Indicative Visualisation. Land at Leigh Street, High Wycombe, Buckinghamshire HP11 2QT Residential-Led Development Opportunity For Sale

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Chrystal Nash
5 years ago
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1 Indicative Visualisation Residential-Led Development Opportunity For Sale

HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS SUMMARY Collection of commercial and residential buildings which occupy a site area of circa 2.

2 HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS SUMMARY Collection of commercial and residential buildings which occupy a site area of circa 2.5 acres Planning permission for redevelopment of the site to provide 228 residential apartments totalling 130,233ft 2 NIA plus B1 space of 1,054ft 2 NIA, involving conversion and extension of one existing building (85 units) and three new build blocks (143 units) All apartments for private sale with no affordable housing requirement Located within close proximity to the shops and amenities of High Wycombe town centre and approximately 1 mile from High Wycombe Station (trains to Marylebone in circa 30 mins) Offers invited in excess of 9,500,000 for the freehold interest

and has since been extended several times.

3 DESCRIPTION & LOCATION HOME SUMMARY DEVELOPMENT TERMS DESCRIPTION The property comprises a freehold site extending to circa 2.5 acres which is occupied by numerous buildings: Birch House is positioned at the north of the site and comprises a 4-storey red brick building, formerly a factory, which was originally built in 1913 and has since been extended several times. Leigh Court is situated at the south of the site (forming a courtyard area between Birch House) and comprises several light industrial buildings of varying age and design. Wheeler s Yard is a 2-storey 1930 s building consisting of a ground floor vehicle workshop with a gym above. The Print Works comprises a single storey 1990 s office building positioned at the west of the site. Llanberis & Malvern are two semi-detached houses located to the west of Birch House. LOCATION The property is located on Leigh Street, a road comprising mainly commercial uses which is located a short distance to the west of High Wycombe town centre. High Wycombe is a large town with a population of circa 125,000, located approximately 29 miles to the west of Central London. The Eden Shopping Centre and Wycombe General Hospital are a short walking distance from the site, as are numerous shops and commercial amenities. High Wycombe Station is located approximately 1 mile to the east of the property, providing direct services to London Marylebone in circa 30 minutes. Junction 4 of the M40 is approximately 1 mile from the property, providing access to Heathrow Airport circa 12 miles to the south-east and Central London approximately 30 miles to the east.

HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL ACCOMMODATION SCHEDULE Planning permission was granted on 18th December 2017 (ref: 17/06702/FUL) for the

4 HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL ACCOMMODATION SCHEDULE Planning permission was granted on 18th December 2017 (ref: 17/06702/FUL) for the conversion and extension of Birch House to provide 85 (62 x 1 bedroom and 23 & 2 bedroom) residential units, and the demolition of all other buildings and the construction of three blocks to provide 143 (95 x 1 bedroom & 48 x 2 bedroom) residential units, along with B1 commercial space and multi-storey car parking. The proposed development will provide a total of 228 residential units extending to 130,233ft 2 NIA, comprising 78 x studio, 79 x 1 bedroom and 71 x 2 bedroom apartments (a number of which are duplexes). The scheme will include a single B1 commercial unit of 1,054ft 2 NIA located within the Entrance Building and provide 175 parking spaces. Description Amount NIA ft 2 NIA m 2 Average NIA ft 2 Commercial B1 Commercial Unit 1 1, ,054 Residential 1 Bedroom 1 Person Apartment 78 34,638 3, Bedroom 2 Person Apartment 79 42,765 3, Bedroom 3 Person Apartment 32 22,034 2, Bedroom 4 Person Apartment 39 30,796 2, Residential Total ,233 12,099 All apartments are for private sale with no requirement for affordable housing. The planning permission is subject to a Section 106 Agreement which provides for financial contributions totalling 986, and a CIL liability of approximately 1,519,000. TENANCIES BIRCH HOUSE CAR PARK The property is currently partly let on a 47 Tenancy at Will Agreements and 5 leases (with determination with 6 months notice). There is also a lease for telecommunications equipment on the roof which can be terminated with 6 months notice. ENTRANCE BUILDING LEIGH COURT BLOCK 2 A full tenancy schedule is available within the dataroom. LEIGH COURT BLOCK 1 Proposed Ground Floor

HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS TENURE The property is to be sold freehold and subject to vacant possession. VAT The property is not elected for VAT.

5 HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS TENURE The property is to be sold freehold and subject to vacant possession. VAT The property is not elected for VAT. TERMS Offers are invited in excess of 9,500,000. ADDITIONAL INFORMATION Further information including planning documents, the legal pack and indicative resale advice available in the dataroom using access code Leigh. CONTACT To discuss any aspect of this property or the disposal process, please contact the sole selling agents: Keir Goldstein Paul Heale Kingsbury 1st Floor, 81 Alie Street, London E1 8NH Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: Indicative Visualisation

Residential Development Opportunity For Sale

Indicative Visualisation Residential Development Opportunity For Sale www.kingsbury-consultants.co.uk HOME SUMMARY Vacant 7-storey office building extending to circa 60,937ft2 NIA, occupying a site area