For Sale

Road, Rostrevor, County Down , BT34 3AA

From

£1,500,000

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Site

Location of Road

This site has been the home of J.C Campbell, car sales for 3 generations and is situated along the A2 coastal route as one leaves Rostrevor heading towards Killowen and Kilkeel, on the left hand side.

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description

q PLANNING Full planning consent for the entire J.C. Campbell garage site was approved on 20th December 2017 under Planning Ref P/2009/1336/F. Whilst the consent is for the approval of "a new 70 Bed Nursing Home, together with 41 No. 2 & 3 bedroom apartments with associated site works, landscaping and car parking ( including at grade and undercroft car parking)", the land available to purchase relates to the Housing Site for 41 units, situated at the southern end of the Garage Site, excluding the existing Garage Buildings. Copies of the Planning Consent are available on request. q RESIDENTIAL MARKET Rostrevor is considered as a sought-after location nestled between mountains and sea, and in recent years had become even more popular with bikers attracted to Kilbroney park and miles of bike trails extending into the Mournes. The village is constrained by sea and mountains from significant expansion and the subject site presents a rare opportunity to try and satisfy the strong demand for residential property in this locality. In any given 12-month period the demand for either resales or new homes in the Rostrevor area far outstrips supply. Resale prices in the Seafields Court apartments overlooking Carlingford Lough between Warrenpoint and Rostrevor have been achieving between £225 and £240 per sq ft in 2018. q SUBJECT SITE The overall site area approved for Residential Development extends to approx.. 1.45 acres and consist of 6 no. 2 and 3 storey apartment blocks located around a central courtyard and area designed for parking. The proposed 41 apartments extend to a gross floor area of c.3800 m2. . q PROPOSAL The vendor intends relocating the car showroom business to a new site elsewhere and is offering the entire site in two phases:- Lot 1 Approximately 1.45 acres with full planning for 41 residential units (as outlined in red on the attached map). Lot 2 The remainder site extending to approximately 0.95 acre currently in use for car sales but with current Planning Consent for a 70 bed Nursing Home. We are advised that there is a possibility this Planning could possibly be replaced with Residential Development and this may be discussed with the selling agent. The vendor would prefer to offer Lot 1 now and Lot 2 at a later date unless a purchaser specifically prefers to acquire both Lots together. q ACCESS The proposed Development road coming off the A2 coastal route is located where the existing workshop building (nearest Killowen) stands. The vendor proposes after a buyer has been identified and contracted, to demolish the workshop building prior to completion of sale and retain a temporary right of access over the access strip until the buyer of Lot 2 has been identified, in order to facilitate the vendor's access to Lot 2. q OPTION ON SITE 2 In the event that an intending buyer of the Residential site wishes to take an option to purchase Site 2, this may be discussed with the selling agents. q LAND REGISTRY The lands in sale are comprised within folio DN125907 and part of folio DN175606L q OFFERS We reserve the right on behalf of the vendor to conclude the bidding (if necessary) by holding a meeting of all the bidders on a specified date and time in our office. In the event that a meeting is to be arranged only those interested parties with a valid offer on the property by the closing date can be assured of being notified of the specific time and date. q VENDORS SOLICITOR K Connolly SC Connolly, 1 Downshire Road, Newry, BT34 1ED Tel: 02830265311 q VIEWING By appointment with the selling agents q GUIDE PRICE Offers around £1.5 million q CLOSING DATE FOR OFFERS 21st June 2019

Property Costs

  • Status: For Sale
  • From£1,500,000
  • Stamp Duty: £78,750*

* Stamp duty rates provided as a guide only. Additional charges may apply. Please refer to the tax service's website for more information.

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