Harlow Redevelopment Opportunity Sold
Following our sale last year of Terminus House in Harlow town centre, which is currently under development for circa 240 new homes, we were asked by the owners of nearby Market House to assist with a strategy for obtaining permitted development rights and managing the sale of the building.
This prominent 4-storey 1960’s mixed use development comprises retail units and garages let to various tenants producing £107,400 per annum, with the upper parts comprising of office / D1 space producing an income of £32,563 per annum from 3 short term tenancies.
Following a successful application to convert the 2nd and 3rd floors to 26 residential units under Permitted Development Rights and detailed planning permission for a further 20 apartments via conversion of the 1st floor and a single storey extension to create a new 4th, the property was openly marketed.
A number of offers were received and a sale successfully completed to a private investor in February, and building works are expected to be completed in later this year to provide 46 new homes.
If you own an office premises which could benefit from PDR anywhere in England, please contact a member of our team on 020 7183 2529 for initial advice.
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- Sold for £3,175,000
- Market House Market Place Harlow Essex CM20 1BL
- Permitted Development
- Prominent office building extending to approximately 19,730 sq.ft. NIA
- Permitted Development for 46 apartments
- Retail investment producing £107,400 per annum
Kingsburys track record with these types of office buildings speaks for itself, and this experience was apparent when advising us on the most beneficial route to take to achieve a sale