Vicarage Road, Watford WD18 0EN
Guide Price of £3,250,000
Site & Location
The Site is situated on Vicarage Road, South of Watford town centre, and 50 metres from Vicarage Road Stadium.
It currently comprises a former printing works together with three attached shops, all of which are vacant. These occupy a site extending to c.0.12 hectares (0.29 acres). The printing works comprises a large workshop together with a 2-storey late Victorian building.
The surrounding area is a mix of predominately residential streets, although the football stadium and Watford General Hospital, a short distance to the south west, dominate the area. The area to the south and around the hospital is already underway with a joint £250m regeneration initiative between Watford Borough Council, West Herts NHS Trust and Kier in order to provide a new state of the art Accident & Emergency hospital, new homes and new business space. Watford is an important regional town with a bustling town centre and excellent transport connections to London and the South East. Intu Watford Shopping Centre, anchored by M&S and John Lewis, is located 700 metres (0.4 miles) to the north east and has undergone a £180 million redevelopment in the past few years. The site benefits from being within 600m (.35mile) to the new Harwoods Adventurous Playground which offers exciting state of the art outdoor play facilities for young people and their families to enjoy.
Watford High Street station is 800 metres to the east and provides London Overground services into Euston, through local stops and other north west London stations including, Harrow & Wealdstone, Wembley and Willesden Junction. Passengers can change one stop to the south at Bushey where services into London Euston are as fast as 19 minutes. The national motorway network is easily accessible with junction 5 of the M1 3.8 km (2.3 miles) to the north east and junction 20 of the M25 7km (4.4 miles) to the north.
The property falls within the jurisdiction of Watford Borough Council. Planning permission (Ref: 18/01269/FULM), was granted on 12th July 2018, for: “Redevelopment of the site to provide a mixed-use scheme comprising of 30 residential units (Class C3), flexible commercial floorspace (Class A1/A2/B1/D2), cycle parking, landscaping and associated works.”
Under variation of condition 2 to amend the internal layout and external elevations to facilitate a revised mix of accommodation pursuant to planning permission 18/01629/FULM the site is now being sold with the benefit of planning permission for 36 apartments.
All of the residential apartments will be for private sale. They have been designed with layouts that create modern flats with a high-quality living space with usable and convenient external balcony spaces. The commercial units are flexible spaces that would suit a range of occupiers. They will benefit from footfall to Vicarage Road Stadium and proximity to Watford General Hospital, a major
employer in the area.
The residential units will all be for private sale. A unilateral undertaking under Section 106 includes Financial payments which total £282,000, including a payment towards the provision of affordable housing. The development will be subject to Watford Borough CIL at a rate of £120 per sq.m. which will be subject to inflation using the national All-In-Tender Price Index of construction costs published by the Building Cost Information Service (BCIS). The anticipated total liability is £228,000, but interested parties should undertake their own calculations.
The property is for sale freehold with vacant possession by way of informal tender (unless sold prior).
The property is elected for VAT.
Guide price of £3,250,000.
The site can be viewed from the public highway. If you require access to the existing buildings then please contact the selling agents to arrange an inspection. Further detailed information can be found at www.vicarageroad.com
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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- 0.12-hectare (0.29 acre) site comprising a vacant printworks and shops
- Planning permission for the demolition of the existing building and redevelopment of the site to provide a scheme comprising 36 private apartments and 3 Flexible use (A1/A2/B1/D2) commercial units
- Proposed residential mix of 25 x 1-bed, 9 x 2-bed and 2 x 3-bed units with a total Net Saleable Area of 2,061 sq.m. (22,185 sq.ft.)
- 3 commercial units extending to 220 sq.m. (2,368 sq.ft.) GIA
- Total combined scheme area of approximately 2,807 sq.m. (30,215 sq.ft.) GIA
- Located approximately 800 metres (0.5 miles) from Watford High Street Overground Station
- For sale freehold with vacant possession, guide price of £3,250,000
To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529