Colchester Estate Agents
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Colchester Estate Agents
5 Bedroom other ● Bakers Lane, Essex ● £595,000
A unique opportunity to acquire an individual residential plot with outline planning permission granted for the construction of a custom-designed home. Positioned within a sought-after setting, the site offers purchasers the freedom to create a property
An exceptional opportunity to acquire a prime residential building plot with planning consent granted for an impressive detached family home in an attractive and secluded setting. Offering privacy and exclusivity, this unique site is ideal for those looking to create a high-quality bespoke residence tailored to individual requirements.
The approved scheme provides for a substantial detached property arranged over two floors, incorporating spacious and versatile living accommodation alongside four well-proportioned double bedrooms. In addition, planning permission includes a detached garage, complementing the overall design and practicality of the home.
This is a rare chance to secure a self-build project in a desirable location with the flexibility to create a truly individual property.
Information for Self-Build Buyers and Developers
Where the site is acquired by a private individual, the expectation is that the purchaser will undertake the construction of their own home in accordance with the principles set out within the Self-build and Custom Housebuilding Act 2015.
Should the land be purchased by a developer or investment buyer, it should be noted that the legislation does not place direct obligations on the landowner regarding delivery of self-build housing unless specifically required by the planning consent.
Any obligations relating to self-build or custom-build housing would only arise where secured through a Section 106 Agreement or planning condition attached to the consent. In the absence of such provisions, there are no restrictions preventing the development or onward sale of the site in accordance with the approved permission.
Potential Stamp Duty Benefits
Self-build projects can provide attractive financial advantages when compared to purchasing a completed property. One notable benefit is the potential saving on Stamp Duty Land Tax (SDLT).
Unlike a standard residential purchase, where SDLT is calculated against the full market value of the completed home, self-build purchasers generally pay SDLT only on the acquisition price of the land. This can represent a considerable saving depending on the overall end value of the finished property.
- Property reference CWR080213662
- Tenure Freehold
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Colchester Estate Agents
Property information contact details
David Chinery
Valuer
Without a doubt there are two large driving forces for people moving to the area. The excellent range of private and state schools. The grammar schools annually top the league tables across the country. The range of private schools offer a more tailored education and are exceptionally well sought after. The second, being value for money, although, as the town grows, house prices within the area look to rise steadily within the coming years.
- £375,517 Average price paid Source: Land registry
- 1,739 Registered applicants with branch Source: Chewton Rose
- 5,972 Properties sold in last twelve months Source: Land registry
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The information displayed about this property comprises a property advertisement. This property advertisement does not constitute property particulars. The information is provided and maintained by chewton rose. Please contact the chewton rose office directly to obtain full property particulars and any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 and The Home Information Pack Regulations 2007.
The information displayed about this property comprises a property advertisement. This property advertisement does not constitute property particulars. The information is provided and maintained by chewton rose. Please contact the chewton rose office directly to obtain full property particulars and any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 and The Home Information Pack Regulations 2007.
