Prime Waterside Residential Development Opportunity (STP) – Approximately 3.7 Acres / 1.5 HA – Allocated For Residential Development

The site extends to approximately 1.5 ha. (3.7 acres). It is bounded by the 240 acre Etherow Country Park to the east, the River Etherow to the south, adjacent to George Street to the north and Andrew Street to the west. Immediately opposite the site, a new residential development is nearing completion on Andrew Street. The site is brownfield and contains an L-shaped group of mill buildings dating from the early 1820s and 2 associated car parking and hard standing areas. Planning History The site has previously received planning consent DC/042235 for a mixed-use scheme in May 2013 (see link above). Consent was granted for the following: Partial demolition, refurbishment and redevelopment of the Compstall Mills Estate to provide a mixed use development comprising of 121 residential units, commercial units, a replacement boat house and a hydro-electric power generator, together with associated vehicular and pedestrian access, car parking and landscaping works. The applicant, Ask Property Developments Limited, never implemented the permission. This scheme sought to retain and convert Victoria Mill and to retain and extend Albert Mill. Various other buildings across the site were also to be retained such as the Gatehouse. The Ask Scheme briefly comprised Houses (new build) 40,599 sqft Apartments (new build) 36,694 sqft Offices (new build) 16,668 sqft Total newbuild 93,981 sqft Residential (refurbished) 56,921 sqft Offices (refurbished) 6,707 sqft Retail (refurbished) 3,068 sqft Total refurbished 66,696 sqft Other café/bar 569 sqft Total 161,246 sqft

Tenure

Freehold

The whole of the site is brownfield land in the Green Belt. Whilst the emerging draft Local Plan allocates the site for housing, the site will remain in the Green Belt. Given the significant overall volume of existing buildings on the site, it is likely that the scale and spatial development of new built form on the site will be deemed to be “not inappropriate development” in the Green Belt. The emerging draft Local Plan allocates the site for housing with a minimum of 128 units under Policy HOM 2, (further information in legal pack). The site is within a Conservation Area. Whilst the buildings on site are not listed, they are deemed by the Council as important features in the Conservation Area and are locally listed. The Council will support a scheme which retains one or both large mills (Victoria and Albert Mills) with new development on the remainder of the site. The Sellers Planning Consultant has commented as follows… “We would consider that in light of the historical planning position, the site’s allocation for a minimum of 128 residential units in the emerging Local Plan and the pressing need for housing in the Stockport borough, that residential planning permission is likely to be forthcoming at Compstall Mill for a comprehensive residential redevelopment. The level of any affordable housing is likely to be reduced by the vacant building credit. Further information is available in the legal pack. Tenure: freehold Title number: GM775703 Ground Rent: Service Charge: Council Tax Band : Local Authority: Stockport Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip

IMPORTANT INFORMATION

Buying at auction is a contractual commitment, you are legally obliged to buy the lot on the terms of the sale memorandum at the price you bid. If you are the successful bidder, you are required to pay the deposit and auction fees immediately. As agent for the seller, we treat any failure to satisfy your obligations as your repudiation of the contract and the seller may then have a claim against you for breach of contract. You must not bid unless you wish to be bound by the common conditions of auction.

ANTI-MONEY LAUNDERING REGULATIONS

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects. Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.

Local Authority

Stockport Metropolitan Borough Council

Solicitors

Kuits Solicitors, Ref: Kuits Solicitors

Additional Fees

Administration Charge - 1.98% inc VAT of the purchase price, subject to a minimum of £1980 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.