Hare Street, Buntingford SG9 0DX
The property comprises a collection of light industrial buildings, offices and outbuildings which extend to approximately 64,540 sq.ft. as well as a detached residential farm house situated to the front of the site. The property also benefits from substantial land surrounding the existing buildings with a total site area of 19.9 acres.
The property is bounded by predominantly agricultural land and some residential dwellings.
The property is let on separate agreements to a variety of tenants outside the L&T Act producing £270,000 p.a. in total; the agreements can be mutually terminated with 1 months’ notice.
The property is located on Hare Street, near Buntingford within East Hertfordshire.
Buntingford town centre is located 2.7 miles from the property providing numerous local amenities and commercial offerings.
The property benefits from excellent access to the national motorway network being located 13 miles to the A1 providing access to London and direct access to the M1.
Planning & Development Potential
The property, which is within the East Hertfordshire District Council, benefits from a B1(c) industrial use, made up of warehouse and ancillary office space as well as C3 residential.
The site is located within the Rural Area beyond the Green Belt and within a designated employment area.
A pre-application process was carried out in February 2021 which looked to re-develop 14 acres of the site and provide circa 205,000 sq.ft. of warehouses (34.1% of overall site coverage).
The pre-app feedback was positive, concluding that “continued employment use with an expanded floor space provision is generally welcome”.
Following the positive pre-application, the vendor has submitted an outline planning application (3/21/1576/OUT) on 14th June 2021 which included the entire site which proposes to demolish the existing buildings and create 14 commercial units (use classes E(g), B2 and B8) extending approximately 271,059 sq.ft. with all matters reserved except for access.
Further information, including the pending outline application can be found within our dataroom.
The property will be sold freehold subject to the existing tenancies remaining in situ.
The property is not elected for VAT.
Offers are invited for the entire freehold interest either as a whole or in smaller parcels, unconditionally or on a subject to planning basis. Consideration will also be given to leasehold offers for part or all of the site.
Further information including technical documents are available in the dataroom using access code ‘Silk’.
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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- Light industrial buildings and Farmhouse extending to 64,540 sq.ft. situated on a 19.9 acre site
- Producing £270,000p.a. let to a range of tenants on short-term agreements
- Outline planning application pending for the creation of 14 commercial units extending to approximately 271,059 sq.ft.
- Located close to Buntingford within Hertfordshire
- Offers are invited for the entire freehold interest either as a whole or in smaller parcels, unconditionally or on a subject to planning basis
- Consideration will also be given to leasehold offers for part or all of the site
To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529