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Edmonds Chambers 226-258 Marlowes Hemel Hempstead HP1 1BJ

A town centre permitted development opportunity for 26 flats with an additional 26 flats pending
Sold

Edmonds Chambers is the upper parts above a prominent retail parade which has historically served as a combination of office and ancillary accommodation to the units below. The proposed development will be independently accessed from the street via the current entrance and a proposed new one further down the parade. There are additional access points from the rear external stair cases.

  • Located in a prime position within the pedestrianised Marlowes –Hemel Hempstead’s main retailing destination
  • Hemel Hempstead is a popular commuter town within Hertfordshire with direct trains to London Euston within 27 minutes
  • The upper parts over the first and second floor have most recently been used as offices and ancillary accommodation to the retained retail units at ground floor. Access to them is direct from the High Street.
  • Total existing floor area is 15,505ft2
  • The upper parts benefit from six separate consents which allows for the conversion to 26 flats – 21 x Studios and 5 x 1 bed with a total proposed NIA of 10,336ft2
  • A class AA application for the “Construction of a two storey upwards extension…” was submitted in February 2023. If granted, the application will allow for the development of an additional 26 flats – 25 x 1 bed and 1 x 2 bed with a total proposed NIA of 11,466ft2.
  • Once completed, the entire scheme will provide 52 flats – 21 x studios, 30 x 1 bed and 1 x 2 bed with a total NIA of 21,802ft2.
  • We believe on completion, the scheme should generate a rent in the region of £725,000pa
  • Full vacant possession to be provided on completion
  • A structural survey is available on request
  • Freehold
  • VAT is not applicable
  • We are instructed to seek £1,300,000 Subject To Contract for the 26 unit conversion with an overage payable of £800,000 Subject To Contract and Planning for the additional 26 unit rooftop development.


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