Brooklands Approach, Romford RM1 1DX
Offers in the region of £7,000,000
The subject property comprises a collection of 2-storey light-industrial buildings and associated land which occupy a site area of circa 1 acre.
The existing buildings on site are situated within two blocks which both benefit from a Right of Way over a private road providing vehicular access from North Street. The freehold land to be sold is edged red on the OS plan, whilst the access road (not included within the sale but providing access rights) is edged blue.
There are several businesses operating from the property, however it will be sold with full vacant possession.
The site is bounded by commercial buildings to the north, west and south with gardens of residential properties to the east (fronting North Street).
Brooklands Approach is located off North Street, which is one of Romford’s main thoroughfares linking the town centre with Eastern Avenue (A12). The Local Authority is the London Borough of Havering.
The immediate location comprises a mix of light-industrial and residential uses, with numerous retail offerings (including two shopping centres) available within Romford town centre which is located approximately 0.5 miles to the south of the site along North Street.
Romford Station is located circa 0.8 miles to the south of site which currently provides TFL Rail and Greater Anglia services directly into Central London, including Liverpool Street in circa 17 minutes. The station will operate Crossrail / Elizabeth Line services in due course.
Planning permission was granted on 22nd February 2019 (reference P.2075.17) for the demolition of the existing buildings and the erection of two new 5-storey buildings (both with basements) to provide 67 residential apartments with associated landscaping, amenity space and parking.
The proposed scheme comprises 25 x 1 bedroom, 28 x 2 bedroom and 14 x 3 bedroom units totalling 48,970 sq.ft NSA, all benefiting from private amenity space. 34 apartments are situated within the southern block with 33 units in the northern block. Both buildings will have lift access to all floors.
The development will benefit from 67 parking spaces. 38 of these are located within two semi-basement car parks (one under each block) with 29 at surface level.
All units are for private sale with no affordable housing required. The planning consent is subject to a Section 106 Agreement obligating financial contributions totalling £334,980 and a late stage viability re-assessment. A Mayoral CIL liability of approximately £56,734 is applicable.
The property is held under 5 freehold Titles and will be sold with full vacant possession.
One of the 5 freehold Titles is elected for VAT.
Offers are invited in the region of £7,000,000.
Further information including planning documents are available within our dataroom using the access code ‘Brooklands’.
Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, 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: 06869268.
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- Collection of light industrial buildings and associated land occupying a site area of circa 1 acre
- Planning permission for a 5-storey (plus basement) new build scheme comprising 67 residential apartments (25 x 1 bed, 28 x 2 bed &14 x 3 bed units) totalling 48,970 sq.ft NSA
- All units for private sale with no affordable housing provision required
- Popular location near Romford town centre, approximately 0.8 miles from Romford Station which will operate Crossrail / Elizabeth Line services
- Offers invited in the region of £7,000,000 for the vacant freehold interest
To discuss this opportunity further, please contact Keir Goldstein or Joe Goldsmith on 020 7183 2529