Off Cold Harbour Lane, Grantham, Lincolnshire, NG31 7TP
A rare opportunity to acquire a block of pasture land measuring 6.87 acres on the outskirts of Grantham. The land is suitable for a variety of uses and is ideally sized for grazing livestock, paddock conversion or for amenity or recreational use. The site is surrounded by dense residential housing and may accordingly be considered to benefit from some considerable ‘hope-value’ for future development. With rising land values, this land could offer buyers a potentially strong long-term capital investment.
The land’s future development potential is partly due to a considerable lack of housing in the district and more significantly a shortfall of affordable homes. Grantham accounts for 44% of this shortfall - the largest deficit in the district. This shortfall has led to Grantham being identified as having significant potential for growth and new housing developments. With a considerable lack of housing, expansion of this scale cannot occur without the development of Greenfield sites.
The land is strategically located on the eastern edge of Grantham; a modern town that is highly populated and which serves as a central hub to many of the surrounding towns and villages. These, together with the larger cities of Nottingham and Peterborough, can be easily reached by a superb network of transport links, with Grantham perfectly located on the A1 trunk road that connects the site with London.
Access to the land is off Cold Harbour Lane via an established track which also serves Beacon Cottage. The land benefits from full vehicular right of way via an easement (shown blue on the site plan).
The land is offered for sale by private treaty as a whole or in lots. The freehold is available with vacant possession upon completion.
The land is subject to an Overage Provision of 25% for a period of 19 years for any increase in value accruing to the land because of planning permission.
The land is designated as Open Countryside and any development would be subject to the appropriate planning permission.
Land supply remains at a record low, but growing demand sees land values edge higher
The average price of land increased by 3% last year. The amount of land coming onto the market remains at an all-time low. This record low level of supply continues to underpin the growing demand for land, a trend which is expected to continue in 2021.
Lifestyle and amenity land has been particularly sought after as Covid-19 increased the desire for more green space.
Demand from private investors and lifestyle buyers has grown and together they have accounted for 40% of land purchases in the last three years. There has also been an increased number of overseas buyers as the pound remains relatively weak.
With bank interest rates remaining low, land continues to be seen as a safe, long-term investment – particularly during times of economic uncertainty.
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The land is available freehold as a whole or in lots. The site plan is indicative and Vantage Land may be able to amend the plan to offer you the acreage you require. Please call 01582 788870 if you have an alternative budget or size requirement.
Off Cold Harbour Lane, Grantham, Lincolnshire, NG31 7TP
Fordham Research, experts in the assessment of housing need and viability, were commissioned to carry out a Housing Needs Assessment for South Kesteven district. The study was designed to assess the future requirements for both affordable and market housing.
Overall, the study summarizes that the need for additional affordable housing is significantly greater than the level of estimated new dwellings in the District.
There is currently a shortfall of 646 units per annum, most notably in Grantham.
Due to an increasing population there will undoubtedly be pressure on the local housing market and an increasing demand for affordable housing, suggesting that this shortage will continue in the future.
The backlog of existing need suggests a requirement for 1,226 units per annum. The total estimated supply to meet this need is less than 50% at 580 units per year - leaving a shortfall of 646 units per year.
The sub-area with the largest shortfall of affordable housing is Grantham, with a need of 436 units per annum (of the total 1,226) - the largest of any area.
Of these 436 units, only estimated supplies of 152 units are expected to meet this need, leaving a shortfall of 284 units per annum in Grantham.
Grantham accounts for 44% of the overall shortfall of affordable housing in the district.
The East Midlands Regional Plan housing requirement for South Kesteven is 16,800 dwellings during the period of 2001-2026.
The Regional Plan concentrates development in Grantham and identifies the town as one of two main areas in the region for new housing developments.
Grantham in particular has significant potential for growth, assisted by the town’s recognition as a New Growth Point.
In 2007 Grantham was awarded Growth Point Status and £7 million from Department of Communities and Local Government. Grantham’s application set out a clear strategy for the town’s growth and development over the next 10 years and beyond.
To do this Grantham must provide a wide range of housing, including affordable housing, and improve the attractiveness of the town centre as a retail destination and a place where people can relax and enjoy their leisure time. Successful delivery of the town’s growth agenda will also ensure that it will become a successful business destination.
The priority for development remains the re-use of vacant or derelict sites and buildings in accordance with current national planning guidance.
However, these sites alone do not have sufficient capacity to accommodate all of the new housing or employment growth that has been identified for Grantham in the period to 2026; hence expansion of this scale cannot occur without the development of Greenfield sites.
South Kesteven District Councilplans to build 10,000 houses, much on Greenbelt land, increasing the town’s population from 38,000 to over 60,000. Doubling the population will require doubling the number of schools, shops and other services.
The developments planned on Greenbelt land are at Poplars Farm and on land between Spittlegate Levels and Somerby Hill.
