Central House, Parkway, Chelmsford, Essex CM2 0UR. Vacant Office Building with Prior Approval For Sale
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- Frederick Hopkins
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1 Vacant Office Building with Prior Approval For Sale
2 HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS SUMMARY Vacant 4-storey B1(a) office building extending to approximately 18,011ft 2 GIA Prior Approval application submitted for conversion to 36 apartments (9 x studios & 27 x 1 bed units) totalling 14,382ft 2 NSA Located in Chelmsford city centre approximately 0.5 miles from Chelmsford Station (trains to Liverpool Street in circa 35 mins) Offers invited in excess of 3,500,000 for the freehold interest, which reflects a low capital value of 194 per ft 2 on existing GIA
3 DESCRIPTION & LOCATION HOME SUMMARY DEVELOPMENT TERMS DESCRIPTION Central House is a self contained, 4-storey B1(a) office building extending to approximately 18,011ft 2 GIA. The building occupies a site area of circa 0.23 acres which incorporates 11 surface level car parking spaces. The existing building is of concrete framed construction under a flat roof and is arranged over ground and 3 upper floors. The site is bounded by a mix of retail, office and residential apartment blocks. LOCATION Central House is located in the popular city of Chelmsford, the County town of Essex. The surrounding area comprises a mix of residential and commercial uses, including a wide range of restaurants, shops and amenities. Chelmsford city centre has recently undergone part of a regeneration programme, with numerous new residential developments built within close proximity to the site. The nearest station is Chelmsford which is located approximately 0.5 miles (circa 10 minute walk) from the property, providing National Rail services into Central London, including London Liverpool Street in approximately 35 minutes.
4 HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL A Prior Approval application has been submitted, proposing conversion of the entire building to provide 36 apartments (9 x studios and 1 x 27 bedroom units) totalling 14,382ft 2 NSA via Permitted Development Rights. There may be potential to construct at least one extra storey in order to create additional residential units, subject to planning permission. Typical floor plan Unit Floor Description NIA m 2 NIA ft 2 1 First Studio Apartment First 1 Bedroom Apartment First 1 Bedroom Apartment First Studio Apartment First 1 Bedroom Apartment First 1 Bedroom Apartment First 1 Bedroom Apartment First 1 Bedroom Apartment First 1 Bedroom Apartment First 1 Bedroom Apartment First 1 Bedroom Apartment First Studio Apartment Second Studio Apartment Second 1 Bedroom Apartment Second 1 Bedroom Apartment Second Studio Apartment Second 1 Bedroom Apartment Second 1 Bedroom Apartment Second 1 Bedroom Apartment Second 1 Bedroom Apartment Second 1 Bedroom Apartment Second 1 Bedroom Apartment Second 1 Bedroom Apartment Second Studio Apartment Third Studio Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third Studio Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third Studio Apartment Total 1,341 14,382
5 HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS TENURE The property is to be sold freehold, subject to vacant possession. VAT The property is elected for VAT. TERMS Offers are invited in excess of 3,500,000 and proposals subject to the Prior Approval application being granted will be considered. A purchase at this level reflects a low capital value of 194 per ft 2 on existing GIA. ADDITIONAL INFORMATION Further information including planning and legal documents are available within our dataroom using the access code Central. CONTACT To discuss any aspect of this property or the disposal process, please contact the sole selling agents: Paul Heale paul.heale@kingsbury-consultants.co.uk Joe Goldsmith joe.goldsmith@kingsbury-consultants.co.uk 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:
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