Sale of Freehold Land at Little Blagdon Farm, South of Totnes Road, Collaton St Mary
Main contract details
Opportunity Id
DN504607
Title
Sale of Freehold Land at Little Blagdon Farm, South of Totnes Road, Collaton St Mary
Categories
45000000-7 - Construction work
Description
<p>The opportunity relates to the freehold disposal of c. 18.42 hectares of residential development land at Collaton St Mary, Paignton.</p>
<p>Torbay Council previously sought to dispose of the land with detailed conditions attached prescribing delivery outcomes, milestones etc. However, this was not attractive to the market. Torbay Council has therefore agreed to remove all conditions to sale (apart from a requirement to deliver planning policy affordable housing provision) to make the opportunity more attractive to the market.</p>
<p>The land is allocated for residential development in both the Torbay Local Plan and the Collaton St Mary Masterplan. Detailed due diligence has been undertaken and planning consent obtained for a new highways junction linking with Totnes Road to the north, and for demolition of the vacant former farm buildings on the site.</p>
<p>In compliance with planning policy the purchaser shall be required to deliver 30% of the proposed scheme as affordable housing, to be split between Social Rent, Affordable Rent and Shared Ownership tenures. No other delivery conditions shall apply to the sale.</p>
<p>The sale includes an opportunity to access Land Release Fund grant funds of £850,000, payable towards infrastructure works, surveys, mitigation and other identified enabling works. In addition to this £394,000 has been set aside to forward fund s.106 works relating to an offsite flood attenuation scheme within Collaton St Mary village and the Council will make available c. 10 hectares of land on an adjacent site for ecology mitigation and offsetting.</p>
<p>Bids will be assessed using a single criteria: Price. The Council requires that a 10% non-refundable deposit shall be payable upon exchange of contracts. The contract allows for a 12 month period to obtain full planning consent, at which point the purchaser will be obliged to pay the balance. The purchaser can waive this option and complete the purchase at any point.</p>
<p>Torbay Council previously sought to dispose of the land with detailed conditions attached prescribing delivery outcomes, milestones etc. However, this was not attractive to the market. Torbay Council has therefore agreed to remove all conditions to sale (apart from a requirement to deliver planning policy affordable housing provision) to make the opportunity more attractive to the market.</p>
<p>The land is allocated for residential development in both the Torbay Local Plan and the Collaton St Mary Masterplan. Detailed due diligence has been undertaken and planning consent obtained for a new highways junction linking with Totnes Road to the north, and for demolition of the vacant former farm buildings on the site.</p>
<p>In compliance with planning policy the purchaser shall be required to deliver 30% of the proposed scheme as affordable housing, to be split between Social Rent, Affordable Rent and Shared Ownership tenures. No other delivery conditions shall apply to the sale.</p>
<p>The sale includes an opportunity to access Land Release Fund grant funds of £850,000, payable towards infrastructure works, surveys, mitigation and other identified enabling works. In addition to this £394,000 has been set aside to forward fund s.106 works relating to an offsite flood attenuation scheme within Collaton St Mary village and the Council will make available c. 10 hectares of land on an adjacent site for ecology mitigation and offsetting.</p>
<p>Bids will be assessed using a single criteria: Price. The Council requires that a 10% non-refundable deposit shall be payable upon exchange of contracts. The contract allows for a 12 month period to obtain full planning consent, at which point the purchaser will be obliged to pay the balance. The purchaser can waive this option and complete the purchase at any point.</p>
Region(s) of supply
Torbay
Estimated value
N/A
Keywords
Development, Land
Key dates
Estimated contract dates
Start date
25/03/2021
End date
24/03/2023
Expression of interest window
From 23/10/2020 09:00 to 29/01/2021 12:00
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Contact details
Buyer
Torbay Council
Contact
Joanna Pascoe
Telephone
01803 208517
Address
Torbay Council Town Hall
Torquay
Devon
TQ1 3DR
United Kingdom
Torquay
Devon
TQ1 3DR
United Kingdom
