Chesham House, Romford, London, RM7

*Substantial MULTI-LEVEL, MIXED-USE LIGHT INDUSTRIAL (USE CLASS E) property.*

Situated in Romford, within the London Borough of Havering, that holds a strategic position as a
gateway between London and Essex, conveniently close to the A12, providing swift access to central London and the M25.

Located within the Romford Strategic Development Area (SDA), which is earmarked
for major residential-led regeneration in the current Local Plan.

The property provides a total gross internal area (GIA) of 33,946 sq. ft. with a site area spanning
0.63 acres or 0.254 hectares.

Freehold.

Offers in excess of £3,000,000 (Three Million Pounds) subject to contract for the freehold interest reflecting a low capital value of £88 per sq.ft.

Description

The property is a detached light industrial building spanning three floors, with a total floor area of around 33,946 sq. ft (GIA), and 32,697 sq. ft (NIA). The site itself covers approximately 0.63 acres. Currently, the ground floor serves as a showroom and storage area, the first floor is utilized for warehousing, and the second floor houses office facilities. Access to all three levels is provided by a goods lift, while the first floor can also be reached by forklift through an elevated loading door. Additionally, parking spaces are available at the front and side of the property.
The property is categorized as E-Class Use, formerly designated as light industrial/B1, and offers versatility for various potential uses.

Planning and Development Potential

The property is granted Use Class E consent (formerly B1/ light industrial), allowing for a diverse range of potential uses.

Located within the Romford Strategic Development Area (SDA), the site is designated for significant residential-led regeneration in the current Local Plan. Detailed information can be found in the Local Plan, which outlines it's intention to deliver over 6,000 new homes within the zone. The neighbouring site to the south features a current project of 66-apartments, 8-storey building, set to PC in March 2024.

A feasibility study has been conducted for the demolition of the existing structure, proposing the redevelopment of the site to accommodate 72 residential units (Class C3) in two buildings varying in height from part-5, part-6, to part-7 storeys.

The property presents an opportunity for residential conversion through permitted development rights. Plans have been drawn up for residential conversion to provide 46
apartments. Plans are available upon request. Planning was granted on the land to the east of our site (Brooklands Approach) for redevelopment, providing 67 apartments. More information is available upon request.