Residential Development Site

Sale Type:

Private Treaty

Sale Process Information:

Offers are invited

As constructed 13,059 sq ft.
As proposed 16,823 sq ft

Vacant Retail Unit / Consented Residential Development Opportunity

Class E - Commercial, Business & Service

Location:

Suffolk, UK

Viewing Information
Strictly via Hilco Global Real Estate

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Location

On the western side of Hamilton Road, occupying a prime trading position in the town centre. Café Nero is adjacent while Peacocks, Iceland and Santander are close by.

Felixstowe station is  c 500 metres to the north providing connections to Ipswich in 26 minutes and London via Ipswich in 1 hour 54.

Description

A mid terrace two / three storey building with a glazed ground floor retail.

Ground floor comprises a open plan retail unit to the with pedestrian and works access via the large secure cark / yard to the rear..

The first floor has the same floor plate as the ground floor and can be self contained due to a separate access from Hamilton Road. Additional stairs to rear and good lift.  Laid out to provide offices to the front, with the remainder open plan space with two walk in cold stores.

The second floor is to the rear and comprises open plan and partitioned offices with WCs.

Externally there is a gated secure yard with a covered loading bay, accessed from Highfield Road.

Floor Areas

Site Area

0.22 acres (0.89 hectacres)

Tenure

The property is held freehold.

Rating

Rateable Value: £81, 400

Energy Performance Certificate

69 – C

Planning

The property is within use class E – Commercial, Business & Service.

Planning consent (ref DC/20/1867/FUL) was granted in September 2020 for the ‘refurbishment, extension and part conversion of existing retail premises to provide a refurbished retail unit at ground floor and 14 new flats, with associated landscaping and cycle parking.  Reconfiguration of ground floor service accommodation fronting Highfield Road, demolition of roof and internal fabric to existing 1st and second floor.

Opportunity / Alternative Uses

Asset management initiatives (STP) could include:

  • Division of the ground floor into 1 or 2 retail units fronting Hamilton Road, with an alternative use to the rear.
  • Ground floor use as a restaurant / public house
  • Rear ground floor/first/second floors as offices, self storage, creche, medical, R&D, alternative residential to consented scheme
  • Note yard /car parking to rear with goods lift to upper floor.

The Consented Scheme

Legal Costs

Each party is to bear their own legal costs.

Sale Process

It is intended that the property will be sold by way of private treaty.

The LPA Receivers are not bound to accept the highest, or indeed any offer received.

Terms

Offers are invited for the freehold interest.   The vendors preference is to accept an unconditional offer, however offers which are subject to planning will also be considered.

Further Information

Additional information is available in the data room.  Access will be provided on request.

Joint Agent – Penn Commercial

Vanessa Penn 01473 211933 / vanessa@penncommercial.co.uk

 

Contacts

Nick Hughes MRICS

Director

London Office

+44 (0) 7979 541238

nhughes@hilcoglobal.eu

Ed Jeffery MRICS

Associate Director

London Office

+44 (0) 7923 221212

ejeffery@hilcoglobal.eu