Cleeve Road, Leatherhead KT22 7SD
Offers in the region of £5,000,000
Cleeve Court comprises a modern office building (B1(a) Use Class) which extends to approximately 20,588 sq.ft. NIA across ground and two upper floors.
The building occupies a site area of circa 0.87 acres which includes surface car parking for 81 vehicles. Access to the site is taken directly via Cleeve Road.
The existing building benefits from an entrance lobby and two separate fire exits located to the rear of the property, along with WC facilities and open plan office space on each floor.
Cleeve Court is prominently located on Cleeve Road in Leatherhead, an affluent commuter town in Surrey approximately 15 miles south-east of Central London.
The immediate surrounding area comprises mainly residential uses (detached / semidetached houses and purpose-built apartment blocks) with several commercial buildings also in close proximity.
The property is situated just to the north of the of the town centre which offers numerous shops, restaurants and other commercial amenities.
Leatherhead Station is situated approximately 0.4 miles (circa 7 minute walk) from the property, providing direct links to London Waterloo in 46 minutes.
Development Potential – PDR Consent
Prior Approval was granted on 6th July 2017, under reference MO/2017/0862/PNO, for change of use and conversion of the building to provide 45 x one bedroom apartments via Permitted Development Rights.
The proposed scheme will create 19,102 sq.ft. NIA of residential floor space whilst retaining the 81 car parking spaces at surface level.
The 3-storey office building directly opposite Cleeve Court (known as Stokes House) has Prior Approval for conversion to 73 apartments.
Development Potential – Pending Detailed Planning Application
A detailed planning application was submitted in June 2018 which proposes reconfiguration of the 45 apartments along with a side and roof extension to provide a further 10 apartments.
The proposed scheme will create 35,505 sq.ft. NIA of residential floor space across 19 x one bedroom and 36 x two bedroom apartments.
It is expected that no affordable housing provision will be required and all proposed units will be for private sale.
The property will be sold freehold and subject to vacant possession on completion.
The property is elected for VAT.
Offers are invited in the region of £5,000,000. A purchase at this level reflects a capital value of £243 per sq.ft. based on the current NIA.
Further information including planning and legal documents are available within our dataroom using the access code ‘Cleeve’.
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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- 3-storey B1(a) office building extending to approximately 20,588 sq.ft. NIA with 81 parking spaces
- Prior Approval for conversion to create 45 x one bedroom apartments totalling 19,102 sq.ft. NIA under Permitted Development Rights
- Detailed planning application pending to reconfigure the 45 units and extend the building to provide 10 additional units (55 in total)
- Sought-after residential location approximately 0.4 miles from Leatherhead Station
- Offers invited in the region of £5,000,000 for the freehold interest, reflecting £243 per sq.ft. on the NIA
To discuss this opportunity further, please contact Keir Goldstein or Joe Goldsmith on 020 7183 2529