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Station HQ Office SOLD for Permitted Residential Development

Station HQ Office SOLD for Permitted Residential Development

Monday, 31 October 2016

Whybrow and Savills have sold a major landmark Headquarter Office building with Permitted Development rights for 64 apartments adjacent to North Station, Colchester’s main line rail station which provides regular intercity links to London Liverpool Street to Crown House Homes for in excess of £5m.

 

Acting for major private clients, this three storey building formally occupied by Equity Insurance until September 2016 and extending to 49,350 sq ft (4,585sq.m) on a 1.8 acre (0.73 Hectares) site includes 175 car spaces, and is to see a new journey into the residential world following receipt of Permitted Development rights for a conversion to 64 units.

 

Ewan Dodds BSc FRICS, acting surveyor on the sale jointly with Tony Lockwood at Savills, commented “we have been privileged to be appointed on such a major landmark building in Colchester, and the extensive interest generated in competition from buyers is testament to both the tremendous opportunity the building provides and the appeal of Colchester as a major and growing regional centre. We are delighted that this sale has reached a successful conclusion and wish the buyer every success in their development plans”.

 

He continued to say “our client, a major investor in real estate in the UK is delighted with the outcome and we are sure that the market place and commuters will welcome the transformation of this building into a new and innovative residential use”.

 

If you have any queries about this prestigious sale, or would like professional advice on your property matters, please contact our experts at Whybrow on 01206 577667 option 1 or info@whybrow.net.

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