Ward Street

Guildford

VIEW ALL OUR TRANSACTIONS

Summary

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.

Business Case

Strengths

  • Guildford town centre location
  • Flat layouts work well across the floor plates
  • Existing retail income

Weaknesses

  • Tight site and entrance
  • Overlooking neighbours to the south

Opportunities

  • Renew retail lease to improve and extend income
  • Ability to add further floor area to the building with a roof extension

Threats

  • Softening housing market
  • Political uncertainty

Location

Top