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5 Bedrooms | 3 Bathrooms | 3 Receptions
£2,500,000
For Sale

The Paddocks, Frettenham Road, Horstead, Norwich,

Norfolk, NR12 7LB

Introduction A highly desirable residential and income producing commercial property set within approximately four acres of land located on the western edge of the charming Broadland village of Horstead at the gateway to the Norfolk Broads National Park offering a wide variety of development opportunities for owner occupiers, lifestyle buyers, investors, and developers.

This property provides for an exceptionally rare opportunity to acquire a property that will provide a tranquil home in a secluded location with a self-sufficient business operation within the curtilage of the wider site but offering purchasers a wide range of commercial and residential opportunities for future expansion and development.

The Paddocks Bungalow: A substantial detached single storey property offering three bedrooms, a spacious living room, kitchen dining room, garden room and a double garage. The property also has its own drive and enclosed landscaped garden area.

Accommodation comprises:

Entrance Hall: Door to

Living Room: 31'9 x 13'9 (9.67m x 4.19m)

Kitchen - Dining Room: 23'5 x 10'6 (7.13m x 3.20m)

Conservatory: 19'2 x 13'2 (5.84m x 4.02m)

Utility Room: 9'1 x 6'1 (2.76m x 1.86m)

Hallway: Doors to

Bedroom: 11'9 x 10'8 (3.58m x 3.24m)

Bedroom: 13'3 x 9'5 (4.04m x 2.88m)

Bedroom: 10'8 x 9'9 (3.24m x 2.97m)

Shower Room: 13'2 x 7'10 (4.02m x 2.38m)

WC: 9'8 x 3'6 (2.94m x 1.06m)

Double Garage: 24´5 x17´7 (7.44m x 5.37m)

External WC: 6'1 x 4'2 (1.86m x 1.26m)

The Paddocks "Annexe" Bungalow: The Annexe Bungalow sits just behind the main property, accessed via its own drive, The property offers generous living accommodation, that includes a large entrance hall, kitchen breakfast room, a spacious living room and an orangery, that comes complete with wood burner and roof lantern. There are also two double bedrooms and a luxury bathroom. The property has its own enclosed landscaped garden and parking area.

Accommodation comprises: Entrance Hall: With stable door to

Kitchen Breakfast Room: 16'5 x 10'4 (5.00m x 3.16m)

Living Room: 19'1 x 16'5 (5.82m x 16'5m)

Garden Room: 19'1 x 12'7 (5.82m x 3.84m)

Hallway: Doors to

Bedroom: 12'10 x 12'8 (3.92m x 3.86m)

Bedroom: 12'8 x 10'1 (3.86m x 3.08m)

Bathroom: 8'6 x 6'3 (2.58m x 1.90m)

The Commercial Buildings A concrete driveway leads past the residential properties to a range of commercial buildings to the rear of the property and located directly to the south of the residential dwellings. The units are all accessed via a vast concrete apron which allows for significant parking outside of each unit. All of the concrete area is drained via a large storm drain located within the concrete apron.

We understand from the vendors that these were originally old agricultural buildings and were developed into this existing Business Park in around 2006/2007 after an extensive refurbishment and development programme and therefore provide for an Established Use as commercial premises.

COMMERCAIL UNITS 1-5 These units are constructed from block walls, with concrete floors and box profile sheet roofing with UPVC door and windows. All units have metal roller shutter doors.

All five units are the same size and are all 8m (26.25 ft) (width) x 8 m (26.25 ft) (length)

COMMERCIAL UNITS 6-9 These units are constructed from block walls with a wooden frame with concrete floors, block walls, box profile sheet roofing with UPVC doors and windows. All units have metal roller shutter doors.

All four units are 3.5m (11.48 ft) (width) x 8.5m (27.89 ft) (length).

COMMERCIAL UNITS 10-12 These units are constructed from block walls with a wooden frame with concrete floors, block walls, box profile sheet roofing with UPVC doors and windows. All units have metal roller shutter doors.

