Development/Investment Opportunity, Cockernhoe, Luton - £2,125,000

A range of farm buildings with residential planning consent, a substantial farmhouse, plus barns already converted to business use (these generate a rent of £47,000pa). All sat in approximately 1.44 acres. Available as a whole or in 2 lots.

• Planning

  Planning application 23/01029/FP was approved on 4 December 2023 and permits:

  “The conversion of an existing brick barn and stable buildings to 4 dwellings and the erection of a further 4 dwellings and garages following the demolition of 2 modern barns.”

  The planning footprint comprises:

  •            4x three-bed new build dwellings, each of 1,432 sq.ft (5,726 sq.ft in total)
  •            1x barn conversion to a three-bed house plus one bed annex totalling 2,562 sq.ft •     1x barn conversion to a three-bed dwelling of 873 sq.ft
  •            2x barn conversions to two-bed dwellings totalling 1,530 sq.ft
  •            Garages and stores in addition

  Planning has been obtained in the past for commercial uses at the property and could be considered again.

• Location

  The Property is situated just northeast of Luton in the pleasant village of Cockernhoe. Luton airport is in close proximity (2.7 miles), offering extensive employment opportunity but directly to the south so flight noise is contained. Luton main station is 3 miles (trains to London (St Pancras) from 25 mins) and the property is easily accessible on the local road network (including M1 J10 4.9 miles).

• Lot 1

  Comprising the range of farm buildings with planning permission and a 3 bed 2 bath farmhouse on a plot of circa 1.09 acres. Access from Chalk Hill. A right of access will be kept by the Vendor to their retained land adjacent to the south. The existing buildings measure:
  Farmhouse - 1,246 sq.ft
  2 modern barns (to be demolished) - 4,433 sq.ft
  Traditional farm buildings - 4,395 sq.ft
  TOTAL - 10,740 sq.ft
  Guide Price – OIEO £1,500,000

• Lot 2

  Comprising 2 former farm buildings, including a Grade II Listed Barn, which have been converted to a children’s nursery called Little Buttons. The buildings measures approx 2,707 sq.ft on a plot of circa 0.35 acres. Access directly from Brick Kiln Lane.
  Guide Price – OIEO £625,000

• Other Matters

  Method of Sale & Viewings
  The freehold of the property is offered for sale by private treaty as a whole or in 2 lots. Viewings by appointment only.

  Tenure
  The property is sold with Vacant Possession save as the whole of Lot 2 is let by way of a Full Repairing & Insuring (FRI) Business Tenancy (contracted out of the Security of Tenure Provisions) until 28 September 2032 (subject to a break on 28 September 2027). A rent of £47,000pa is currently payable with increases due.

  Services
  Mains electricity and water are connected. Private drainage by way of septic tank.

  Data Room
  Information will be available for:

  ·       Planning (residential & commercial)

  ·       The business lease

  ·       Brief report on Title

  Anti-Money Laundering (AML)
  In accordance with the most recent AML legislation, due diligence checks will be undertaken on the purchaser.

  Local Authority
  North Herts District Council.

 

For more information on this property, get in touch with Pantons.