Farnborough Road, Farnborough GU14
Offers in excess of £10,000,000
The property comprises a B1 office building known as Pinehurst Park which is located off Farnborough Road.
The existing office accommodation is arranged over 4 and 5 storeys, extending to approximately 55,047sq.ft. NIA and occupies a site of circa 2.2 acres. There are approximately 200 surface and under-croft parking spaces attributed to the building.
The former Convent building to the east of the site was converted in 2014 to provide private residential apartments. The Convent building shares the access and servicing from Farnborough Road, but is in separate ownership with its own service area and car parking.
Farnborough is a town (population circa 65,000) in the north-east of Hampshire, located approximately 34 miles to the south-west of London. Nearby towns include Guildford, Reading, Woking and Aldershot.
The surrounding area comprises a mix of office, educational, residential and aerospace uses. Immediately adjacent to the north is the Rushmoor Borough Council office and to the north east is Meudon House.
Farnborough’s main commercial district is situated approximately 0.5 miles from the site, hosting numerous shops, restaurants, supermarkets, a cinema and other amenities. The town is within easy access of Junction 4 of the M3 Motorway, which connects London with the south west of England.
Farnborough Station is located circa 0.9 miles from the property, providing direct trains to London with journey times of circa 34 minutes to London Waterloo Station.
Planning & Development Potential
A planning application prepared by Osel Architecture was approved at appeal on 3rd October 2019 (ref: 18/00466/FULPP) for the erection of extensions and alterations to existing office building to create 113 residential units (7 x studio, 52 x 1 bedroom, 52 x 2 bedroom and 2 x 3 bedroom units), which will provide approximately 74,907sq.ft. (NIA) of residential floorspace.
The apartments will benefit from 199 on-site parking spaces and all residential units will be for open market sale.
We understand that The SANG (Suitable Alternative Natural Greenspace) has been paid by the Seller. There are Section 106 contributions totalling £241,918.
The full accommodation schedule can be viewed here.
The existing 3/4 storey building is a reinforced concrete (RC) superstructure, comprising a RC floor system spanning between RC beams, in turn supported on a series of RC columns. The substructure is understood to comprise concrete spread footings.
The proposed additional storeys will be constructed utilising lightweight materials. A new steel frame will be installed on top of the existing concrete columns once the existing roof frame has been stripped off and the existing floor exposed.
This is a highly sustainable proposal, retaining the existing ground works, substructures and superstructure, then improving the thermal performance of the existing walls and floor. There will be no extension of the building footprint.
The structural report carried out by JMS Engineers Consulting Group concludes that the conversion of the building to residential purposes and the addition of the proposed floors, will not increase the loading to the existing structure or foundations significantly beyond that for it has originally been designed for. A copy of the report can be found in within our dataroom.
The property is to be sold freehold subject to vacant possession.
The property is not elected for VAT.
Offers are invited in excess of £10,000,000.
Further information including planning documents, the legal pack and indicative resale advice available in the dataroom using access code ‘Pinehurst’.
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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- 4/5 storey office building extending to 55,047sq.ft. NIA with 200+ car parking spaces, occupying a site area of 2.2 acres
- Planning permission for conversion and extension to provide 113 residential apartments (7 x studio, 52 x 1 bed, 52 x 2 bed & 2 x 3 bed units) totalling 74,907sq.ft. NIA
- All apartments are for open market sale
- Located within close proximity to the shops and amenities of Farnborough town centre and just 0.9 miles from Farnborough Station with London Waterloo 34 minutes away
- Offers invited in excess of £10,000,000 for the vacant freehold interest
To discuss this opportunity further, please contact Paul Heale or Chris Incledon on 020 7183 2529