All three units are 7.8m (25.59 ft) (width) x 8.5 m (27.89 ft) (length)

COMMERCIAL UNITS 14-16 These units are constructed from block walls under a steel portal frame construction with concrete floors and box profile sheet roofing with UPVC doors. All units have metal roller shutter doors.

All three units are 4.9m (16.08 ft) (width) x 8.17 m (26.80 ft) (length)

COMMERCIAL UNITS (STABLE UNITS) 4 UNITS

These units are constructed from block under a steel portal frame with block walls and box profile sheet roofing. The units have foam insultation to the roof. The units have metal roller shutter doors.

All three units are 3m (9.84 ft) (width) x 5.4m (17.71 ft) (length)

There is a parking area at the rear (south) of the units constructed from hardcore which is based upon an informal parking provision for the various businesses that operate at the site.

We understand that the commercial premises are all fully let to a variety of small business occupiers. As per the attached schedule below. We further understand from the owners that there is a long "waiting list" from small to medium sized occupiers who wish to occupy these small business units.

The desire for future occupiers to occupy these units is clear to see in that the business units are located on this small scale multi use site and therefore the level of security and protection afforded to these business units is high, with "on site" security afforded by the existence of the two residential dwellings. Therefore, we anticipate that the level of uptake in the future will continue to be extremely high due to the small-scale nature of the Business Park and the pleasant working conditions that the site and its surrounds affords.

There are numerous and wide-ranging opportunities for investors and developers looking to acquire this property which will provide significant asset management and development opportunities.

These opportunities extend to:- - The opportunity to formalise the occupations of the businesses on the site to show a secure and regular income stream.

- The ability to construct and develop further commercial premises on the site. To the south and east of the site, there is further land which could present an ideal opportunity for developers and investors to apply to the Local Planning Authority (LPA) to extend the Business Park even further and provide additional units and therefore increase the income generation of the site.

- The site already has an established commercial use and therefore it is likely that the Local Planning Authority may be willing to provide for additional units to be constructed on the land to the rear of the existing site subject to gaining the necessary formal planning approvals).

Schedule of Commercial Buildings

UNIT RENT [PER ANNUM] TOTAL (PER ANNUM)

1 £5,280.00

2 £5,280.00

3 £5,280.00

4 £4,260.00

5 £4,260.00

6 £2,160.00

7 £2,160.00

8 £2,160.00

9 £4,080.00

10 £4,080.00

11 £4,260.00

12 £4,260.00

13 N/A

14 £5,880.00

15 £4,080.00

16 £4,080.00

TOTAL £61.560.00

**Please note there is no Unit 13**

Building Plot (Single Residential Dwelling) The existing owners have already recently been granted planning permission for a single residential dwelling with frontage onto the Frettenham Road. The Planning Reference for

Broadland District Council is 20191686. This application was refused however this application was granted on Appeal in a Decision Notice dated 20th July 2021 by the Planning Inspectorate (PINS).

The key aspect of this appeal decision was that the Inspector stated in his decision that the site was located in a "sustainable" location with close access to a wide variety of services.

This plot has recently been sold to an individual to build a Self-Build dwelling and therefore this parcel of land will not form part of the land which is marketed for sale (this is marked in blue on the Site Plan).

The Land The site in totality extends to approximately 4.1 acres (1.6ha) as shown within the red line Site Plan. This includes the totality of the site within the Land Registry Title Number: NK317573. The site is principally utilised as paddocks for the grazing or horses. The existing use of the property as the Paddocks bungalow and the associated annexe together with Business Park makes up the remainder of the site.

The land gently slopes northwards down towards the Frettenham Road with the highest point being the southernmost part of the land where the Business Park is located.

Lease on Roof Panels The solar panels on the roof of The Paddocks Bungalow have a lease on them in favour of Norton Energy SLS Limited.

Overage Agreement Depending upon the nature and financial level of any offers received will determine the likelihood of insisting on an Overage Agreement in respect of the land. If the offers are considered to be acceptable to the vendors, then there will be no overage agreements, although they reserve the right to negotiate on this matter after offers are received.

Planning & Development Matters The site lies within the jurisdiction of Broadland District Council.

