auctioneer.

Agents Notes: (1) All measurements are approximate and quoted for general guidance only and whilst every attempt has been made to ensure accuracy, they must not be relied upon. (2) Any fixtures, fittings and appliances referred within these published details have not been tested and therefore no guarantee can be given that they are in working order. (3) Internal photographs are reproduced for general information and it is not inferred that any item shown within any picture is included with the property. (4) Photographs shown within these details may have been taken with a camera using a wide-angle lens. (5) These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. (6) In accordance with UK Anti Money Laundering Regulations Intending buyers will be asked to produce original Identity Documentation, Proof of Address and be subjected to an electronic ID verification check before a purchase conveyance is instructed. (7) Brown&Co comply with the General Data Protection Regulation (EU) 2016/679 (“GDPR”) please visit our website www.brown-co.com for our Privacy Statement, Subject Access Requests can be submitted to dataprotectionmanager@brown-co.com . (8) Brown&Co are regulated under the RICS code of conduct. (9) Brown&Co are a member of The Property Redress Scheme, Membership Number: PRS012758 https://www.theprs.co.uk/ (10) Brown&Co is a member of RICS Client Money Protection Scheme, RICS Firm Reference: 016189 (11) Brown&Co-Property And Business Consultants LLP trading as Brown&Co Registered Company Number OC302092. (11) Registered Office Address – The Atrium, St George's Street, Norwich, Norfolk, NR3 1AB

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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Sold for £140,000

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