Land for 10 x House Development

Site
Former pub, now demolished and site cleared
0.67 acres
On an incline, but level in the middle of the site where the pub and car park were located
 
Local Property Market 
Circa £200-£270/sqft GDV range
16% capital growth over the past 12 months, 43% past 5 years
Sellers market, high property demand, capital growth expected to continue
 
Purchase
Vendor is looking for around £600k, but will take £575k STPP provided a timeframe on the offer is agreed.
 
Planning
Consented on 28 Apr 2021
Application No: 21/00338/POUT (PP-09514662)
Application by: Direct Land Investments
Location: Site Of Ma Hubbards Public House, Greenwood Road, Nottingham
Proposal: Residential development (outline) of 9 dwellings
 
ARC Design Studio (architects and planning consultants) have spoken to the LPA and received positive feedback regarding the resubmission of planning for a single block of 22  x 1 bed flats over 3 floors, subject to there being evidenced demand for supported living in the area. Supported living use is generally in favour with council for this area, however a letter from a local authority representative would suffice in supporting the application.
 
Preferred redesign with positive feedback is to replace the bungalow with another pair of semi-detached houses to create 10 x 4 bed semi-detached houses.