124-130 Worplesdon Road

Guildford

Acquired from an off shore vendor, the property had an extant planning consent for the erection of a new retail unit of c. 3,000 sqft, 14 new build apartments and the refurbishment of the upper parts of 128 Worplesdon Road into 2 apartments.

Alongside the development of the site for J Sainsbury’s and Ladbrokes, BHP constructed the new build residential element totalling 14 units together with the comprehensive refurbishment of 2 apartments above the Ladbrokes.

STRENGTHS

  • Part income producing
  • Existing consent for retail and residential
  • No social housing content

OPPORTUNITIES

  • To undertake a new development of residential without any social housing contribution
  • To improve the internal layouts of the extant planning consent

WEAKNESSES

  • Residential element could only be constructed in same phase as the retail
  • Clearance of site included removal of redundant petrol tanks
  • Utility capacity marginal

Threats

  • Successful implementation of the planning consent prior to its expiry
  • Requirement to access neighbours' gardens for the construction phase