Land at Lyngford Lane, Priorswood

Taunton, Somerset TA2 7LJ

Overview

Opportunity Summary

  • Prime development site with planning consent for 45 predominantly new build assisted living dwellings comprising c.58,000 sq ft saleable area.
  • Extensive site area spanning approximately 4 acres (1.6 hectares), benefiting from a prominent location near junction 25 of the M5.
  • Good underlying demographics with an older and more affluent catchment than typical.
  • Details of full planning application and consent available upon request.
  • Freehold interest with Vacant Possession available immediately.
  • Highly sustainable development with a wide range of social, economic and environmental benefits as well as provision for much needed care accommodation.
  • Characteristic Grade II listed elements.
We are instructed to seek offers in excess of £3,000,000 (Three Million Pounds), subject to contract and exclusive of VAT. STP offers are also invited.

Location

Taunton, the county town of Somerset, is a large cultural and historic town located in the south west of England. The town has over 1,000 years of military and religious history benefiting from historic architecture and untouched views across the Blackdown and Quantock Hills.

Exeter lies approximately 36 miles to the south west of the town with Bristol (48 miles) and Bath (70 miles) to the north east. The uniquely landscaped Exmoor National Park is located approximately 16 miles to the north west.

The town is extremely well connected with the M5 (Junction 25) approximately 3 miles away, which provides direct access to Bristol, Birmingham and other major road links such as the M4 to access London, as well as other link roads including the A38 and A358.

Taunton railway station, which is 1 mile from the subject site, is served by Great Western Railway and CrossCountry with services to London Paddington (in under 2 hours), Manchester Piccadilly, Birmingham New St, Exeter St Davids, Bristol Temple Meads and Cardiff Central.

Exeter International Airport is located approximately 35 miles to the south west and Bristol International Airport, which served over 8.5 million passengers in 2018, is approximately 36 miles to the north east from the property.

Situation

The site is positioned on the northern outskirts of Taunton in the residential area of Priorswood, a quaint and picturesque suburb located on the outskirts of Taunton.

The site is accessible by Selworthy Road and a secondary rear access off Lyngford Lane, both of which link on to Eastwick Road and then the A358 and A3259 to the south.

The property itself is within walking distance to Priorswood Post Office, Co-op Food, Priorswood Library, Lyngford Park Medical Surgery, Lyngford Park and Wellsprings Leisure Centre. Surrounding properties are predominantly detached residential dwellings.

Description

Existing Site

The site currently consists of a number of buildings, some of which were registered as Grade II listed in 1985 with others added in the 1990s.

Listed buildings consist of Lyngford House, the Coach House and Stable as well as the associated cobbled yard. Recent buildings constructed in the 1980s include a purpose built 18 bedroom accommodation block and a detached conference building.

Listed Assets

  • Lyngford House was listed on 17th May 1985 (List Entry Number: 1176061) being constructed c.1830s. The characteristic red sandstone brick building was recently used as a conference centre.
  • The Stables and Coach house were also listed on 17th May 1985 (List Entry Number: 1060515) being constructed c.1840. These buildings comprise a squared and coursed sandstone exterior being L shaped in plan.
For the majority of the 20th century, the site was used as an NHS training facility, until its closure in 2014.

A new entrance to the site as well as a feature driveway were created on Selworthy Road with the original entrance from Lyngford Lane being used as a secondary entrance. The site currently benefits from a 75 space car park.

Site

The site extends to a total area of approximately 4 acres (1.6 hectares).

Planning & Development Potential

Conditional planning consent was granted on 03/07/2019 (planning reference: 38/18/0108) for the re-development of the Lyngford House site into 45 (C2 use class) assisted living extra care dwellings to comprise of:
  • 33 new build houses
  • 6 new build apartments
  • Conversion and refurbishment of Lyngford House into 3 apartments and communal facilities
  • Conversion and refurbishment of associated listed cottages (Coach House and Stables) into 3 houses, all with associated landscaping, alteration, refurbishment and demolition works
Included in the planning application is the:
  • demolition of the conference centre and apartment block
  • closure of the Lyngford Lane site entrance
  • changes for pedestrians and cyclists routes
  • relocation of the main entrance to Selworthy Road to allow for a new key view and approach to Lyngford House
When producing this scheme a detailed analysis was commissioned by experienced professionals and consultants who have provided guidance through the design process to ensure a high quality development is achieved.

Each dwelling provides a level of independence whilst allowing residents access to care within a safe and secure community, being designed in line with Lifetime Homes and HAPPI 3 principles.

Further details on the planning consent are available upon request.

Lyngford House

Further details can be found in the marketing particulars.

The Coach House and Stables

Further details can be found in the marketing particulars.

Market Overview

Further details can be found in the marketing particulars.

Tenure

Freehold.

Proposal

We are instructed to seek offers in excess of £3,000,000 (Three Million Pounds), subject to contract and exclusive of VAT. Subject to planning offers are also invited.

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NET INITIAL YIELD:
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PRICE:
£3,000,000
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