By Peter Castle
Managing Director
Hadland Chartered Surveyors
HADLANDS have recently been involved in two transactions of period town centre buildings. We have recently sold 22 York Road and acquired 51 St. Giles Street, formerly Jack Haddon Florists, on behalf of a private client.
The York Road property is a four-story period town house office building with a private car park at the rear, which achieved a sales price of £300,000, the best price achieved in the area for some time.
We acted on behalf of a private client to acquire the freehold interest in 51 St. Giles Street, a three-storey building located in a prominent position on the ‘High Street of the Year 2015’. Our client intends to redevelop the building, retaining a ground floor commercial unit, with residential accommodation on the upper floors.
This highlights the attractiveness of properties with redevelopment potential to developers and investors, providing greater returns on their investment whilst satisfying the demands for residential accommodation in the area, from both students and professionals wishing to live in the town centre.
Hadlands, on behalf of the new owners of Buddies restaurant chain, have been instructed to dispose of the chain’s former Towcester site on the outskirts of the town. Standing on a site of 0.48 acres the 2,500 square foot single-storey diner provides 80 covers and a fully equipped kitchen. It can be rented or purchased.
We have also recently been instructed to market 67 Abington Street, a former coffee shop with accommodation over three floors and a substantial roof terrace – which may be suitable for shisha use, subject to obtaining the requisite planning consents. The property is located in a prime position opposite the Central Library, with nearby occupiers including Tesco, Metro Bank, and H & M.
Elsewhere we have been instructed to market 177 Wellingborough Road, a ground floor retail unit measuring 677 square feet, at £16,500 per annum exclusive. The property would suit a number of retail uses, with the locality being popular both in the day and at night with a large residential and commercial catchment.
There has been a noticeable increase in the demand for high-quality office accommodation, and we have recently been instructed to market the South Wing at 1 Cheyne Walk and the first floor at Falcon House, Sketty Close, Brackmills. The South Wing at 1 Cheyne Walk comprises around 1,500 square feet of period office space, and is available by means of a sub-lease at an asking rent of £17,000 per annum exclusive – there are also two parking spaces provided in an on-site car park.
Falcon House comprises of 1,945 square feet of high-quality modern first floor office space located on the Brackmills Industrial Estate. The property benefits from a large balconied meeting room, kitchen, W.C and shower facilities. It is available on a new lease at an asking rent of £26,000 per annum exclusive.
Returning to the market at a reduced price of £250,000 is the Oddfellows Hall in Buckingham. The Victorian assembly hall is currently a place of worship with a D1 use class, making it suitable for nurseries, training centres etc. The property may also be suitable for residential conversion subject to planning. It is located a short walk from the town centre and the University of Buckingham.
Finally, we have been asked to market a prime plot of open storage land at Finedon Sidings Industrial Estate – a secure, fenced facility near Wellingborough. The 0.33-acre plot which can include a cabin (by separate negotiation) is available to let at an asking rent of £20,000 per annum exclusive.
Find out more about these and other properties available through Hadland Chartered Surveyors by calling 01604 639657, or visit the website www.hadlands.co.uk