FOR SALE Two exceptional development sites in the heart of Britain s Ocean City
Colin Campbell Court PL1 2SR w Gateway sites of strategic importance w Available separately or as one package w Suitable for high quality mixed use development (STP) Land west of Bath Street PL1 3LT w Within walking distance of Plymouth s vibrant city centre and waterfront w Potential for up to 350 residential units, to include Starter Homes overview OPPORTUNITY the sites loction masterplan planning form of sale contact
CGI rendering of potential Bath Street development CGI rendering of potential Millbay Link development The opportunity Plymouth City Council has acquired the freehold of two exceptional development sites; land west of Bath Street and phase one of Colin Campbell Court, in order to promote redevelopment of the city in line with a wider masterplanning and regeneration programme. This forward thinking has allowed the Council, with support from the Homes and Communities Agency, to secure freehold development sites in key strategic locations. Plymouth City Council require high quality regeneration of these strategic sites, that will translate the vision laid out in the masterplan and provide a range of housing, including Starter Homes, and modern commercial space; creating viable and vibrant communities. The Council is seeking a developer who can bring such a vision forward; one who has a proven track record in delivering mixed use schemes and who has a commitment to quality. Bath Street and Colin Campbell Court are both key to realising a physical connection between the City s west end and the waterfront at Millbay. overview
Land west of Bath Street PL1 3LT Colin Campbell Court PL1 2SR w Approximately 0.836 ha (2 acres) w Currently mixed commercial units and car parking w Structures on site to be demolished w Potential water views to the south w Approximately 1.035 ha (2.55 acres) w Currently comprises public car park and retail/leisure uses w Retention of Colin Campbell House preferred Southern land parcel in the process of being acquired. The sites overview OPPORTUNITY the sites loction masterplan planning form of sale contact
location With a population of 261,000, economic output of 4.5 billion and 105,100 jobs, Plymouth is the most significant urban area on the South West peninsula. A further 100,000 people live within the city s travel to work area. There are 16 daily rail services running each way between Plymouth and London during the working week, three of which are high speed services offering journey times of just over three hours. Exeter International Airport in approximately 1 hour away by road, and Brittany Ferries offer regular services to mainland Europe from Plymouth s ferry port. As Britain s Ocean City, few places can rival its rich cultural, natural and built assets. As a centre of excellence for marine science and manufacturing, the city has a unique set of competitive advantages on which to build upon in its transition to a more competitive and thriving knowledge-based economy. Its high quality educational infrastructure, including two universities and a substantial pool of young talent, continues to grow, playing an ever increasing role in supporting economic growth agendas. Plymouth s GVA (Gross Value Added) is 5bn, with 7,250 businesses, 5.5m visitors, and a tourism value of 337m. Further information on investing in Plymouth is available at the following website: http://www.plymouth.gov.uk/invest Plymouth offers an outstanding quality of life, with its fantastic location by the sea and the dramatic expanse of Dartmoor National Park as a backdrop. The sheltered waters of Plymouth Sound and adjacent rivers offer the perfect location for a huge range of water-based activities from sailing, paddleboarding, wakeboarding to scuba diving the many wreck sites.
The masterplans In 2015 Plymouth City Council commissioned LDA Design to assist in the preparation of masterplans for the city centre and waterfront. The purpose of these masterplans is to inform the vision and regeneration objectives for the area as well as the development site allocations for the Plymouth and South West Devon Joint Local Plan. The masterplans will help to prioritise the co-ordinate investment and infrastructure delivery. The draft masterplans are being consulted on alongside the Local Plan consultation during the summer of 2016. Copies of the masterplan extracts can be downloaded from the data room. Continued > overview OPPORTUNITY the sites loction masterplan planning form of sale contact
A synergy between the Bath Street and Colin Campbell Court sites is created by the aspiration to create stronger links between the city centre and Millbay. The Waterfront Masterplan proposes a boulevard along the present Bath Street route, that will link the two, and which has been implemented in part already. The masterplan proposes a new residential led mixed use scheme for the Bath Street site, with a strong building line and active uses fronting the boulevard. Colin Campbell Court is strategically important as it defines the western edge of the city centre and has the potential to create a physical link to Millbay; allowing the success of residential development achieved there to migrate into the centre and spearhead regeneration. The City Centre Masterplan proposals for Colin Campbell Court propose a residential led redevelopment with active uses at ground floor. It seeks to establish a new neighbourhood on the western edge of the City Centre which introduces a greater level of activity and intensity and improves the connections between the City Centre and Millbay. The masterplans and relevant extracts can be found on the supporting data room.
