Go back

House For Sale Orchard Way, Middlesbrough, TS7

£280,000

Modern Auction
1 of 3
  • Description
  • Street View
  • Maps

Key Features

  • Outline Planning
  • 6 Bungalows
  • Land
  • Development Site
  • Investors
Last Updated: 6th January 2021

Description

Auction - Land to the rear of 50, 52, 54 Orchard Way, Ormesby.

Unique chance to purchase a development opportunity in Ormesby, which situated behind the properties lying north of The Pied Piper pub, shown in the location plan. The site will be accessed by the driveway of number 54 Orchard Way, this will lead down to the proposed development. The size of the site is approximately 0.5acres (2000 square meters). Current owner recently sought advice about taking ownership of an additional piece of land adjacent to the plot, currently unregistered which would extend plot approximately an extra 400sqm, backing onto the pub car park shown in the location plan in green. The Land can be accessed via two entrances to create a one-way style if this suits the developers proposed development over the single entrance. The site has the benefit of planning permission for six residential bungalows, a copy of the land pack can be provided by contacting the Land Team.
Town planning
The site currently benefits from outline planning permission (Planning Ref: R/2016/0286/OO) for Six Semi-detached Bungalows all with individual allocated parking.
Interested parties must satisfy themselves that their intended scheme is acceptable, by speaking with Redcar and Cleveland Borough Council planning department (Tel ).
Tenure
The Land is available on a freehold basis.
Services
We understand the mains services are located within close proximity to the site, but urge interested parties to make their own enquiries with the various utility companies.
Offers
The plot is offered for sale via the sole selling agent LSL Land & New Homes.
The vendor is seeking to dispose of the site on an unconditional basis.


Viewings
The site can only be viewed by appointment only; interested parties wishing to inspect the site can do so by contacting the agent Matthew on .

Auctioneers Comments:

This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the buyer to exchange contracts immediately; however, from the date the draft contract for sale is received by the Buyer's solicitor, the buyer has 56 DAYS in which to complete the transaction, whilst using every endeavour to exchange contracts within the first 28 days. Allowing the additional time to exchange contracts means interested parties can proceed with traditional residential finance. Upon close of a successful auction, or if the vendor accepts an offer during the auction, the buyer will be required to make payment of 4.2% Reservation fee, subject to a minimum 6,000 Inc VAT. Fees payable in addition to the purchase price.


IMPORTANT NOTE TO PURCHASERS:
We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Please be advised that some of the particulars may be awaiting vendor approval. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller.

LLW180004/2
Agent Details
Your Move Sales
56, The Estate House, Hall Gate, Doncaster, DN1 3NE
Show Contact Number
01302 340 444
**This report is currently a Beta Test Version. Do not rely on the information provided below.

Forecast Score

Based on data and factors which historcally influence property prices this property has an overall score as:

Data Classified:
This property has been partially classified.
0.0

Forecast Report

Our predictive algorithms and data analysts; scan, compare and rank properties by future gains and current returns; helping you pick the perfect investment at a glance.

The following influencers contribute to our score:
  • Historical Data
  • Interest Rates
  • Mortgage Availability
  • Fiscal Policy
  • Recent Sold Prices
  • Housing Demand
  • Benchmarking Performance Against Other Asset Classes

Comparison with local sold prices

There is not enough data available
0

Profitability

Good rental demand in this area.
Compared to other property investments this gives a very poor return.
0

Interest Rates

Bank of England Base Rate:
0.1%
Current all-time record low interest rates are making monthly mortgage payments more affordable so more people will buy houses, which will lead to house prices increasing.
10

Mortgage Availability

Current moderate appetite for banks to lend mortgages, will lead to steady house price growth.
5

Fiscal Policy

First Home Stamp Duty:
£0
Buy To Let or Second Home:
£8,400
The governments recent policies, including lower taxes for this property price band will lead to potential future price growth.
8.9

Comparison with other investment alternatives

Investing in this property will give you a lower return, when compared to other conservative investments.
0

Investment Analysis

Annual Rent:
Annual Mortgage Interest:
Annual Costs:

Calculators

These figures are for illustration purposes, please adjust for greater accuracy.
Yield
£
£
£

%
%
Purchase Price
£
Mortgage
Interest Only / Repayment
%
£
%

£

Mortgage Finder

Show me the cheapest mortgage for this property matched to my personal circumstances and risk appetite.
No minimum income required

Similar Properties

A few properties that are similar to this property. See more properties like this.

Property Image
8.9
£100,000
Semi Detached
Yield: 8.34%
ROCI: 27%
Property Image
8.8
£160,000
Semi Detached
Yield: 8.25%
ROCI: 27%
Property Image
7.2
£67,000
Semi Detached
Yield: 7.68%
ROCI: 24%
See More Properties
Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

One&Only Pro are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
This is the potential achievable yield.
Potential Return-on-Cash Invested