Plot for sale
Key information
Property description & features
- Tenure: Freehold
- Unique Development Opportunity
- Iconic Art Deco Building
- Lapsed planning permission with scope for various commercial and residential development schemes
- Excellent Gross Profit Potential
Though the previous full planning permission has lapsed, the potential of this landmark remains unparalleled. Imagine transforming this architectural gem into opulent apartments and top-tier retail spaces, perfectly positioned along the bustling street.
The expired planning permission encompasses a visionary concept of 46 luxury apartments and two ground-floor retail units. The plan preserves and transforms the building's distinctive façade while ingeniously utilizing the available rear space for new construction, forming the bulk of this ambitious project. Comprehensive details are available on the Colchester Borough Council's planning portal under reference 151004.
In addition, an appeal has been initiated for a groundbreaking transformation - the demolition of the current structure to give rise to 48 apartments and two or three retail units. This redevelopment envisions a faithful recreation of the façade, paying homage to its original grandeur. The planning portal reference for this visionary endeavor is 202738.
Reach out to us to express your interest or to acquire complete project insights. Our estimations place the total Gross Development Value of the expired scheme at approximately £12.7 million. For a detailed breakdown of valuations, kindly get in touch with us directly or refer to the comprehensive details.
Places of interest
See more properties like this:
*DISCLAIMER
Property reference NEXTH_001210. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Next Home - Leyton.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on March 16, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.