FHP SELL RESIDENTIAL LAND IN CARLTON

Residential Land News

FHP Property Consultants, acting on behalf of Vendside Limited, the Pension Fund for the National Union of Democratic Miners, have completed the sale of a site of 1.233 acres at Oakdale Road in Carlton, Nottingham with Planning Permission for 16 family houses.

Nick Trow of the Residential Land team at FHP said:

“We were delighted with the amount of interest in this small residential site, particularly as a result of the well documented difficulties of the residential housing market.

We received 6 offers for the site and eventually sold it after “best bids” to Langley Homes of Retford.”

The price achieved of £600,000 breaks back to £486,000 per acre or £30,000 per plot.

David Hargreaves said:  “In the past 12 months we have seen a gradual rebirth of the residential land market, particularly for “oven ready sites” with Planning Permission suitable for an early start for construction.  Values being achieved, however, are some 30% – 40% off those land values achieved at the peak of the market back in 2006/2007.”

Dave McGarry of Vendside said: “FHP did a great job in selling the site, achieving a price in excess of our aspirations and managed to achieve a sale with the benefit of the existing Planning Consent rather than on a “subject to planning” basis.”

Nick Trow commented that FHP were marketing a number of residential development sites including a plot in Oakham, a site of 1.4 acres at Hucknall with Planning Permission for 23 houses, a 5.5 acre site at Clifton, a 2.3 acre site in Aspley, a 10 acre site at Kings Clipstone, a 1 acre site in Stoke On Trent and a 2.25 acre site at Hucknall Road, Nottingham.