Land for Sale Kingswood, Surrey
Location: Kingswood
County: Surrey
Details: Land for sale in Kingswood, Surrey with No Planning Permission for Investment purpose. London’s stock broker belt surrounded by real countryside, most of the properties in the area are large detached family homes set in mature gardens, making it a truly peaceful and beautiful place to live.
It is surrounded by rolling hills with the North Downs, Box Hill, Epsom Downs and Walton Heath just a short distance away.
Factors affecting the sites likelihood of receiving Planning Permission;
1. The site is in between existing housing developments so the effect on the greenbelt countryside and areas of natural beauty would be minimal.
2. Utility infrastructure is already there because of the existing housing, for example sewage, gas, water, electric. This helps enormously in gaining planning permission.
3. Transport infrastructure is in place to support the extra traffic that will result.
There is access actually onto the site via Chipstead Lane and Brighton Road.
Next to the A217 London to Brighton road, a dual carriageway, and a large roundabout has already put in place to deal with increased traffic in the area.
Three miles to junction 8 of the M25 the main London motorway ring road.
It is seventeen miles to Central London.
It is twelve miles to Gatwick Airport.
Local train station has main line services to Central London via London Bridge and London Victoria via East Croydon.
Transport improvements help gain planning permission for land and the Olympics will have a positive effect on this site. There are improvements to local train services and crucially the Victoria tube line will be upgraded.
“The Victoria station itself will be upgraded at the cost of 500,000 million pounds. The size of the station will be increased by 50%.”
Source: Olympics (Alwaystouchout.com – Olympics)
4. Amenity infrastructure. Locally the village of Kingswood has shops including a newsagents, post office, Church and pub. Locally there is a supermarket, golf courses and the famous Epsom Race Course, home of the Derby, nearby.
5. The local economy is one of the most dynamic and fastest growing in the United Kingdom.
“The leading sub-regional economies of the South East are the London Fringe and Western Corridor, incorporating Surrey, Banstead and Kingswood.”
“Both have benefited from significant economic growth resulting from foreign investment, customer driven growth, growth in HQ, administrative and branch offices as well as indigenous growth in leading edge and technology sectors.”
“The London Fringe has seen growth in local business and financial services often decentralising from London and serving a wealthy and growing local customer base.”
Source: South East Plan Part 2, London Fringe Sub-Region. The economy and employment situation in the London fringe sub-region. South East England Regional Assembly News Bulletin (southeast-ra.gov.co.uk/southeast plan).
6. The Government is promoting house building in the area.
The South East England Regional Assembly (SEERA) prepared the South East Plan which determined the number of houses that will be built from 2006 to 2026. In Surrey it is 47,200 or 2,360 per annum at least. The local County Council then had to submit a draft plan on how to meet this quota.
Surrey County Council decided the housing allocation for the boroughs. Of the 11 boroughs Reigate & Banstead one of the smaller sized areas geographically was given the highest housing allocation per annum at 385.
Source: South East Plan – Part 2 Consultation. District Level Housing Allocations in Surrey; ‘The South East Plan – The Future of Housing in Surrey’ South East England Regional Assembly News Bulletin (southeast-ra.gov.co.uk)
House prices in the local area.
“The London Fringe, incorporating Surrey, Banstead and Kingswood is one of the most expensive areas in England to buy or rent a house.”
“In the 3rd quarter of 2005 average house prices in Surrey stood at 325,799 pounds, 67% above the average for England and Wales and 38% above the average for the south east.”
Source: South East Plan Part 2, London Fringe Sub-Region. Affordable Housing, 9 December 2005. South East England Regional Assembly News Bulletin (southeast-ra.gov.co.uk/southeast plan)
Detached houses are most in keeping with the area and will be submitted in the initial concept plan for approval by the local planning authorities in Reigate & Banstead.
Recent property sale prices in the immediate area.
A search of new build detached houses sold in 2003-4 in the local area reveals prices directly around our Chipstead Lane site. The land is on postcode area KT20 6. A property sales search engine shows that ten detached new build properties were sold in 2003-4.
6 Tangier Wood KT20 6AG sold 19/08/2004, GBP 390,000
1 Wood Lane KT20 6AH sold 31/08/2004, GBP 393,000
124 Brighton Rd KT20 6AQ sold 26/11/2004, GBP 342,500
142 Brighton Rd KT20 6AQ sold 19/07/2004, GBP 405,000
144 Brighton Rd KT20 6AQ sold 30/09/2004, GBP 550,000
West Way, Brighton Rd KT20 6AR sold 07/05/2004, GBP 233,500
Maylund, Brighton Rd KT20 6AR sold 23/07/2004, GBP 250,000
Norfolk Lodge, Alcocks Lane KT20 6BA sold 17/08/2004, GBP 612,500
Plot 2, Foxgrove KT20 6BB sold 25/07/2003, GBP 825,000
Plot 3 Foxgrove KT20 6BB sold 03/10/2003, GBP 830,000
Source: Proviser house price search engine (proviser.com/property_prices)
The above examples were houses sold in 2003-4 details for 2005 are not available at the moment.
Potential returns from Chipstead Lane, Kingswood, Reigate, London;
The average price of these ten properties is GBP 483,150 More than 50% of the cost of these new houses was the land, but we will use 50%.
Across the board the average house price is GBP 483,150 therefore 50% of this figure is GBP 241,575. This is approximately the value of the land.
Our site is fifteen acres in total area, or 60,750 square metres.
The number of houses planned for this site is 221.
So, the average house land plot size is 60,750 square meters divided by 221 houses equals 275 square metres per house.
GBP 241,575 divided by 275 square metres is GBP 881.27 per square metre.
The current purchase price of land at this site is GBP 100 per square metre.
In summary at today’s prices, this site would return approximately eight to nine times return on investment.
This is a substantial return
Contact Owner