FOR SALE

Mill Street, Maidstone ME15 6YD

Offers in the region of £9,000,000

Description

The existing property comprises Len House, a 2-storey Grade II Listed Building extending to approximately 72,366 sq.ft. situated on a site of circa 3.4 acres.

Len House was built in 1938 by Howard & Souter for Lord Rootes who owned Rootes Motor Company, a major manufacturer and seller of prestige automobiles. At that time the building was known as ‘The Rootes Building’ and after a short spell of manufacturing aero engines and commercial vehicles during WWII, Rootes Motor Company went onto manufacture and sell brands such as Hillman, Talbot, Scimca and Sunbeam. The building was then acquired and occupied by Peugeot, who used it as their car show room until late 2019.

Location

The land is situated on Mill Street, within the town of Maidstone, Kent. The site is bounded by a mixture of residential and commercial uses to the north, east and west with the River Len adjoining the southern boundary.

The surrounding area is generally characterised by 2-4 storey dwellings, most of which are a mix of residential and commercial accommodation with Maidstone High Street being situated 1 minutes’ walk away providing a host of numerous shops,  restaurants and amenities.

The site is located within 5 minutes’ walk from Maidstone West railway station and 15 minutes from Maidstone East railway station, with regular services to London St Pancreas International in an hour including commuter High Speed services and routes to London Victoria.

Planning & Development Potential

Planning permission and listed building consent were granted on 1st October 2020 (reference: 20/501029/FULL & 20/501030/LBC) for the restoration, conversion and extensions to the existing Len House building to create 38,879 sq.ft. GIA of flexible commercial floorspace and 80 (27 x 1 bed & 53 x 2 bed units) residential units along with the erection of two new build blocks to provide a further 79 (22 x 1 bed, 49 x 2 bed & 8 x 3 bed units) residential units with 134 parking spaces.

We understand the units will all be for private sale with no future review clause within the Unilateral Undertaking, there is a £80,000 financial contribution within the UU as part of a ‘Culvert Contribution’.

There will be a CIL liability of approximately £1,033.482.59 which can be paid via 4 phased payments as per the instalment policy which can be found in the dataroom.

In readiness for development, we understand that the majority of the conditions relating to the planning permission and the listed building consent have either been discharged or awaiting approval to be discharged. Further information in relation to the planning conditions can be found within the dataroom.

Tenure

The property will be sold freehold.

VAT

The property is elected for VAT.

Terms

Offers invited in the region of £9,000,000 for the freehold interest.

Additional Information

Further information including planning documents are available in the dataroom using access code ‘Len’.


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 car showroom / workshop with associated land on a site extending to circa 3.4 acres
  • Planning for the restoration, conversion and extension of the existing building as well new build blocks to provide 159 apartments (49 x 1 bed, 102 x 2 bed & 8 x 3 bed units) totalling 122,638 sq.ft. plus flexible commercial space extending to approximately 38,879 sq.ft.
  • All units for private sale
  • Sought-after residential location in the heart of Maidstone and fronting the River Len within a 5 minute walk to Maidstone West Station (St Pancras International in 60 mins)
  • Offers invited in the region of £9,000,000 for the freehold interest

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

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