The site lies immediately adjacent to the Development Boundary (Settlement Limit) of Horstead within the neighbouring settlement of Coltishall located only a short walk away.

Possible Future Development

Residential (Existing Dwelling and Land) The Joint Core Strategy (JCS) for Broadland District Council identifies Horstead and Coltishall as a "Service Centre". This therefore implies that the locality has a wide range of services available locally for day-to day living. Indeed, within a short walk of the property there are the following services available:-

- Primary School

- Fuel station and shop

- Doctors Surgery

- Village Hall

- Recreation ground

- Convenience Store

- Public House

- Farm shop

- Other local "independent" shops The impending Greater Norwich Local Plan (GNLP) which is currently going through the Examination in Public (EiP) AS OF March 2022 and identifies Horstead as a location with a good range of core and secondary services and good transport links.

The village clusters policy 7.4 and small-scale Housing Windfall Development policy allows for an amount of growth in those villages where there is primary school capacity and Horstead has a primary school which has the ability to grow further.

The Parish Council are currently working on a Neighbourhood Plan which will become part of the Councils adopted Development Plan policy when it is formally adopted in line with the National Planning Policy Framework (NPPF).

Therefore, in line with the National Planning Policy Framework (NPPF) which promotes sustainable development and considering recently approved appeal site for a single residential dwelling. The Government Inspector in his decision letter stated that this is a suitable and sustainable location for development. Therefore, the land to the rear of the recently approved dwelling, which is currently used for grazing has further development potential or "hope value"

for additional residential dwellings to be obtained on the land (subject to gaining the necessary planning approvals from Broadland District Council).

Furthermore there is also scope to extend the existing residential bungalow known as "The Paddocks". There is opportunity to significantly increase the footprint of the existing bungalow dwelling into this area should future purchasers not require the use of the landscaped front garden (subject to gaining the necessary planning approvals from Broadland District Council).

Commercial The existing Business Park already has an established use for commercial premises from this site with access directly to the business park from a concrete driveway which leads past the bungalow and bungalow annexe. Therefore, there is also hope value for further commercial premises to be built on the site either to the south or east of the existing Business Park (subject to gaining the necessary planning approvals from Broadland District Council).

Summary The site offers a wide and extensive variety of commercial and residential opportunities for purchasers the opportunity to increase the development on the existing site subject to gaining the necessary planning approvals from the Local Planning Authority. We would urge any prospective purchasers to engage with the Local Planning Authority directly to ascertain the future uses on the site. The contact details of the LPA are listed below.

Local Planning Authority

Broadland District Council

Thorpe Lodge

1 Yarmouth Road

Norwich

Norfolk

NR7 0DU

Tel: 01603 431133

Email: planning@broadland.gov.uk

Agent Contact Details:-

RESIDENTIAL ENQUIRIES - PROPERTY LADDER James Brooks - Property Ladder (Director)

Tel: 01603 666 006

Email: sales@propertyladderonline.co.uk

LAND AND DEVELOPMENT ENQUIRIES Tom Mayes - Mayes & Co Limited (Director)

Tel: 01603 931178

Email: enquiries@mayesandco.co.uk

Solicitor Contact Details:- Rob Sibley - Leathes Prior (Partner)

Tel: 01603 281104

Mail: rsibley@leathesprior.co.uk

TO INCLUDE:-

1. Site Photos

2. Site Plan

3. Floor Plan

COUNCIL TAX Band D

Key Features

  • SUBSTANTIAL THREE BEDROOM BUNGALOW
  • SEPARATE RESIDENTIAL SELF CONTAINED ANNEX
  • COMMERCIAL PARK CONSISTING OF 15 INCOME PRODUCING UNITS WITH A CURRENT RENT ROLL OF CIRACE £61,000 P
  • SITTING WITHIN 4.1 ACRES OF PADDOCKS
  • FURTHER POTENTIAL OPPORTUNITIES FOR BOTH COMMERCIAL AND RESIDENTIAL DEVELOPMENT (STPP)
  • LOCATED ON THE WESTERN EDGE OF THE VILLAGE OF HORSTEAD