High Road, Chadwell Heath RM6 6NU
Offers in the region of £4,500,000
The property comprises a former Public House arranged over basement, ground and first floor, which is currently vacant.
The main 2-storey section of the building fronts on to High Road, with single-storey outbuildings and beer garden to the rear.
The buildings occupy a rectangular site of approximately 0.8 acres which incorporate a substantial car park which is accessed directly from High Road.
The site is bounded by residential properties to the east, shops with residential uppers to the west and St Chad’s Church to the south.
The property occupies a prominent position on the corner of High Road and St Chad’s Road in Chadwell Heath, within the London Borough of Barking & Dagenham.
The property is situated in close proximity the numerous shops and amenities of Chadwell Heath town centre, including a Sainsbury’s superstore circa 100m to west along High Road. St Chad’s Park (a large public park) is located a short walking distance to the north of the site.
Chadwell Heath Station is located approximately 650m from the site, offering services into Central London. Currently journey times to Liverpool Street are circa 27 minutes, although this will be reduced to circa 23 minutes once the full Crossrail services open.
Planning & Development Potential
The property is Locally Listed and is not within a Conservation Area. The Local Listing relates to the historic use of the site as a Public House, dating back over 200 years.
Planning permission has been approved, subject to a S106 Agreement (ref: 18/01729/FUL) which proposes redevelopment of the site to provide 53 residential apartments (18 x 1 bedroom, 21 x 2 bedroom & 14 x 3 bedroom units) totalling 37,696 sq.ft. NSA, whilst retaining part of the existing Public House.
The existing Public House buildings, which is Locally Listed, will remain and provide 1,830 sq.ft. GIA of A4 space across the ground floor, as well as a beer garden, with the upper parts to be extended and converted to provide 4 apartments (3 x 1 bedroom & 1 x 2 bedroom units) totalling 2,433 sq.ft. NSA.
The surrounding land will be redeveloped with 5 new blocks (1 x 3-storey & 4 x 4-storey) which will provide 49 new build apartments (15 x 1 bedroom, 20 x 2 bedroom & 14 x 3 bedroom units) totalling 35,263 sq.ft. NSA.
4 parking spaces are proposed at surface level and the scheme includes a communal play area, with the majority of units benefitting from private amenity space.
12 apartments are proposed for Affordable Housing and all of these are to be located within Block A. The planning consent is also subject to a review mechanism in respect of the Affordable Housing contribution, details of which can be found within the dataroom.
A full schedule of accommodation can be found here.
The planning consent is subject to a Mayoral CIL payment of £63,725 and a LBBC CIL payment of £25,490.
The Seller has agreed Heads of Terms for the refurbished pub to pre-let to an independent operator for a term of 20 years at an initial rent of £20,000 per annum. Further details can be provided.
The property is to be sold freehold with vacant possession on completion.
The property is elected for VAT.
Offers are invited in the region of £4,500,000 for the freehold interest, or £4,000,000 excluding the existing building.
Further information can be found in the dataroom using the password ‘Whitehorse’.
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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- Former Public House occupying a highly prominent roadside site, extending to approximately 0.8 acres
- Planning permission for a new build scheme of 49 apartments within a 3 / 4 storey block, plus conversion of the existing building to create an additional 4 apartments and a new Pub of 1,830 sq.ft.
- 41 apartments for open market sale with 12 designated as Affordable Housing
- Located in the town centre within close proximity of Chadwell Heath ‘Crossrail’ Station
- Offers invited in the region of £4,500,000 for the freehold interest, or £4,000,000 excluding the existing Pub building
To discuss this opportunity further, please contact Paul Heale or Joe Goldsmith on 020 7183 2529