Land for sale

A significant residential portfolio of let property with extensive land and further strategic holdings representing an excellent investment opportunity.

Description

Situated adjacent to the River Dove, the Kerrison Portfolio presents purchasers with a unique opportunity to acquire a diverse portfolio of assets. The portfolio consists of 16 residential properties along with extensive grassland and strategically positioned land. The gross return for the residential property is £166,788. Of the residential properties 15 are let on Assured Shorthold Tenancies with 1 let on an Assured Tenancy.

Accessed off Stoke Road are the majority of the residential houses in the portfolio. They comprise 14 residential houses set in approximately 5.33 acres (2.159 hectares). Collectively the gross return for these house is £145,680. Further information regarding the residential properties can be found in the table in the sales particulars and in the data room.

Part of the land has received planning permission for residential development. The planning application reference number is 1716/09. The planning permission is for a close of six 3 bedroom houses. Four of the houses are detached with the other two being semi-detached. Further details can be found with the vendor’s agent.

Located to the east of the main range of houses are two residential properties that benefit from frontage onto Stoke Road along with extensive surrounding grassland. The residential properties are showing some signs of structural movement. An engineer’s inspection report can be found in the data room. Positioned adjacent to these properties is the Kerrison field which is identified as Local Green Space within the adopted Thorndon Neighbourhood Plan.

There is a further parcel of grassland let on a Grazing licence that runs until 31st October 2024.

To the north of the village of Thorndon are two blocks of pasture land collectively extending to 62.13 acres (25.142 hectares) with frontage onto Clint Road. Rich in flora and fauna the meadows are interspersed with an array of trees offering extensive environmental and biodiversity benefits across the land. This land benefits from river frontage to the River Dove with some of the land abutting Stoke Road. Part of the grassland is let on a grazing licence that runs until 31st October 2024. Further details of the licence are available in the data room.

Located to the south of the Stoke Road is a small block of amenity woodland that benefits from direct access and positioning onto the Stoke Road. This woodland is to be sold subject to an Overage Agreement.

The Vendor will benefit from 30 % of any uplift in the Market Value of the land if Planning Permission or Permitted Development results in an alternative use. The valuation date will be the date of planning permission and the Overage will be effective for 30 years from the date of completion of the sale. The payment will be due upon the implementation of the Permission or a disposal with the benefit of the Permission.

Location

The portfolio is located within the village of Thorndon. Thorndon benefits from a community shop, public house and primary school. The market town of Eye is approximately 3 miles away which offers an array of facilities including
a number of different shops, services, public houses and a secondary school. The larger market town of Diss is approximately 8.5 miles to the east and includes a main line rail link to Norwich, Ipswich and London. The journey time from Diss to Norwich is from 17 minutes, Ipswich from 22 minutes and London Liverpool Street from 1 hour 36 minutes.




Acreage: 76.88 Acres