FOR SALE

Littleworth Road, Esher KT10 9PN

Offers in the region of £8,000,000

Description

Claygate House, which was previously the Headquarters of Dairy Crest PLC, is a former office complex which is currently undergoing redevelopment to create one of the most sought-after new developments within Esher in recent years.

The main Claygate House office building, benefits from planning consent to convert to 74 apartments and is currently under construction with completion of the development scheduled for Q1 2021.

The adjoining parcel of land (as outlined in red), which extends to approximately 2.8 acres, now benefits from planning consent for the development of 40 apartments and 11 houses in a new build scheme, and is to be sold, offering an incoming developer the opportunity to complete the final phase of the overall development.

Location

The property is located on Littleworth Road in Esher, Surrey, within Elmbridge Borough Council.

Littleworth Road is an attractive, predominantly residential road, occupied by high-quality properties, with the surrounding area offering a range of open spaces and rural feel, yet still within walking distance of both Esher and Claygate Station.

Esher High Street, Sandown Park racecourse and several highly regarded schools are all within easy reach, and with journey times to London Waterloo in under 30 minutes, this location is particularly popular with individuals and families working in central London yet looking for a more suburban living environment.

Planning & Development Potential

Planning application (under ref: 2019/2134) has been approved at committee in June 2020 for the demolition of the existing office building and construction of 40 x apartments and 11 x houses, as per the schedule of accommodation.

The planning consent is subject to a Section 106 Agreement which sets out various obligations including the provision of 20 apartments to be provided for Affordable Housing (14 x Affordable Rent / 6 x Shared Ownership) plus a CIL payment in the region of £480,000.

A revised planning application has been prepared and will be submitted shortly, which replaces the 11 houses with a further block of 26 apartments, thus providing 66 apartments in total, and is expected to be supported by the Local Authority. A copy of this proposed application is available within our dataroom.

Tenure

The property will be sold freehold with vacant possession on completion.

VAT

The property is not elected for VAT.

Terms

Offers are invited in the region of £8,000,000 for the freehold interest. Offers will be considered on either an unconditional basis, or subject to the revised 66 unit application being approved.

Additional Information

Further information including planning and legal documents are available within our dataroom using the access code ‘EPG’.


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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  • An opportunity to acquire the final phase of this residential development opportunity within a highly sought-after location
  • Existing B1 office extending to 12,077 sq.ft. GIA, plus car park occupying a site area of circa 2.8 acres
  • Planning permission for a new build scheme comprising 40 apartments and 11 houses (43,142 sq.ft. NIA)
  • Alternative scheme for 66 apartments (43,260 sq.ft. NIA) subject to planning consent
  • Offers invited in the region of £8,000,000 for the freehold interest

To discuss this opportunity further, please contact Jordan Oldfield or Ross Kemp on 020 7183 2529

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