Sale of Freehold Land at Little Blagdon Farm, South of Totnes Road, Collaton St Mary

Descriptions

The opportunity relates to the freehold disposal of c. 18.42 hectares of residential development land at Collaton St Mary, Paignton., Torbay Council previously sought to dispose of the land with detailed conditions attached prescribing delivery outcomes, milestones etc. The Competitive Dialogue process undertaken was not successful. Torbay Council has therefore agreed to remove all conditions to sale (apart from a requirement to deliver planning policy affordable housing provision)., The land is allocated for residential development in both the Torbay Local Plan and the Collaton St Mary Masterplan. Detailed due diligence has been undertaken and planning consent obtained for a new highways junction linking with Totnes Road to the north, and for demolition of the vacant former farm buildings on the site., In compliance with planning policy the purchaser shall be required to deliver 30% of the proposed scheme as affordable housing, to be split between Social Rent, Affordable Rent and Shared Ownership tenures. No other delivery conditions shall apply to the sale., The sale includes an opportunity to access Land Release Fund grant funds of £850,000, payable towards infrastructure works, surveys, mitigation and other identified enabling works. In addition to this £394,000 has been set aside to forward fund s.106 works relating to an offsite flood attenuation scheme within Collaton St Mary village and the Council will make available c. 10 hectares of land on an adjacent site for ecology mitigation and offsetting., Bids will be assessed using a single criteria: Price. The Council requires that a 10% non-refundable deposit shall be payable upon exchange of contracts.