This project for 16 newbuild apartments in the market town of Newark, Nottinghamshire, is the latest addition to our Property Highlight series.
The site is a clear and rectangular-shaped piece of land of approximately 0.48 acres (0.19 hectares) and is well-situated within walking distance of Newark town centre, on the northeastern corner of the junction of Beacon Hill Road and Cafferata Way.
Planning permission was granted (following appeal) by Newark & Sherwood District Council on 16 April 2007 for a new 16-apartment complex with 19 car parking spaces. The preservation of the mature trees along the boundary with Beacon Hill Road will maintain a natural privacy barrier. None of the units is required to be affordable, nor is there a Community Infrastructure Levy (CIL) applicable. Further information is available using planning references APP/B3030/A/06/2030080 and 05/02257/FULM. All planning conditions have been discharged and the required off-site commuted sum paid, therefore, the planning permission has been implemented. Written confirmation of this, a copy of the S106 agreement and any other details can be provided upon request from the agent.
The development's proximity to the Beacon Hill Office Park, Brunel Business Park and Beacon Hill Day Nursery will be attractive to potential homebuyers, as well as the short 1 hour 13 minute journey time to London King's Cross from Newark North Gate train station. The site is also close to the A1 and A46, within a short drive to Lincoln, Nottingham and Grantham. Newark is well-known for its market, surrounded by attractive Georgian buildings, which, coupled with its Castle and strong reputation for antiques and antiquities, ensures it is popular with residents and visitors alike.
The case details
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Financial details
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Agents figures
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Market data
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Investment details
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By the team at Navian, Published February 7, 2023
