Acquired as offices with vacant possession and a retail unit on the ground floor. A full planning permission was obtained for an office to residential conversion using permitted development rights along with a separate application dealing with external changes.
The conversion works started under a design and build contract in early 2019 using a known contractor off the back of a competitive tender. Delivery will be towards the end of 2019 and the flats will be marketing on practical completion of the scheme.
- Guildford town centre location
- Flat layouts work well across the floor plates
- Existing retail income
- Tight site and entrance
- Overlooking neighbours to the south
- Renew retail lease to improve and extend income
- Ability to add further floor area to the building with a roof extension
- Softening housing market
- Political uncertainty