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FOR SALE Prominent Central Area Residential Development Opportunity
Dowty House St Margaret’s Road Cheltenham GL50 4EQ Landmark building with planning consent for a high quality refurbishment and new build - 28 apartments totalling 20,872 sq ft (1,939 sq m)
Dowty House, St Margaret’s Road, Cheltenham, GL50 4EQ
Location
The Property is situated fronting St Margaret’s Road in the section between Monson Avenue, North Place car park (major central area development site) and Northfield Passage. Directly opposite the Property is the recently extended retail and leisure scheme, The Brewery Quarter.
Description
The Property comprises a prominent and substantial two storey period building dating from circa 1866. The building was most recently used as a care home.
The consented scheme comprises 7 apartments within the original building and 21 apartments in a contemporary style new build block. The majority of the new build upper level apartments have been designed with balconies or a roof terrace. A schedule of accommodation is attached.
Externally there will be up to 8 on site car parking spaces and cycle storage facilities. The Property is situated on an approximate site area of 0.2 hectares (0.495 acres).
Development Proposal/Planning
The Property benefits from planning approval “Conversion and extension of building to create 28 no. apartments (5 one bed and 23 two bed) following demolition of existing rear extensions” - (ref 18/01973FUL).
The Section 106 dated 21 December 2018 confirms the following financial contributions:
£91,113 - Affordable Housing (indexed)
£57,331 - Tree planting and maintenance (indexed)
Cheltenham Borough Council’s planning website confirms the Property is subject to a Local Listing.
The planning consent was granted prior to the introduction of CIL.
Information Pack
Additional information including planning consent, Section 106, scheme drawings and surveys are available in pdf format.
Services
We are advised that all main services are connected or available. We have not tested the service installations and interested parties are invited to satisfy themselves as to the availability and cost of upgrading any service connections. Terms
Sale of the freehold interest with vacant possession on completion. Guide Price
Offers in excess of £2,000,000. The purchaser to be responsible for all Section 106 financial contributions.
Dowty House, St Margaret’s Road, Cheltenham, GL50 4EQ
Method of Sale
Details relating to the method of sale will be confirmed during the marketing period.
Legal Costs
Each party is to be responsible for their own legal costs incurred in the transaction. Energy Performance Certificate
The Energy Performance Certificate rating is C (62)
(August 2018). The full certificate and recommendations
can be provided on request.
Council Tax
The Valuation Office Agency Website confirms a Band G
assessment. Interested parties are advised to make their
own enquiries of the Local Billing Authority, Cheltenham
Borough Council.
Asbestos Regulations
It is the responsibility of the owner or tenant of the property, and anyone else who has control over it and/or responsibility for maintaining it to comply with the Control of Asbestos Regulations 2012 (CAR 2012). The detection of asbestos and asbestos-related compounds is beyond the scope of Alder King and accordingly we recommend you obtain advice from a specialist source. VAT
Under the Finance Acts 1989 and 1997, VAT may be levied on the sale price. We recommend that the prospective purchaser establish the implications before entering into any agreement.
Subject to Contract
Alder King LLP is a Limited Liability Partnership registered in England and Wales. No OC306796. Registered Office: Pembroke House, 15 Pembroke Road, Clifton, Bristol, BS8 3BA. A list of all Members is available at the registered office. Important Notice
These particulars do not constitute any offer of contract and although they are believed to be correct, their accuracy cannot be guaranteed and they are expressly excluded from any contract. Viewing Arrangements
For further information or to arrange an inspection, please contact the sole agent. Alder King Property Consultants
Brunswick House Gloucester Business Park Gloucester GL3 4AA
www.alderking.com
Philip Pratt
01452 627123
Ref: PJP/SA/N90534
Date: May 2019
Dowty House, St Margaret’s Road, Cheltenham, GL50 4EQ
Conversion:
Note: (D) Duplex (B) Balcony (C) Roof Terrace Note: All areas are approximate Gross Internal as confirmed by the Stanley Partnership (01242 242943) . All information shall be verified prior to purchase.
New Build Plot:
Area - Existing Sq m Sq ft
No 1 Ground Floor 2 Bed 95.04 1023
No 2 Ground Floor 2 Bed 69.12 744
No 3 Ground Floor 2 Bed 55.83 601
No 9 First Floor 2 Bed (D) 79.52 856
No 10 First Floor 2 Bed (D) 75.99 818
No 11 First Floor 2 Bed 69.40 747
No 12 First Floor 1 Bed (D) 60.29 649
Apartment—Proposed Sq m Sq ft
No 4 Ground Floor 1 Bed 55.00 592
No 5 Ground Floor 2 Bed 74.88 806
No 6 Ground Floor 2 Bed 74.88 806
No 7 Ground Floor 2 Bed 74.88 806
No 8 Ground Floor 2 Bed 74.32 800
No 13 First Floor 1 Bed (B) 52.68 567
No 14 First Floor 2 Bed (B) 74.88 806
No 15 First Floor 1 Bed (B) 44.31 477
No 16 First Floor 2 Bed (B) 74.88 806
No 17 First Floor 2 Bed (B) 74.88 806
No 18 First Floor 2 Bed (B) 74.32 800
No 19 Second Floor 1 Bed (B) 52.67 567
No 20 Second Floor 2 Bed (B) 74.88 806
No 21 Second Floor 1 Bed (B) 44.31 477
No 22 Second Floor 2 Bed (B) 74.88 806
No 23 Second Floor 2 Bed (B) 74.88 806
No 24 Second Floor 2 Bed (B) 74.32 800
No 25 Third Floor 2 Bed (RT) 94.48 1017
No 26 Third Floor 1 Bed 44.31 477
No 27 Third Floor 2 Bed 74.88 806
No 28 Third Floor 2 Bed 74.32 800
Dowty House, St Margaret’s Road, Cheltenham, GL50 4EQ
ELEVATIONS
Dowty House, St Margaret’s Road, Cheltenham, GL50 4EQ
GROUND FLOOR PLAN
SECOND FLOOR PLAN
FLOOR PLANS
FIRST FLOOR PLAN
THIRD FLOOR PLAN