For Sale by Modern Method Auction. This is an excellent opportunity to acquire a development site with full planning permission for 11 homes in a popular residential location in Reading.
The site is currently occupied by 4 houses, which will be demolished to make way for the new development. The new homes will comprise a mix of 4 and 3 bedroom townhouses and semi-detached houses.
The Gross Development Value (GDV) of the site is estimated to be between £5m and £5.5m. The development includes two affordable homes and a Section 106 Payment of £75,000.
The site is located in a quiet, well-established residential area within walking distance of local shops, schools and amenities. It is also well-served by public transport, with regular bus services to Reading town centre.
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.

Shared Ownership: No