commercial property - Other for sale in RM1 1HR, for £35,000,000 by Savills - Proptyle

commercial property - Other for sale in RM1 1HR, for £35,000,000 by Savills

Angel Way & 22-55 North Street Romford, £35,000,000

Key features The site area totals approximately 2.75 acres (1.11 ha) The subject property is centrally situated within Romford town centre. For sale freehold Attractive average unit size of approximately 594 sq ft across the two schemes A rare development opportunity located in Romford town centre within the London Borough of Havering About this property The Property comprises two sites: Angel Way and North Street, which have planning permission for a mixed use development scheme. Angel Way has detailed planning permission for the construction of 350 residential apartments (31 affordable units), ground floor retail space, a 63 bed hotel and basement car parking. No CIL is applicable for the Angel Way site. Affordable housing of approximately 9%. North Street has detailed planning permission for the development of 98 residential units (20 affordable units), with flexible commercial space at ground floor. THE PROPERTY The site is located in Romford Town Centre and lies within the jurisdiction of the London Borough of Havering. The property is bounded by the A118 (St Edwards Way) to the north and west, and Trinity Methodist Church and a large multistorey car park to the south. To the east the property is bounded by South Street, which is partly pedestrianised. The Property is held under four land registry titles (NGL27032, GL30498, EGL488181 & NGL99285) and comprises two elements: Angel Way and North Street, which are separated by Angel Way road, which provides vehicular access to both sites. The Angel Way site is is located to the western side of Angel Way and currently comprises an irregularly shaped, vacant brownfield site. The North Street site is is situated on the eastern side of Angel Way and comprises a predominantly vacant building site with a part built concrete frame, completed up to fourth level. The site area totals approximately 2.75 acres (1.11 ha) ANGEL WAY Overview The site measures approximately 2.38 acres (0.96 ha) The site is vacant and there are various trees and shrubbery scattered throughout the site. There are the foundations of a demolished building in south eastern corner. Part of the site towards the western boundary is in flood zone 2 The site is not located within a conservation area, nor are there any listed buildings on site Planning Consent A planning consent (ref. P2246.0) was granted by way of an appeal in December 2009 for: 350 residential units (C3) within 3 blocks (A, B and C) ranging in height from 4 storeys in block A to 15 storeys in block C A 63-bedroom hotel Ground-floor commercial units 171 basement car parking spaces (with associated disabled spaces and cycle spaces) A new public square Confirmation of the consent being implemented was supplied by the council in January 2015. 22-55 NORTH STREET Overview The site area is approximately 0.37 acres (0.15 ha) The site is predominantly vacant building site with a part built concrete frame completed up to fourth level. We have included a structural feasibility report from December 2020 in the data room, however we advise that the sale is subject to parties own due diligence. Planning Consent Detailed planning consent was granted on appeal in December 2020 (ref. P1292.15) for: 98 residential units (C3), including 20 affordable units, ranging in height from 6 to 16 storeys Ground-floor commercial units 32 basement car parking spaces (including 10 disabled spaces) 63 cycle spaces Local information Romford is a rapidly evolving town on the boarders of East London and Essex which has seen significant redevelopment in recent years following the success of the Olympic Park redevelopment in Stratford, and since being named as a station on the new Elizabeth (Crossrail) train line. The Liberty Shopping Centre, Brewery Shopping Centre and Mercury Shopping Centre are all within close proximity. These provide a comprehensive retail offering for Romford Town Centre. The Chase Nature Reserve, a 120 acre park consisting of a diverse mix of habitats alongside the River Rom, is situated 1.6 mi (2.5 km) to the south. Excellent transport links, providing easy access west towards Central London and east towards Brentwood and Essex. Additional information The site is located in Romford Town Centre and lies within the jurisdiction of the London Borough of Havering. The property is bounded by the A118 (St Edwards Way) to the north and west, and Trinity Methodist Church and a large multistorey car park to the south. To the east the property is bounded by South Street, which is partly pedestrianised. The Property is held under four land registry titles (NGL27032, GL30498, EGL488181 & NGL99285) and comprises two elements: Angel Way and North Street, which are separated by Angel Way road, which provides vehicular access to both sites. The Angel Way site is is located to the western side of Angel Way and currently comprises an irregularly shaped, vacant brownfield site. The North Street site is is situated on the eastern side of Angel Way and comprises a predominantly vacant building site with a part built concrete frame, completed up to fourth level.