Poplar Farm is a Greenfield site. A planning application for 1,800 dwellings, a local centre, school and link road has been submitted to the District Council. It is a prominent, sloping site, which is not classified as the “best and most versatile” agricultural land. Policy states that “little significance” should be attached to the loss of poorer quality land.
Land between Spittlegate Levels and Somerby Hill is a mix of Brownfield and Greenfield land: the Greenfield part of the site forms the majority.
The overall development is likely to provide up to 4,000 new homes alongside new local shops, schools, open space and community facilities. A new relief road will be provided as part of the development.
Grantham’s town centre is prime for regeneration and has great potential to grow and develop.
South Kesteven District Council
Grantham is a market town within the South Kesteven district of Lincolnshire that lies to the south of Lincoln and east of Nottingham. The town has a substantial infrastructure and commuter element to support its large and expanding population. It is home to a wide range of local amenities that are easily accessible from the site including numerous shops, a post office, grammar schools and colleges as well as the Grantham & District Hospital.
The district of South Kesteven is the second largest in Lincolnshire. The A1 passes through it as does the East Coast Main Line. Both of these contribute to house prices in the area, which are the highest in the county. This has led to the district as a whole having one of the fastest-growing housing markets in the whole country.
Good transport links to Newark, Nottingham, Peterborough and even more increasingly London, attract people to live in Grantham yet work in a larger city. The town’s grammar schools also attract pupils from nearby towns and villages.
The city of Nottingham can be quickly and easily reached by road or rail and is the seventh largest urban area in the UK; home to the headquarters of many large and well known companies. Nottingham is progressively changing from an industrial city to one based largely in the service sector. It has one of the highest GDP per capita in the country and in 2007 was fifth in the retail shopping league of England. There are two main shopping centres in Nottingham and numerous smaller shopping areas in development. These new developments will increase the shopping sales area by 28%. Tourism is becoming an increasingly significant part of the area’s economy with many visitors attracted by its nightlife, shops and history. This has led to Nottingham being touted by DK Travel as one of the Top 10 cities in the world to visit.
Nearby Peterborough has expanded greatly to help house London’s overspill. It continues to see significant growth and a £1 billion redevelopment of the city centre and surrounding areas is underway. The city is currently experiencing an economic boom compared to the rest of the UK, believed in part to be due to this regeneration plan.
Grantham is surrounded by superb transport links. The nearby A52 connects the site with Nottingham, whilst the A607 leads to Leicester. The A1 links the site with London and Edinburgh and several towns and cities in-between.
Grantham train station is just a short walk from the site and offers direct trains to many nearby towns and to London in just over an hour.
* Journey Times: 12 mins to Newark; 19 mins to Peterborough; 25 mins to Sleaford; 31 mins to Doncaster; 37 mins to Nottingham; 1 hr 9 mins to Leeds; 1 hr 9 mins to London Kings Cross
Lincolnshire is known for its rich Equestrian heritage which still remains one of the best destinations in the country for equestrian activities thanks to the gentle terrain, the extensive network of bridleways and the many traffic free country lanes.
Grantham is centrally located in Lincolnshire, surrounded my many rural towns and villages providing ample space for equestrian activities. The local area is home to many equestrian centres, riding schools and livery yards each unique in providing excellent facilities and services for the horses and riders, the majority of which surround the town of Grantham.
The nearest equestrian centres to the land for sale are situated in Caythorpe and Hough-on-the-Hill both accessible within a short distance. They boast locations within the picturesque countryside and provide facilities to meet the needs of any horse enthusiast, along with the focus of providing a variety of riding opportunities for novice riders.
The Paddocks Riding Centre in Hough-on-the-Hill is a small yard, helping riders develop at a pace that suits their individual needs.
A larger range of facilities are available at Elms Farm Equestrian Centre in Caythorpe include stables, a 70m x 50m competition arena, warm-up arena, a large outdoor arena and an additional indoor arena which all host numerous competitions throughout the year.
Arena UK situated in Allington, to the north-west of Grantham, is home to a large showground that hosts regular prestigious championships each year, including show jumping and dressage events. This can be reached within 4.2 miles from the land and provides all the facilities that a horse lover would require.
To accompany these excellent local facilities, Lincolnshire and the area around Grantham are home to a number of extensive bridleways, the longest of which is over 100 miles. The closest bridleway to the land is situated just outside Barkston, which offers beautiful scenery along the River Witham.
To arrange a site visit or to buy the land for sale in Grantham; please call 01582 788870 or email email@example.com.
The Property Misdescriptions Act 1991
Vantage Land Limited has produced these particulars in good faith but cannot guarantee total accuracy. Sizes and distances are approximate. Purchasers should verify any detail of importance prior to viewing and purchase. The particulars are not an offer or contract. Comments made in general advertising may not apply to this particular property and of course planning permission cannot be guaranteed.