Embed Size (px)
Citation preview
SAVILLS LONDON33 Margaret StreetLondon W1G 0JD
+44 (0) 207 016 3873
savills.co.uk
FOR SALE FREEHOLD DEVELOPMENT / OWNER OCCUPIER OPPORTUNITY
Key Highlights• 0.74 ha (1.84 acre) site in Chesham,
Buckinghamshire
• 1.7 km (1.0 mile) from Chesham London Underground station (Metropolitan Line), providing direct services to Central London
• Existing warehouse premises extending to 2,996 sq m (32,249 sq ft) GIA and ancillary office building extending to 367 sq m (3,949 sq ft) IPMS3
• Potential for redevelopment to suit various uses, including residential, subject to the necessary consents
• Unconditional offers invited for the freehold interest with vacant possession
• For sale by way of informal tender (unless sold prior)
GLOBAL INFUSION COURTPreston Hill, Chesham, Buckinghamshire HP5 3FE
Aerial image of site – boundary for identification purposes only. Image taken November 2016
savills.co.uk
LocationThe property is situated in Chesham, an affluent market town in Buckinghamshire, approximately 46 km (29 miles) to the northwest of Central London.
The property is situated approximately 1.4 km (0.9 miles) to the north of Chesham town centre, which offers an extensive local retail offering, with a pedestrianised high street including a Waitrose supermarket, Boots Chemist, Waterstones and WH Smith. There are also a number of restaurants and coffee shops.
The property is situated on the A416, which runs between the A41 at Berkhamsted to the north east and the A404 towards Amersham to the south. The A41 is 4.3 km (2.7 miles) to the north east which provides access to the M25, M1 and the wider motorway network. Nearby towns include Amersham 5.3 km (3.3 miles) to the south, Aylesbury 20.9 km (13.1 miles) to the north west, Hemel Hempstead 9.6 km (6.0 miles) to the north east and High Wycombe 15.6 km (9.7 miles) to the south west.
The property is approximately 1.7 km (1.0 mile) to the north of Chesham London Underground station, providing direct services to Central London via the Metropolitan Line. In addition, National Rail services are available from Berkhamsted and Amersham stations, providing direct rail links to London Euston and Marylebone stations respectively in under 35 minutes (Source: National Rail).
The property benefits from its close proximity to Nashleigh Hill Recreation Ground, which is situated approximately 200 metres to the west of the site entrance, providing 3.85 hectares (9.50 acres) of public open space.
SAVILLS LONDON33 Margaret StreetLondon W1G 0JD
+44 (0) 207 016 3873
FFDef
BS
115.5m
PRESTONHILL
CHERRY TREE WALK
COURT
RUSSELL
El Sub Sta
17
1012
19
5
1
5
14
4
7
8
31
9
1113
2
22
20
1
28
1a
1
3
8
15
6
126.8m
El Sub Sta
Warehouse
0m 25m 50m 75m
Ordnance Survey © Crown Copyright 2019. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250
Not to scale
Not to scale
savills.co.uk
DescriptionThe site is rectangular in shape and extends to approximately 0.74 ha (1.84 acres). It is bound to the north by Nashleigh Hill (A416), to the south by Cherry Tree Walk and to the west by Preston Hill, which provides both vehicular and pedestrian access. Immediately to the east of the site is an extensive area of woodland. The surrounding area is largely residential in nature, typified by low density, post-war houses and flats of between 2-3 storeys.
In broad terms, the property comprises a series of three interlinked warehouse buildings and a three storey office building. The buildings are arranged around a service yard, providing open storage and 49 car parking spaces.
The warehouse premises are arranged in three bays with an adjacent lean-to structure, extending to a total of 2,996 sq m (32,249 sq ft) GIA. Internal eaves heights range from between 3 metres up to 7 metres. Construction is of a portal frame nature with brick elevations to the flank and profile steel facings to the front.
The three storey offices extend to a total of 367 sq m (3,949 sq ft) IPMS3. The building is of brick construction beneath a flat roof with windows of a metal crittall style. Internally, the offices are decorated with suspended ceilings, demountable partitioning and panel radiator central heating.
Please find a summary of existing areas set out below:
WAREHOUSE (GIA) SQ M SQ FT
Bay 1 766 8,250
Bay 2 904 9,729
Office Mezzanine 129 1,386
Storage Mezzanine 143 1,541
Bay 3 749 8,062
Kitchen/Store, W.C. & Shed 213 2,289
Covered Store Link 92 993
Total 2,996 32,249
OFFICE (IPMS3) SQ M SQ FT
Ground 118 1,273
First 124 1,335
Second 124 1,340
Total Office 367 3,949
TOTAL 3,363 36,198
SAVILLS LONDON33 Margaret StreetLondon W1G 0JD
+44 (0) 207 016 3873
Photo showing ancillary office building Photo showing three adjoining warehouse premises
savills.co.uk
PlanningCurrent Planning Policy:The property sits within the administrative area of Chiltern District Council.
