Meridian Waterside, Meridian Way | Property for sale | Savills
Guide price £7,000,000(3,173,688 OMR)

Meridian WatersideMeridian Way

  • Sole agency
  • Freehold
Development land

Key features

  • Freehold for sale
  • Sold on Behalf of Joint Administrators
  • 103 part built apartments
  • Waterfront location
  • Full Planning Permission (Ref: 17/01238/FUL)
  • The areas shaded blue on the above plan are excluded from the sale

FREEHOLD DEVELOPMENT / INVESTMENT OPPORTUNITY

About this property

  • The sale is the Freehold title HP439219, which includes 103 partially finished private residential apartments in a 9-storey building with one-to one parking, plus the opportunity to convert a ground floor commercial unit into 2 additional 1 bedroom units (subject to planning). The Freehold title comprises the incomplete building plus two completed blocks with 152 completed private apartments that have been sold to third parties on various leasehold terms, along with car parking, open space, landscaped podiums, roads and footpaths. The successful buyer will need to complete the development in accordance with the Planning Permission 17/01238/FUL and the Section 106 Agreement, which include the riverside walk bunding for flood defence and footpath, external landscaping, public art and external car parking. The freehold interest of the three apartment blocks and any associated ground rent income has been presold to Avon Ground Rents Limited for the sum of about £287,000 to complete following completion of the long lease sale of the final apartment to be sold on the estate.

Local information

  • The development is suitably located for ease of access into Southampton’s city centre as well as access to Riverside Park along National Cycle Route 23. Public transport is accessible from the A3024, a short walk from the property and provides transport directly into the city centre and to the eastern suburbs of the city.
  • The nearest train station is St Denys which provides access into Southampton, Winchester and London. The fastest journey time to London Waterloo is circa 1hr and 23 minutes incorporating a change at Southampton Airport Parkway.
  • For daily needs, the closest supermarket is Aldi, located in Bevois Valley, just 0.8 miles away from the subject property. Bevois Valley benefits from a parade of shops, bars and restaurants. The property is also suitably located for residents working at the Royal South Hants Hospital, located just 0.7 miles to the west.

Additional information

  • The Meridian Waterside development amounts to approximately 2.8 ha (6.92 acres) and is located adjacent to the Northam Bridge, a prominent Waterfront location in the city of Southampton.
  • The site is bounded by Summers Street to the south, by Mount Pleasant Industrial Estate to the west, by the River Itchen to the north and the A3024 Northam Road to the east