High Street, Slough SL1 1JS
Offers invited £6,000,000
The existing property comprises a former Department store which extends to approximately 42,767 sq.ft. NIA over 4-storeys.
The property was most recently operated by British Home Stores and is arranged with an open plan sales area at ground floor with ancillary staff areas and storage across the upper floors.
The site has frontages on to the pedestrianised High Street to the north and Herschel Street to the south. The main customer entrance is situated on the High Street, with secondary access and servicing taken through the rear via Herschel Street.
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.
Directly opposite the site is the 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 0.25 miles from the site, currently providing direct trains to London Paddington in circa 20 minutes. The station will operate Crossrail / Elizabeth Line services.
Planning & Development Potential
Planning permission was granted (ref: P/02683/013) on 25th March 2020 for the demolition of the existing building and the construction of new part 4, part 5, part 11-storey building to provide 78 residential units and 3 commercial units.
The residential element of the proposed scheme comprises 43 x 1 bedroom and 35 x 2 bedroom apartments totalling 51,506 sq.ft. NIA across the 1st – 11th floors. The proposed commercial space consists of 2 retail units at ground floor totalling 12,276 sq.ft. NIA and an office unit at 1st floor extending to 3,455 sq.ft. NIA, all accessed from and with frontages onto the High Street.
The planning consent is subject to a Section 106 agreement obligating 9 of the proposed units for Shared Ownership (or flexible tenures if required). All Shared Ownership units will be located in Block A.
The property will be sold freehold and subject to vacant possession on completion.
The property is elected for VAT.
Offers are invited for the freehold interest by 22nd July 2020. Proposals will be considered on the basis of an outright sale, or with the newly built retail element being handed back to the Seller.
Further information including planning documents are available in the dataroom using access code ‘Slough’.
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 ‘BHS’ department store extending to approximately 42,767 sq.ft. NIA, occupying a site area of circa 0.6 acres
- Planning permission for a part 4, part 5, part 11 storey new build scheme comprising 78 apartments totalling 51,506 sq.ft. NIA and 15,731 sq.ft. NIA of retail and office space
- High Street location within Slough’s town centre, opposite the Observatory Shopping Centre and a short walk from Slough Station which will operate Crossrail services
- Offers are invited for the freehold interest by 22nd July 2020. Proposals will be considered on the basis of an outright sale, or with the newly built retail element being handed back to the Seller
To discuss this opportunity further, please contact Jordan Oldfield or Ross Kemp on 020 7183 2529