The key relevant documents within the current Development Plan include:
• The Core Strategy, adopted 2011
• Saved policies from the Local Plan 1997, (adopted 1997, alterations made 2001, consolidations made 2007 and 2011)
• The Policies MapThe property is identified on the policies map as an Area for Business and Storage or Distribution Development, related to policy E3 of the Local Plan 1997.
Policy E3 states that “Within these areas development for business, or storage or distribution purposes will be acceptable, provided that other policies in this Local Plan are complied with. Development for uses other than business, or storage or distribution will not be permitted within the defined areas, except as set out below. Exceptions may be made in the case of existing general industrial uses where it can be demonstrated that the general industrial development proposed would not cause significant deterioration in the amenities of the occupiers of properties in the vicinity of the site and Policies TR2, TR3 and TR11 in this Local Plan can be complied with”.
However policy CS16 of the Core Strategy states that “Where an employment site (including sites covered by policies E2 and E3) is within the built-up areas excluded from the Green Belt, the loss of employment land as a result of redevelopment for other uses, including residential use, will be acceptable where there is no reasonable prospect of the site being used for employment purposes, or where it is creating significant amenity issues, or where the existing use is creating significant highway problems”. Within the current planning application (see below) for redevelopment of the site to residential use, the applicant contends that the existing use is creating significant highways problems, and thus release of the site for an alternative use is justified – they set out a number of other material considerations which also support the release.
Emerging Planning Policy:
Chiltern District Council is in the process of producing a new Local Plan, jointly with South Bucks District Council – the Chiltern and South Bucks Local Plan 2036. The council are consulting on the draft Local Plan 2036 until July 19th 2019.
The draft Local Plan 2036 indicates that Local Plan 1997
policy E3 will be replaced by draft policies SP EP4 and DM EP3. Draft policy SP EP4 allocates specific sites (not including the subject property) for development of economic floor space – whilst draft policy DM EP3 states:
Intensification of Uses:Planning permission will be granted for the intensification, modernisation or regeneration of any economic site provided that it can be demonstrated that the proposed development:
• Is for economic uses;
• Provides an equal or higher-density development than the current provision (with more economic floor space or jobs per hectare) and seeks to make the best and most efficient use of land; and
• Does not cause unacceptable environmental impacts
Other Economic Sites:(NB – the subject property is not shown as a Strategic or Key Economic Site so is classified as “Other”)
Planning permission will only be granted for the net loss of economic floor space on other economic sites subject to the following criteria:
• The site or building is no longer suitable for its existing or last economic use; and
• Evidence is produced to show that the site and building have been marketed both for their present use and for potential modernisation or regeneration for alternative economic uses
Planning History:
We understand that the current use of the site is office B1(a) and warehouse B8, operating as a distribution centre.
The online planning records show applications submitted from 2000 onwards, notably:
• CH/2018/0490/PNO - Prior approval for conversion of the office building to 9 residential units under permitted development rights, granted 9th May 2018.
• PL/18/2066/FA – Application for the demolition of existing buildings, erection of three blocks containing 91 dwellings, associated vehicular access, car parking, landscaping and engineering works, submitted 4th June 2018. The application remains pending as of July 2019.
In addition to the above, a small number of minor applications relating to alterations to the buildings are shown.
SAVILLS LONDON33 Margaret StreetLondon W1G 0JD
+44 (0) 207 016 3873
Title &TenureSavills are instructed to sell the option to purchase the freehold interest of the site (subject to the terms of the option agreement).
The site will be sold with the benefit of vacant possession.
Method of SaleThe site will be sold by way of informal tender (unless sold prior).
EPCThe Energy Efficiency Ratings are E. Copies of the Energy Performance Certificates can be found in the data room.
VATThe property is not elected for VAT.
ViewingsViewings are strictly by appointment; please contact the sole selling agents to make an appointment.
Further InformationFurther information, including technical and legal documentation, is available at: www.savills.co.uk/globalinfusioncourt
ContactDarren Arnold+44 (0) 207 409 [email protected]
Harry Wentworth-Stanley+44 (0) 207 016 [email protected]
Matthew Davis+44 (0) 1865 269 [email protected]
Kate McCree+44 (0) 1865 269 [email protected]
Photo of the service yard, warehouse buildings and office taken from the north western perimeter
IMPORTANT NOTICEMaps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.
Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
Designed and Produced by Savills Marketing: 020 7499 8644 | July 2019
