A PIECE of land for sale in Petersfield may be bought as a long term investment with the buyer hoping to build on it one day, say the agents selling it.
The 11.3 acre field, known locally as ‘the water meadows,’ is behind Tesco, and between Borough Road and Grange Road.
It is owned by Tesco and described as local green space and as being outside the settlement boundary (of Petersfield) by estate agent Cradick Retail of Brighton, who is offering it for sale.
Agent handling the sale Andy Morrish said: “The land can’t be built on at the moment, but someone taking a long term strategic view may well buy it in the hopes that at some point in the future that changes.
“But it’s not likely that planning permission will be granted for it in the immediate future.”
There is no fixed price for the land, which has vehicle access from the Tesco car park, and offers will be considered on a conditional, or unconditional, freehold basis.
Unconditional purchase means a buyer buys it outright.
But the conditional purchase of land can mean that instead of buying it, a buyer pays an annual fee with a view to buying it outright on the condition the land gets planning permission.
But under Policy 13 of the local plan, as agreed by East Hampshire District Council, the Petersfield Neighbourhood Plan and the South Downs National Park Authority, it is unlikely anyone would be allowed to build on the land; it is to be preserved and enhanced for public access and informal recreational use.
Cradicks are also offering a much smaller piece of Tesco land for sale, but this piece has planning permission.
It runs along the left hand side of the road into the store’s car park and around the left of the store, and planners previously gave permission for the store to extend onto it.
Mr Morrish said: “There is extant planning permission for that land, so it could be built on.”
Once again, Mr Morrish wouldn’t give a price guide for the land.
For details visit the Cradick website www.cradick.co.uk