Essex CO4 5

Property Details: • Type: Land • Tenure: FREEHOLD • Floor Area: N/A

Key Features: • Development opportunity • Sought after location • Bespoke properties • Chance to build your forever home • Stamp duty savings • Unique Development

Location: • Nearest Station: Colchester Station • Distance to Station: 10.896923901578576 miles

Agent Information: • Address: 41 High Street, Ascot, SL5 7HG

Full Description: The Plot – Bakers Lane - Guide Price £500,000 - £550,000<br /><br />The self-build opportunity at Bakers Lane presents a rare chance to design and oversee the construction of your dream home from the ground up. Situated within an exclusive development comprising just one additional dwelling, the plot enjoys a private and highly desirable setting.<br /><br />The purchaser has the option to acquire the existing company as part of the overall package. Terms and conditions apply.<br /><br />The approved plans include permission for a detached single garage and a well-considered first-floor layout featuring four generously sized double bedrooms, offering the ideal foundation for a bespoke family residence in an exceptional location.<br /><br />**Planning Application Number:** 260014<br /><br />Important Information for Self-Build Purchasers and Developers<br /><br />Where the plot is purchased by an individual self-builder, the intention is for the buyer to construct their own home in accordance with the principles outlined in the Self-build and Custom Housebuilding Act 2015.<br /><br />If acquired by a developer, the Act does not place direct obligations on the purchaser regarding delivery of self-build housing. Responsibility under the legislation rests with the local planning authority, which must consider demand for self-build and custom-build housing when assessing housing supply.<br /><br />Any formal requirement for self-build provision would only apply if specifically secured through planning conditions or a Section 106 Agreement linked to the planning consent. This principle applies equally to smaller developments, including schemes consisting of only two dwellings. In the absence of such restrictions, there is no limitation on how the land may be acquired or developed following the grant of planning permission.<br /><br />Stamp Duty Advantages-<br /><br />Purchasing a self-build plot can offer significant financial benefits when compared with buying a completed home of similar value. One of the key advantages relates to Stamp Duty Land Tax (SDLT).<br /><br />With a conventional property purchase, SDLT is calculated against the full market value of the completed property. In contrast, with a self-build or custom-build project, SDLT is payable only on the purchase price of the land itself rather than the value of the completed home, potentially resulting in substantial savings.