FOR SALE

High Street, Slough SL1 1JS

Offers in excess of £5,000,000

Description

The existing property comprises two adjoining 3-storey retail buildings extending to approximately 20,842 sq.ft. situated on a site of 0.25 acres.

190 High Street is currently let to JD Sports on a 2 year term from 1st October 2020 at a passing rent of £57,500 per annum. There is a mutual break clause which can be actioned after 9 months of JD being in occupation by giving 4 months written notice to vacate.

192 High Street is currently let on a 3 year term from 12th January 2021 at a passing rent of £36,000 per annum, subject to a 3 month mutual break clause. Both leases are outside the protection of the landlord and tenant act 1954.

Location

The property is prominently located between High Street and Herschel Street within Slough town centre (a key regeneration area). The Local Authority is Slough Borough Council.

The immediate area comprises a wide range of retail, office and residential uses, with numerous shops, restaurants and amenities available within close proximity of the site.

Opposite the site is the Queensmere Observatory Shopping Centre which will be developed by the Abu Dhabi Investment Authority and British Land, into a new shopping complex with residential towers which will transform the town centre.

Slough Station is located approximately 0.5 miles from the site, currently providing direct trains east to London Paddington in circa 20 minutes and west to Reading in circa 12 minutes. The station will operate Crossrail / Elizabeth Line services.

Planning & Development Potential

A resolution to grant planning permission was given at committee in June 2021 (reference: P/03079/017) for the demolition of the existing buildings and erection of an 8-storey building to provide 63 residential apartments (8 x studio, 37 x 1 bed, 15 x 2 bed and3 x 3 bed units) totalling 40,473 sq.ft. and two ground floor flexible commercial units (Class E) extending to approximately 5,608 sq.ft.

All of the units will be for private sale with no CIL liability due.

A right of way (vehicular and pedestrian) from Park Street falls under the same ownership as the site and can be utilised for the build programme (highlighted blue on the promap image).

Tenure

The property will be sold freehold with existing tenancies in situ.

Terms

Offers invited in excess of £5,000,000 for the freehold interest.

VAT

We understand that the property is elected for VAT.

Additional Information

All relevant planning, technical and legal documents can be viewed and downloaded from the dataroom using access code ‘Slough190′.


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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  • Two adjoining 3-storey retail buildings extending to approximately 20,842 sq.ft. situated on a 0.25 acre site
  • Resolution to grant planning permission for a new build scheme comprising 63 private residential apartments totalling 40,473 sq.ft. and two ground floor flexible commercial units (Class E) extending to approximately 5,608 sq.ft.
  • Fully let to JD Sports and Poundland on short term leases producing £93,500 per annum
  • High Street location within Slough’s town centre, opposite the Observatory Shopping Centre and a short walk from Slough station
  • Offers invited in excess of £5,000,000 for the freehold interest

To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529

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