Land at, Weald Way, CATERHAM, Surrey, CR3 6EN

Description

This extensive parcel of land is some 2.43 acres. To the northern end of the land there is a range of dilapidated structures formerly utilised for poultry housing. Prospective bidders should rely on their own surveys and measurements however, based on ordinance survey data, the total footprint of this poultry housing extends to some 10,000 sq. ft. The remainder of the land appears to have not been maintained for a number of years and is now a mix of woodland and overgrown scrub areas. Potential/ Planning Data: The land is sold on an unconditional basis, and bidders are deemed to rely solely on their own enquiries as to any permissions that may be required for intended use or development prospects, however, the auctioneers have researched the local planning authority website , Tandridge District Council, which does not appear to reveal any planning history in respect to this land. The Councils data does reveal that whilst the land is located within the Green Belt and, outside the zoned “urban area”, there does not appear to be any Tree Preservation Orders , the land is not within the Conservation Area or Area of Outstanding Natural Beauty but bidders must rely on their own research. Overage Provision: It is intended that the land be sold subject to an overage provision however, the Seller has indicated that for a pre-auction sale, they will consider offers without overage at a price that reflects the removal of this benefit to them. In the alternative, the overage would apply providing the Seller with the benefit of 32% of the increase in land value arising from planning permission for development being granted. Total Site Area: 2.43 Acre Site incorporating circa 10,000 sq. ft of Former Poultry Housing. To View: By application to site Enquiries/Legal Pack/ Offers: For further enquiries, copy of the legal pack or to make a pre-auction offer based upon an exchange of the auction contract contact: 0208 741 9990 callum.glenn@barnardmarcus.co.uk OR chris.glenn@sequencehome.co.uk

Location

This unique opportunity in Caterham comprises an extensive parcel of land which is surrounded by existing dwellings and is located on the north side of Weald Way just to the south of the centre of Caterham. Weald Way has very much a rural aspect to it however, is home to a number of substantial dwellings, some of which adjoin and are opposite this land. The centre of Caterham is just over 1 mile to the north and offers a comprehensive range of shopping facilities and recreational pursuits with the area also having great outdoor recreational opportunities especially along and within the North Downs. The area has superb transport links, Junction 6 of the M25 motorway is less than 4 miles from the site providing great road links whilst Caterham Rail station provides direct links to London Bridge with journey times of 50 minutes.

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: Development costs require site-specific appraisal. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

No reliable auctioneer-published current rent was identified in the supplied scrape. Market rent should be independently verified before bidding.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

• Verify planning status, access, services and development constraints

Recommendation

Preferred strategy: Development. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

Development: ★★★★☆

Buy-to-Let: ★★☆☆☆

Flip: ★★★☆☆