84-100, Park Street

Camberley, GU15 3NY

19,700 sq ft
For Sale
Development (Land & Buildings) / Investment Property / Offices / Retail

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Prime town centre development opportunity with consent for residential development. Currently fully let as an investment.

Property Type Development (Land & Buildings) / Investment Property / Offices / Retail
Tenure For Sale
Size 19,700 sq ft
Business Rates n/a
Energy Performance Rating Upon enquiry

Key Features

  • Prime town centre site of approx. 1 acre adjacent to Camberley shopping centre and the main railway station.
  • 5 existing commercial buildings combined with a total area of approx. 19,700 sq ft.
  • Suitable for comprehensive redevelopment for residential, commercial, or alternative uses subject to planning.
  • Currently fully let with an income of £181,924, with the leases up to Jan 2023.
  • The site benefits from a detailed planning consent for a new development comprising 61 sheltered apartments, ( 28 x 1 bed and 33 x 2 bed), being up to 6 floors in height. Total gross Int. area 5,895 sq m (63,460 sq ft).
  • Site frontage of circa 67 m (220 ft ) to Park Street.
  • Freehold

Location

The site sits in a highly prominent and visual location adjacent to Camberley’s main shopping centre. Camberley, in the borough of Surrey Heath, is one of the dominant shopping centres in Surrey. The town is some 31 miles south west of London and just 16 miles from Heathrow airport. The M3 motorway is only a 7 min drive away.

The site adjoins both The Square shopping centre which offers just 500,000 sq.ft of prime retail space and The atrium which offers a variety of top name stores, restaurants, a cinema, bowling and a gym. There are over 1,000 public car parking spaces and the main line station close to the site.

Available area

The accommodation comprises of the following

NameSq ftSq mAvailability
Building - whole site 43,560 4,046.86 Available
Total43,5604,046.86 

Description

Nos 84 to 100 Park Street comprise 4 detached commercial buildings ranging in height from 1 to 2 storeys. The current permitted uses are as (class E use) offices, retail and (class B8 use) storage.

• No 84 -88 Park Street (closest to the shopping centre) is a single storey retail unit of approx. 2,990 sq ft let to Majestic Wine Warehouses Ltd.
• No 90 Park Street is a 2-storey office/commercial building of approx. 5,895 sq ft let to Waterfords (Estates agents) Ltd.
• No 92 Park Street is a 2-storey office building of approx. 1,695 sq ft let to butt Miller Ltd (accountants).
• 5 garage/storage units known as Stoneyard Works having a combined total area of approx. 2,795 sq ft.
• No 100 Park Street (adjacent to the railway line) is a 2- storey office building of approx. 6,325 sq ft let to Videocall Ltd.

Viewings

Strictly only by prior arrangement through the selling agents Hurst Warne.

Terms

Freehold for sale subject to and with the benefit of the leases and income as set out in the sales details.

Offers invited in the region of £5,250,000 ( five million two hundred and fifty thousand pounds) subject to contract.

Offers subject to planning may be considered.

Planning

The site falls within the Local Planning authority of Surrey Heath Borough Council. The site located within Camberley Town centre as identified in the Local Plan. The current permitted uses on the site are a mix of employment uses within class E being Retail and, offices with a small amount of class b8 use being storage.

In July 2018 a third party (being Renaissance Retirement Ltd) submitted a planning application for the redevelopment of the whole site for a 61 sheltered apartments scheme. Planning permission was granted at appeal in May 2020 for the demolition of all existing buildings on the site and the erection of a part 6 storey, part 5 storey building to comprise 61 sheltered apartments, made up of 28 x 1 bed and 33 x 2 bed apartments, with associated access, parking, stores and landscaping. This appeal states the development permitted shall begin not later than 3 years from 23rd May 2023.

The planning reference is 18/0613 and full documents can be seen online:
https://publicaccess.surreyheath.gov.uk