residential development opportunity for sale...the site to be completed. the sellers are in the...
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Wickford Library, Market Road, Wickford, Essex SS12 0AGResidential Development Opportunity For Sale
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SUMMARY
Wickford Library, Market Road, Wickford, Essex SS12 0AG
• Former Library and Community Centre with associated car parking, occupying a site extending to circa 1.28 acres
• Planning permission for 65 apartments (34 x 1 bed & 31 x 2 bed units) extending to approximately 39,987ft2 NIA alongside a 611ft2 flexible unit (Use Classes A2/A3/B1a/D1)
• All units for private sale
• Located in a popular commuter town and in close proximity to Wickford Station offering direct services into Liverpool Street in 37 minutes
• Offers invited in excess of £3,000,000 for the freehold interest
DESCRIPTION & LOCATION DEVELOPMENT TERMS
www.kingsbury-consultants.co.uk
AERIAL
DESCRIPTION
LOCATION
The site to be sold, which extends to approximately 1.28 acres as outlined in red on the plan, is currently occupied by Wickford Library and Community Centre, which is operated by Basildon Council.
Planning permission has been approved for the creation of a new library facility on the retained land edged blue on the plan, which will enable the demolition of the existing library building and development of 65 new apartments plus retail space on the land edged red.
The scheme will be for open market sale, with no requirement for Affordable Housing on site, and given the proximity to the train station with frequent services to Liverpool Street, the new apartments are expected to be well sought after by first time buyers and investors alike.
The property is located on Market Road in Wickford Town Centre, within Basildon Borough Council.
The property lies west of Wickford High Street which comprises predominantly commercial uses, with numerous shops and amenities available within the shopping centre and along the High Street.
Wickford Station is located approximately 0.2 miles to the north of the property, providing national rail services into Liverpool Street in approximately 37 minutes.
DESCRIPTION & LOCATIONHOME SUMMARY DEVELOPMENT TERMS
www.kingsbury-consultants.co.uk Wickford Library, Market Road, Wickford, Essex SS12 0AG
AERIAL
HOME SUMMARY DESCRIPTION & LOCATION AERIAL TERMS
www.kingsbury-consultants.co.uk Wickford Library, Market Road, Wickford, Essex SS12 0AG
PLANNING PERMISSION FOR 18 APARTMENTS
UNDER CONSTRUCTION
THE WILLOWS SHOPPING CENTRE
WICKFORD STATION
HIGH STREET
DEVELOPMENT
18-20 HIGH STREET
NEW WICKFORD LIBRARY
FORMER WICKFORD LIBRARY
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
PLANNING & BUILD PROGRAMMEPlanning permission was granted on 12th March 2020 (ref: 19/00454/FULL) for the comprehensive redevelopment of the site involving the demolition of existing library and community centre and erection of a 5-storey mixed-use building comprising 65 residential units and 1 x flexible unit (Use Classes A2/A3/B1a/D1) at ground floor level with car parking area; as well as the extension and change of use to Unit 8 The Willows for use as a library together with associated parking.
Phase 1 of the consent relates to the extension and refurbishment of 8 The Willows (the former HSBC bank) to create the new library, which upon completion of the works will be handed to Basildon Council, enabling the existing library building to be closed and the sale of the site to be completed. The Sellers are in the process of carrying out Phase 1 works, and these are expect to be completed by Q1 2021.
Phase 2 of the consent relates to the development of 65 apartments (34 x 1 bed & 31 x 2 bed units) which will provide approximately 39,987ft2 (NIA) of residential floorspace alongside a single flexible unit which will occupy part of the ground level and extend to approximately 611ft2.
The intention is that contracts will be exchanged on the sale of the site, subject to the Seller completing the Phase 1 works, and therefore it is anticipated that legal completion of the sale will take place in Q1 2021.
We understand that the proposed scheme is also subject to Section 106 contributions amounting to circa £185,610.
Please note that 21 car parking spaces within the new scheme will be retained by the Seller on a long lease, to service the retail offering in the adjoining Willows Centre with 47 car parking spaces remaining for the development.
www.kingsbury-consultants.co.uk Wickford Library, Market Road, Wickford, Essex SS12 0AG
AERIAL
Phase Study Plan
TENURE
The property will be sold freehold with vacant possession upon completion.
VAT
The property is not elected for VAT.
TERMS
Offers are invited in excess of £3,000,000.
ADDITIONAL INFORMATION
Further information including planning and legal documents are available within our dataroom using the access code ‘Library’.
CONTACT
To discuss any aspect of this property or the disposal process, please contact the sole selling agents:
Jordan Oldfield
020 7183 2529
Ross Kemp
020 7183 2529
Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, 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.
TERMSHOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT
www.kingsbury-consultants.co.uk
Kingsbury
1st Floor, 81 Alie Street, London E1 8NH
Wickford Library, Market Road, Wickford, Essex SS12 0AG
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