Development Site Sold Totton, Hampshire
Primmer Olds B.A.S were delighted to act on behalf of Testwood Working Men’s Club on the disposal of 110 Salisbury Rd, Totton, Southampton SO40 3LQ with joint agent Charles Powell. The club had unfortunately fallen into financial hardship earlier in the year and subsequently instructed Primmer Olds B.A.S to dispose of the site and realise best value for its members. The site was identified as being suitable for residential development however this was hindered when the site was highlighted as an Asset of Community Value (ACV). The ACV status had a significant dampening affect on the sites value and therefore Primmer Olds B.A.S sought third party advice and instructed Richard Sturt of Sturt and Co to challenge the status. Richard successfully challenged the ACV and had the status swiftly lifted enabling Primmer Olds B.A.S to attract in numerous offers from a number local and regional developers. After a number of rounds of bidding a deal was agreed with New Forest District Council on an unconditional basis in excess of the guide price. NFDC plan to demolish the existing building and develop a flatted scheme to provide much need council homes.