Harthill Portfolio, Paxtane Farm, ML7 5QG
A residential portfolio of 31x completed units in Harthill, recently developed by Springfield Partnerships for RSL use. Opportunity for a prospective purchaser to acquire the freehold at a discount to open market value (OMV), then break up and sell individually at or above OMV. Alternatively, a straightforward turnkey investment portfolio to buy & hold, in a well-connected town within commutable distance of Edinburgh, Glasgow & Livingston.
Associate Director - Land & Development
Property Details & Description
The portfolio consists of 31x units in total – a mix of 16x flats & 15x houses - each with private drives and/or communal courts which form 60 car parking spaces in total. The 31x units form Phase 1A of a larger site, with planning consent for a total of 100 units.
The properties are constructed with highly insulated timber frame, triple glazed uPVC windows, white dry dash and non-combustible Cedral cladding. Gas boilers are with flue gas heat recovery element & waste water heat recovery. The development comes with full Silver Sustainability status, dmev ventilation system and ‘Silver Secured by Design’ status. They are also compliant with space standards for Housing with Varying Needs.
The units are fully built, have their completion certificates, will include turfed gardens and are ready for occupation. The provision of white goods and carpets can form part of the discussions if required.
Full details on spec, floorplans, photos, etc can be found by downloading the Info Pack.
“Phase 1A” (highlighted in orange) forms the 31x units.
The Portfolio sits at the heart of the central belt and is within easy reach of its major cities & towns. Located directly in between Edinburgh & Glasgow, a c. 2 mile drive from junctions to the M8.
Harthill itself is a small rural village, that sits approx. 2miles from Whitburn, 6miles from Bathgate, and 10 miles from Livingston.
Approx. drive time to:
Blackridge Station 8-10 mins
Livingston 18-23 mins
Glasgow Queen St. 25-35 mins
Edinburgh Park 25-35 mins
Edinburgh Princes St. 40-50 mins
(per Google Maps)
See map below for location
The development has been built out by Springfield Partnerships, with the initial intention of selling to an Registered Social Landlord. The RSL’s have confirmed however that grant funding is not currently available for affordable housing in Harthill with the Council prioritising development elsewhere.
The full planning consent for the site is for the creation of 100 homes, the 31x units built, form Phase 1A of that wider planning consent. Our client has informed us that there is no planning requirement to retain the 31x units as affordable.
17/01586/FUL | Erection of 100 Houses, Formation of Access and Associated Works | Paxtane Farm Edinburgh Road Eastfield Harthill North Lanarkshire ML7 5TF
Note - The additional land with planning consent for a further 69x units is available by separate negotiation.
A PDF version of this accommodation schedule will be provided is available in the Info Pack.
Multiple Dwellings Relief
*Please note* – Rettie & Co. are not tax advisers, so this information is subject to error. Seek expert advice from your solicitor, tax advisor or accountant.
Prospective purchasers may be able to enjoy the benefits of Multiple Dwellings Relief when acquiring the portfolio. When purchasing 6 or more units in Scotland, buyers pay non-residential LBTT (stamp duty) and get relief from the 4% Additional Dwelling Supplement*.
Further information here:
Sales & Rental Pricing
Rettie & Co. have carried out a sales pricing exercise on behalf of the client. This can be made available to interested parties on request, along with supporting data of sales comparables from nearby developments.
Rettie & Co’s. Build-to-Rent / Corporate Management team can also carry out a rental pricing exercise for interested parties.
Conflict of Interest – Please note that as we are acting for the vendor, we must also recommend you seek independent advice on both sales & rental values.
Unit Sales & Property Management
We would welcome the opportunity to discuss with prospective purchasers our role in selling the properties on the open market once you take ownership.
Rettie & Co. have Scotland’s leading new homes & development sales brokerage, that would welcome the opportunity to find purchasers for the individual units.
Alternatively, if you are looking to buy & hold the portfolio, Rettie & Co. manage c. £1bn in assets across Scotland. Our Build-to-Rent team, who manage numerous Build-to-Rent and corporate level portfolios for institutional clients, who be happy to assist.
Rettie & Co. have begun receiving enquiries from locals looking to purchase or let the properties. Once the portfolio is under offer to a purchaser, we can look to begin marketing the properties accordingly, if desired.
For full details on – spec, site plans, floorplans, planning documents etc, please submit your details as you click through the link below.
(Sales & rental pricing will be made available to interested parties only.)
Price & Offers
Price on Application. (Offers Invited.)
For any offers we will require basic Heads of Terms, including proof of funds for cash buyers. Included in the Info Pack will be a document outlining what Heads of Terms we will need.
Rettie & Co., their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either in writing or by word of mouth. Any information given is entirely without responsibility on the part of the agents or the sellers. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive and it should not be assumed that the property remains as photographed. Any error, omission or misstatement shall not annul the sale, or entitle any party to compensation or recourse to action at law. It should not be assumed that the property has all necessary planning, building regulation or other consents, including for its current use. Rettie & Co. have not tested any services, equipment, or facilities. Purchasers must satisfy themselves by inspection or otherwise and ought to seek their own professional advice.
3. All descriptions or references to condition are given in good faith only. Whilst every endeavour is made to ensure accuracy, please check with us on any points of especial importance to you, especially if intending to travel some distance. No responsibility can be accepted for expenses incurred in inspecting properties which have been sold or withdrawn.
In accordance with Section 21 of the Estate Agent Act 1979, we declare that there is a personal interest in these properties. The properties are being sold by a company where 1 of the directors is a member of staff within the Rettie Group.