Lot 25 - Land to the Rear of Victoria Terrace, Pelton, Chester Le Street, County Durham, DH2 1NE
- Unconditional Online Auction Sale
- Guide Price* : £120,000
0.5 acre residential development site
Description
- 0.5 acre (2,020 sqm) residential development site
- Planning consent for three two-storey dwellings
- Established residential location in Pelton
- Close to local amenities and schools
- Excellent access to Chester-le-Street, Durham and Newcastle
- A1(M) readily accessible
Available for sale is this residential development opportunity, comprising a substantial parcel of land extending to approximately 0.5 acres (2,020sqm), situated to the rear of Victoria Terrace, Pelton, Chester-le-Street.
The site occupies an established and predominantly residential position within Pelton and provides an attractive opportunity for developers and investors seeking a consented residential development site. The site benefits from planning permission for the construction of three two-storey dwellings together with associated infrastructure, offering the potential to deliver a small-scale residential scheme within an established community.
The surrounding area is predominantly residential in character, comprising a mix of established housing, with the site well positioned in relation to existing residential development and a range of local amenities and services. The scale of the consented scheme is considered well suited to the established nature of the locality and provides an opportunity to create a complementary addition to the existing housing stock.
Pelton is a popular village located approximately 3 miles west of Chester-le-Street, offering a range of day-to-day amenities including local shops, schools, community facilities and recreational opportunities. Chester-le-Street itself provides a wider range of retail, leisure and professional services, together with rail connections to the wider region.
The location also benefits from good road connectivity, with convenient access to Chester-le-Street, Durham and Newcastle upon Tyne. The A1(M) is readily accessible, providing direct links throughout County Durham and the wider North East, whilst the surrounding road network offers good connectivity to neighbouring towns and settlements.
The site represents an attractive residential development opportunity, benefiting from an established location, a sizeable site area and an existing planning consent for the construction of three new dwellings.
ADDITIONAL TERMS
1. This lot is for sale subject to unconditional auction terms.
2. If the reserve price is met or exceeded, contracts will exchange with immediate effect upon the close of the auction.
3. Following exchange of contracts, parties have 28 days in which to complete the purchase (unless specified otherwise in the special conditions).
4. A non-refundable deposit of 5% is payable within 1 hour of the auction closing.
5. The winning bidder is to make payment to the auctioneer a reservation fee of 6% including VAT subject to a minimum of £6,000 including VAT. The reservation fee is payable in addition to the purchase price and is payable within 1 hour of the auction closing.
6. An administration charge of £714 including VAT is payable by the successful buyer within 1 hour of the auction closing.
7. A legal pack has been provided by the seller’s solicitor and is available to download. We strongly recommend reviewing this thoroughly and discussing any queries with your solicitor prior to bidding.
8. I acknowledge that the seller may accept my bid at any time prior to the scheduled auction end date.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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