Leigh Street, High Wycombe HP11 2QT
Offers in excess of £9,500,000
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.
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.
Planning & Development Potential
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 130,233 sq.ft. 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 1,054 sq.ft. NIA located within the Entrance Building and provide 175 parking spaces.
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 £986,034.96 and a CIL liability of approximately £1,519,000.
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.
A full tenancy schedule is available within the dataroom.
The property is to be sold freehold and subject to vacant possession.
The property is not elected for VAT.
Offers are invited in excess of £9,500,000.
Further information including planning documents, the legal pack and indicative resale advice available in the dataroom using access code ‘Leigh’.
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 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 130,233 sq.ft. NIA plus B1 space of 1,054 sq.ft. 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
To discuss this opportunity further, please contact Keir Goldstein or Paul Heale on 020 7183 2529