Former Colonial Bar, Portsmouth Road, Horndean South East

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Offers Invited

Description

The Former Colonial Bar sits on a plot extending to 0.14 hectares and is located on the north-western side of Portsmouth Road, approximately 700m north of the junction between Catherington lane, Portsmouth Road and the B2149 which provides direct access onto the A3M.

The immediate area is primarily residential, however some commercial and light industrial units can be found on the opposite side of Portsmouth Road.  the land is flat and lies outside the Environment Agency Flood Plain.  the site is being offered for sale on a freehold basis.

The Colonial Bar itself was demolished in 2016 by the current owners and is now dominated by hardstanding however there are a number of trees on the site that are subject to Tree Preservation Orders.

Planning

The property may be suitable for maybe suitable for alternative uses.  A planning application was submitted in 2016 for the redevelopment of the site to provide 9 flats, but was refused by the Local Authority in December 2016.

Services

We believe that all main services are located in the vicinity of the site; however prospective purchasers should make their own enquiries with the appropriate service providers.

Location

The site is located on the A3, Portsmouth Road in Horndean, which is conveniently located close to major strategic road networks, and in close proximity to Portsmouth, Southampton and the wider south coast.

Information Pack

Only basic title information is available at this stage and purchasers should make their own enquiries with regards to planning and potential change of use.

Tenure

Freehold : The land is offered with vacant possession.

Legal Cost

Each party will be responsible for their own legal costs.

The sale of the Colonial Bar will be subject to the following conditions:

Upon an offer being formerly accepted the purchaser will have 3 working days within which they must lodge a £10,000 non-refundable deposit with the vendor’s solicitor. The deposit will be held by the vendor’s solicitor until the point of completion, at which point it will then be deducted from the completion balance. The legal pack will not be issued until this deposit is lodged. If the deposit is not lodged within this period then the vendor reserves the right to remarket the site

If the sale is aborted due to a title matter coming to light which would not be acceptable to a prudent buyer (or mortgagee) acting reasonably and which cannot be remedied by title indemnity insurance, then the deposit will be returned to the buyer. If the sale is aborted for any other reason, then the £10,000 deposit will be forfeited.

The £10,000 deposit will grant the purchaser exclusivity up to the point of exchange of contracts.

Upon receiving the legal pack the legal pack the purchaser will have 15 working days to exchange contracts on 10% of the purchase price. Following exchange of contracts the purchaser will then have a further 15 working days to complete the transaction.

VAT

VAT will be charged on the sale price.

SKU: CAL065
Property type: Land

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Caldecotte Group