savills.co.uk

PARABOLA ROADCheltenham, Gloucestershire, GL50 3BD

FREEHOLD SALE RESIDENTIAL DEVELOPMENT OPPORTUNITY

Key Highlights• Rare residential development opportunity

in one of Cheltenham’s most sought after addresses

• Detailed planning permission for demolition of existing building and erection of 12 residential apartments

• Existing commercial property and surrounding land, extending to approximately 0.36 acres (0.15 hectares)

• Freehold for sale via informal tender, unconditional offers invited

• No on site affordable housing provision

SAVILLS OXFORDWytham Court, 11 West WayOxford OX2 0QL

+44 (0) 1865 269 051

Location The Property lies within 280 meters of the popular Montpellier Gardens, located close to the centre of Cheltenham. Cheltenham is a well know regency town offering a range of high street shopping, within walking distance of the site.

Cheltenham has a variety of amenities/facilities including medical centres, sports clubs, schools, churches, shops, pubs, restaurants and it has become well known for its festivals, including the Cheltenham Festival Races. Cheltenham is well connect by road and rail with the Property located within 1 km of Cheltenham train station with links to London, Bristol and Birmingham and close by to junction 10 and 11 of the M5.

The town lies between the Cotswold Hills and the Wye Valley, and is home to numerous prestigious schools including Cheltenham College, Cheltenham Ladies College, Dean Close and Pates Grammar. Now a highly sought after place to live, the town is well known for its regency houses, set amongst formal avenues and garden squares.

Site DescriptionThis prime development opportunity extends to a total of circa 0.36 acres (0.15 hectares). The Property currently comprises an existing majority 2 storey commercial property of circa 8,900 sq ft, set back from the road. The Property is currently vacant and accessed directly from Parabola Road with parking to the rear.

PlanningThe Property was granted detailed planning permission on the 22nd of January 2020, this included the demolition of the existing building and construction of a new apartment building of 12 residential apartments (Ref: 19/00111/FUL). Below is a summary of the main relevant conditions attached to the decision notice:

• Prior to any works on site a site investigation and risk assessment shall be carried out to assess the potential nature and extent of any contamination on the site;

• Prior to the commencement of development a Tree Protection Plan shall be submitted.

• The signed S106 agreement provides for an offsite affordable housing contribution of £180,000.

Further information and documents relating to this planning permission can be located within the Data Room, details on how to access this below.

Proposed DevelopmentThe proposed scheme forms a mix of two and three bedroom apartments across four storeys in an attractive contemporary building.

Externally the existing vehicular access will be used to provide parking for 18 spaces and cycle storage at the rear of the property.

New Homes Pricing New homes pricing is available on request, please contact sales agent.

Redevelopment OptionsThe property is not listed, but is located within the Cheltenham Central Conservation Area. The property has potential for redevelopment for an alternative use or alternative residential scheme, both of which would be contingent procuring the necessary consents.

LegalThe site is held freehold at the Land Registry under the Title Number GR250923. Copies of the relevant documents are provided in the Data Room.

ServicesProspective purchasers are advised to make their own enquiries regarding the suitability and capacity of services with the relevant authorities.

SAVILLS OXFORDWytham Court, 11 West WayOxford OX2 0QL

+44 (0) 1865 269 051

savills.co.uk

Not to scale - for illustrative purposes only

Method of SaleUnconditional offers are invited from interested parties. Please note that the Vendor will not be obligated to accept the highest or any other offer.

In order that we are able to accurately appraise all offers on a like for like basis, please review the offer criteria located within the Data Room for information that is required within your offer.

VAT The property is VAT registered and VAT will be chargeable in addition on the sale price.

ViewingsInterested parties are able to view the Property from Parabola Road, however if you would like to walk the Property please contact the selling agent to arrange an appointment.

Please note that neither the Vendors nor their agents will be responsible for any damage or loss caused to any potential purchasers, their agents or consultants

while on site. Please be aware that due to the developing situation surrounding COVID-19 we may not be able to accommodate viewings depending on Government advice and internal company requirements. However, please contact the selling agent to enquire and we will inform you of our latest position on accompanied viewings.

Local AuthorityCheltenham Borough Council, Municipal OfficesPromenade, Cheltenham, GL50 9SA+44 (0) 1242 548 024 www.cheltenham.gov.uk

Data Room Further information relating to planning, legal and technical matters, as well as the information required in support of your bid is located within a dedicated Data Room. If you would like access to this Data Room please email george.hopkins@savills.com and request access.

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Not to scale - for illustrative purposes only

Montpellier Gardens

Cheltenham Ladies College

Town Centre

Landsdown

ContactCharlotte Kurobasa +44 (0) 117 9100 319+44 (0) 7807 999 547 ckurobasa@savills.com

George Hopkins+44 (0) 1242 548 024+44 (0) 7580 587 613 george.hopkins@savills.com

IMPORTANT NOTICEMaps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | June 2020