Arbor Lane is one of the premier roads in Winnersh and has been a sought after location for house buyers within the area for many years. There are an array of different properties and developments located on the road, creating a unique contrast of character and new homes. From thatched cottages to a 2016 Bellway development to various million pound residences, one thing is certain, Arbor Lane will always hold its own in terms of value and being an aspirational place to live.
This detached property offers a unique opportunity to redevelop and create a spectacular 2400 sq.ft family home. Full planning permission has been granted to significantly extend and enhance the overall size and stature. Full plans can be found on the Wokingham Borough Council Planning website using Planning Application Number: 19315.
The new creation will transform the current look of the home, with a modern contemporary design, numerous features such as gable ended, floor to ceiling windows and a grand entrance hall with an double height ceiling. Under the new plans this sizeable family home will boast five bedrooms, four bathrooms and three living rooms, with a 35ft kitchen/dining/family area occupying the entire rear of the property.
Please note, the floorplan is based on the proposed plans. For further information please refer to the Winnersh Branch.
We have been advised by the current owners that there will be no CIL (Community Infrastructure Levy) payment applicable for this development. Current CIL payments are calculated at £365 per sq.m on new construction. This will equate to a saving of circa £33,000 in relation to the extended area and circa £82,000 saving in the relation to the entire build. These savings have been calculated versus a ground up construction.
The property is owned in a company structure, which offers a unique opportunity to acquire the property with a reduced rate of SDLT (Stamp Duty Land Tax). The option available is to structure the purchase as a share acquisition by acquiring the single purpose vehicle / company solely owning this property, which will result in a stamp duty saving of up to £38,750 for a buyer. The figure has been calculated on the assumption that the purchase of Arbor Lane is an additional property, therefore liable for the extra surcharge on SDLT (applicable to second homes and investments).
Please note: All of the above information is used as a guide and any prospective purchaser should complete the own due diligence and seek professional and legal advice where applicable.
One of the most common mistakes made by buyers is not speaking to a Mortgage Advisor before starting their search. Rates change all of the time and banks only look at the mortgage rates they personally offer. You never know, by speaking to an advisor, you might be able to afford a larger home on smaller repayments!
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When buying a home, it’s a good idea to have an additional survey carried out before progressing too far with the purchase. This protects you from any hidden surprises later down the line! Mortgage Surveys do not check the condition of the property so may not highlight things you should be aware of.