Grove Road, Chadwell Heath RM6 4UL
Offers in excess of £2,000,000
The property comprises a collection of single storey light industrial buildings, including temporary portacabin offices and workshops, which extend to approximately 6,558 sq.ft. positioned on a 0.5 acre site.
The site incorporates a car park area which provides parking for numerous vehicles, as well as areas of hard-standing surrounding the buildings that allow for further parking. The property can be accessed via Grove Road.
The property is let on a lease at £50,000 per annum which expires in January 2023 by way of a landlord break clause which has been exercised.
The property is located on Grove Road in Chadwell Heath. The Local Authority is The London Borough of Redbridge.
The immediate area comprises predominantly residential uses with some local amenities available further along Grove Road. To the rear of the site is Chadwell Heath Academy and Christie Gardens Park.
Both Chadwell Heath and Goodmayes Stations are located 0.8 miles to the south of the site (circa 15 minute walk), providing TfL rail services into London Liverpool Street in 25 minutes.
Planning & Development Potential
The property benefits from B1(c) light industrial use, made up of warehouse and ancillary office space.
The property offers potential for comprehensive redevelopment by way of either a fully residential or mixed-use scheme, subject to obtaining the necessary consents.
A feasibility study has been prepared which shows how the site can be redeveloped with a 4-storey new build scheme comprising up to 34 residential units. There may be potential to increase upon this if the neighbouring Juniper Close access road, which is in private ownership, were to be utilised.
Please contact Redbridge Council on 020 8708 2884 for all planning enquiries.
The property is being sold freehold.
The property is not elected for VAT.
Offers are invited in excess of £2,000,000 for the freehold interest.
Further information is available within our dataroom using the access code ‘Grove’.
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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- Car repair centre and associated land positioned on a 0.5 acre site
- Potential for comprehensive residential or mixed-use redevelopment, subject to planning permission
- Located in a popular residential area and within walking distance to Chadwell Heath and Goodmayes Stations
- Offers are invited in excess of £2,000,000 for the freehold interest
To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529