UK Strategic Land Investment – Bradford on Avon – 250sqm Plot
Bath road, Bradford-on-Avon
Price per Plot: £18,500 (£74/sqm)
Only 11 plots available
Investment Period: 4 to 5 years – no monthly or yearly holding costs
Projected Return: £54,000 (+- R 1,026,000@R19.00) calculated as at the end of the period
Located on the north western edge of the town of Bradford on Avon, within Wiltshire District Council. It is approximately 8 acres in size of which 51% is available for investment. Bradford on Avon is a large Market Town with a range of key services and employment, making it suitable for housing growth. The site is currently a block of gently sloping grazing land that has been previously utilized for equestrian use. There are two main access points off Bath Road to the east of the site.
- Bath – 9.1 miles
- Bristol – 22 miles
- Swindon – 31 miles
- London Central – 110 miles
PLANNING DEPARTMENT COMMENTS
- The town of Bradford on Avon falls under the BOA Development Area as guided by the Wiltshire District Councils Local Development Plan. The current BOA Neighbourhood Plan (NP) has identified sufficient sites to the north east of Bradford on Avon to deliver 33 shared ownership dwellings. This NP plan has already undergone Examination and a final decision is expected soon. However, affordability is a key issue identified for the BOA developmental area and resulting housing strategies going forward will need to focus on delivering affordable schemes either as components of market housing or on a 100% affordable development basis. It has further been established through a number of recent planning applications in the area, that Wiltshire District Council does not have a 5 year land supply in place for the North West Housing Market Area in which the sites falls. This means additional housing will need to be identified, if not in the current NP, then in the future Local Plan review.
- Given the current status of WDC Local Plan and the imminent approval of the BOA NP, this represents an excellent opportunity for securing planning allocation in the medium term. We will be strategically promoting the site through the next Local Plan review for residential development within the next 5 – 7 years.
LATEST PLANNING UPDATE
As per September planning review, the nationwide lockdown in the UK had an effect on the initial timelines of the Local Plan but work on the Pre-Submission Plan recommenced in July 2020 with an expectation that consultations on the Plan would occur towards the end of 2020.
The two subsequent lockdowns in the UK meant that these consultations only occurred in March 2021 which we attended and made all necessary representations covering the following topics:
- Bradford on Avon Market Town Consultation
- Climate Change Consultation
- Emerging Spatial Strategy
- Empowering Rural Communities
|ROI:||192.00% (per information received)|
|Interest Rate PA||%||Prime: 9.75%|
|Rental Comm Rate||%|
|Nett Rent Amount||R|
|Nett ROI PA||%|
|Bond Registration Cost||R|
|Return on Cash||%|