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Newbold Rd - Land at 1.48 Acres of Industrial Land Offered at £1,800,000 in Rugby CV21 2NZ
INVESTMENT HIGHLIGHTS
- Prominent freehold residential development opportunity.
- Located less than 1 mile from Rugby Town Centre.
- In close proximity to various Ofsted rated 'Outstanding' and 'Good' Primary and Secondary Schools.
- Full planning permission for development of 122 apartments with car parking.
- Less than 15 minute walk from Rugby Railway Station and Junction One Shopping Park.
- Excellent public transportation links and connectivity.
EXECUTIVE SUMMARY
The development of a part-3, part-4 and part-5 storey building comprising 98 apartments and the provision of 61 car parking spaces with associated communal services and landscaping. A s73 application was approved in 2020 (R19/0902) to amend the approved plans in respect of the consent. An extension of the approved 2018 scheme from 98 apartments to 122 apartments including the provision of 73 car parking spaces was granted in 2020 (R19/1496). Planning permission was granted for: “The extension of the approved scheme at 117 Newbold Road, Rugby from 98 apartments to 122 apartments including the provision of 73 parking spaces, secure cycle and refuse storage and new planting and landscaping”. Additional basement storage was added in 2023 (R23/0357), and later that year Condition 12 pertaining to the Construction Management Plan in respect of R19/1496 was discharged. There are various additional planning conditions which will need to be discharged. The planning consent is subject to a s106 agreement, which requires an indexed payment of a Sustainable Travel Packs Contribution of £7,350 to be paid to the Council prior to the commencement of development, and a TRO Contribution and TRO Extension Contribution of £3,000 each payable prior to the commencement of development and prior to first occupation respectively. We understand there is no requirement for affordable housing and no CIL is chargeable on the proposed scheme.
PROPERTY FACTS Sale Pending
| Price | £1,800,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Industrial |
| Tenure | Freehold | Proposed Use | Build-to-Rent |
| No. Plots | 1 | Total Plot Size | 1.48 ac |
| Price | £1,800,000 |
| Sale Type | Investment |
| Tenure | Freehold |
| No. Plots | 1 |
| Property Type | Land |
| Property Subtype | Industrial |
| Proposed Use | Build-to-Rent |
| Total Plot Size | 1.48 ac |
1 PLOT AVAILABLE
Plot
| Price | £1,800,000 | Total Plot Size | 1.48 ac |
| Price Per ac | £1,216,216.22 |
| Price | £1,800,000 |
| Price Per ac | £1,216,216.22 |
| Total Plot Size | 1.48 ac |
*PRICE REDUCTION* The property comprises a vacant and substantively cleared brownfield freehold development site of approx. 1.48 acres. The site is broadly rectangular in shape with vehicular access off Newbold Road.
DESCRIPTION
The property comprises a vacant and substantively cleared brownfield freehold development site of approx. 1.48 acres. The site is broadly rectangular in shape with vehicular access off Newbold Road. The site is elevated above Newbold Road and Wood Street supported by a retaining brick wall. The site is treelined to Wood Street. There are two vacant brick-built buildings to the southern boundary and a disused bituminous and concrete surfaced car park. The property has full planning consent for the development of a part3, part-4, part-5 storey building comprising 122 apartments and 73 car parking spaces with associated communal services and landscaping
Presented by
Newbold Rd - Land at
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