planning & development requirements Plymouth City Council has provided planning statements for both Bath Street and Colin Campbell Court. These are both available in the data room. In brief, bidders should consider the following points: BATH STREET w Design and material quality to respect setting fronting Millbay Boulevard w Building heights of 5-7 storeys are sought w Active frontages sought to Millbay Road and Bath Street Colin Campbell Court w Importantly, bidders should give consideration to the retention of Colin Campbell House, one of the few city centre buildings to survive the Blitz, if viable. w Building heights of 6 8 storeys are sought w Mixed tenure residential, retail and leisure uses are welcomed In general w A minimum of 50% Starter Homes provision is required. The potential for Starter Homes to replace affordable housing can be discussed at pre-application w The Core Strategy requires at least 30% of residential units to be provided as affordable housing (subject to viability and discussions on Starter Homes) w The sites are currently exempt from CIL payments w Support the Council in a CPO if necessary to acquire key property interests STARTER HOMES The Government published the Housing and Planning Act 2016 in May of this year. The Act includes a new, broader definition of Affordable Housing and the primary legislation for Starter Homes. Affordable Housing is defined as being for people whose needs are not adequately served by the commercial housing market and now includes Starter Homes. Whilst the Act shows the Government s intentions, the mechanism for introduction of the revised definition is reserved for secondary legislation. Starter Homes are proposed to be a new form of Affordable Housing for first time buyers between the ages of 23 and 40. These newly built homes will be sold at no more that 80% of open market value, capped at 450,000 in Greater London and 250,000 across the rest of England. Drafting of the secondary legislation is underway and is expected when Parliament returns from summer recess. We are unable to provide further definition of Starter Homes, but would advise interested parties to assume that units will be valued at 80% of open market value for the purposes of bidding on the subject sites.
The sites are offered to a single purchaser, or as two separate lots. Offers are invited on a subject to planning basis, on the assumption of vacant possession and the demolition of all structures aside Colin Campbell House. Bidders should note that Plymouth City Council will consider taking back ground floor retail units, finished to shell and core, at cost where this will improve viability. Bidders should also consider other ways of providing the Council with an income stream (relevant to Colin Campbell Court where they will lose parking and rental income as a result of redevelopment) as well as a capital receipt on completion of the sale. Expressions of interest are invited by 1pm on 28 October 2016. Expressions of interest should be submitted via email (with supporting information on a memory stick if required) to: james.petherick@gva.co.uk The following information should be provided: 1. Proof of funds for the purchase and construction 2. Proposed timescales for purchase, planning and construction 3. Scheme proposals including description, sketch masterplan and draft schedule of accommodation 4. Details of proposed professional team and experience in undertaking similar developments 5. Where a party bids for both sites a phasing programme should be provided detailing delivery of both sites CGI rendering of potential Colin Campbell Court development Note that the Council require completion of residential units by 2020. Should the development not commence within 18 months of legal completion, the Council will reserve the right to buy back the site at the purchase price in order to ensure delivery. Following analysis of expressions of interest the Council will shortlist and invite parties to further submit more detail in support of their proposals including a financial offer. Quality and financial considerations (which include funding & delivery) will attract equal weighting. form of sale
Further information Further technical, planning, masterplanning and legal information is available by registering for data room access at www.gva.co.uk/plymouthsites Site inspections and developer day It is proposed to hold a developer day on Wednesday 28 September 2016; the intention being for a tour of the sites and a general Q&A session with GVA and Plymouth City Council to be held. Parties must register to attend. Subject to contract Computer generated images courtesy of LDA Design Aerial photographs dated August 2016 James Petherick MRICS DIRECT DIAL 0117 988 5331 EMAIL james.petherick@gva.co.uk MOBILE 07939 565 193 St Catherine s Court Berkeley Place Bristol BS8 1BQ DISCLAIMER Bilfinger GVA is the trading name of GVA Grimley limited, conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No 774359. If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only. overview OPPORTUNITY the sites loction masterplan planning form of sale contact