Development / conversion potential (STPP*) for sale in Brentford

This property is marketed by:
Vokins

Description

The properties were all built at the same time as a single development by London & Argyll. The subject properties comprise 3 adjoining units, out of a total of 4 self-contained office buildings (the fourth having been converted into residential flats) and an additional residential building constructed in around 1990. The development is ‘L’ shaped, with units 1,2 and 3 fronting the High Street.

Each of Units 1, 2 and 3, which adjoin one another, but are self-contained have been constructed over ground and two upper floors, together with secure basement car parking underneath each building, and additional car parking within the enclosed and gated estate car park.

The premises are all of brick-built construction under a pitched roof, with the High Street to the front of the properties and the estate car parking area to the rear.

In each building, internal floors are of solid construction. External window frames are constructed of anodized-aluminium coated frames, with double glazed windows. Each of the premises have been fitted to provide a mix of open plan and cellular offices throughout the building.

Terms

The properties are available on the basis of existing 999 year long leaseholds from 21st April 1997.

Shares in the freehold which are vested in a management company are allocated to each unit.

Units 1 & 2 are to be sold with vacant possession and Unit 3 will be subject to the current lease to WSL Limited expiring in April 2026 at a rent of £65,490 pax, held inside the security of tenure provision of the 1954 Landlord & Tenant Act.

Guide price

Guide Price: £4,000,000 (Four Million Pounds).

DEVELOPMENT POTENTIAL

We understand that the property is not in an area designated by the local authority with Article 4 exemption. This means that subject to compliance with statutory requirements, in principal the offices could be converted to residential without the need for full planning permission, under Prior Approval procedures.

Potentially, subject to planning permission, purchasers might anticipate the possibility of an additional floor being created on top of the existing structure.

The adjoining Unit 4 (which does not form part of this sale) has already been converted from offices to residential apartments.

The current owner has undertaken exploratory preliminary work in connection to conversion – further details available from the agents.