Mixed-use, residential-led redevelopment of former retail site
This project comprised the redevelopment of two single storey adjoining retail units, the adjoining car park and service yard in Sutton town centre. A number of scheme options were explored through feasibility testing with the project architects and technical team. A planning application was subsequently prepared and submitted to intensify the use of the site with new ground floor commercial and residential apartments above. Planning consent was obtained for a 7-storey residential-led development, comprising 46 apartments above a new ground floor Class E commercial unit. The site was sold above the guide price of £3.5m in July 2022.
Asset Management Highlights
- Non-core site formed part of a larger Client holding and comprised two poor quality, part vacant single storey retail units identified with the potential to expand vertically to enhance value.
- Planning consent for new development tripled existing floorspace accommodation.
- Ownership title split and Client retained their core High Street and residential holding.