A Former Water Tower with Land Measuring Approximately 0.37 Acres. Offered With Planning Permission for Conversion to Provide Two Apartments together with 11 Additional New Build Apartments.

The property comprises a 26 metre high former water tower together with surrounding land. The site is L shaped and measures approximately 0.37 acres.

Tenure

Freehold

Location

The property is situated in the established residential area of Fernwood, aproximately 2 miles south of Newark. Shops and amenities are found close by. Numerous local parks are within easy reach. Transport links are provided by Newark Castle Rail Station.The town is also served by the A1, A46 and A17 trunk roads.

Planning

Newark and Sherwood District Council granted the following planning permission (ref.18/00474/FULM) on 7th September 2018 for: "conversion of existing Water Tower into 2 dwellings (apartments), with 11 additional new build apartments on the same site." There is a document on the planning portal which suggests the section 106 contribution will be £42,968. This is merely a recommendation and the Newark planning department have confirmed that this is not applicable for the development. There is also no affordable housing allocated to the site and no CIL paymet due. The site also has lapsed planning consent for the proposed conversion and extension of the building to create a restaurant and bar (A3 and A4 Use).

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.