Symbio Place

FOR SALE BY ORDER OF FIXED CHARGE RECEIVERS

SYMBIO PLACE

WHITELEAF ROAD, HEMEL HEMPSTEAD HP3 9PH FREEHOLD DEVELOPMENT OPPORTUNITY WHITELEAF ROAD, HEMEL HEMPSTEAD HP3 9PH SYMBIO PLACE FREEHOLD DEVELOPMENT OPPORTUNITY

EXECUTIVE SUMMARY

. Freehold residential development opportunity . Located within the Two Waters regeneration area . Existing 0.218 hectares (0.538 acres) site comprises a part demolished four storey former B1 office of 1,142.7 sq m (12,300 sq ft) . Planning consent for the demolition of existing property and erection of sixteen storey building . The scheme proposes 272 residential apartments totalling 15,189.9 sq m (163,504 sq ft) NSA plus 1,983.64 sq m (21,352 sq ft) of commercial and amenity space . 100% private scheme . Offered with the benefit of vacant possession

CGI for illustration purposes only. WHITELEAF ROAD, HEMEL HEMPSTEAD HP3 9PH SYMBIO PLACE FREEHOLD DEVELOPMENT OPPORTUNITY

TOWN CENTRE SYMBIO PLACE

<< HEMEL HEMPSTEAD RAILWAY STATION

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D OA L WHITELEAF ROAD, HEMEL HEMPSTEAD HP3 9PH WARNERS END R O Keen Fields

FREEHOLD DEVELOPMENT OPPORTUNITY SYMBIO PLACE

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Harrow O S LO O A10 A127 A E Ruislip Romford J29 Basildon A130 A A404 A J16 A12 4 Wembley Holloway 1 O BE Benfleet L S Uxbridge Stratford W A40 M25 A Slough A IN S L M4 A13 A J15 N LONDON E Windsor Heathrow Clapham A20 Richmond Dartford A316 Staines Gravesend J2 A23 A20 A309 Bromley A2 J12 LOCATION MILTON KEYNES CONNECTIVITY A322 Croydon J3 Weybridge A24The site is situated within Dacorum Borough in Hertfordshire, The location benefits from excellent transport links. M3 A232 to the south west side of Hemel Hempstead town centre. M2 Hemel Hempstead is a well-established commuter WhiteleafSutton Road is located in an area known asA21 Two Waters,M25 M20 HEMEL HEMPSTEAD town with direct train services to London Euston A243 positioned in between Hemel Hempstead (0.8 miles) and in just 25 minutes and services to the Midlands Apsley (0.9 miles) train stations. Snodland including Milton Keynes Central (27 minutes) and J10 Woking A217 Northampton (47 minutes). Two waters A23is an area of approximatelyBiggin 124 Hill hectares located M20 J9 on the southern edge of Hemel Hempstead. There is a J5 M26 APSLEY By car the town is approximately 21 miles from varied mix of land uses in the area including residential, Sevenoaks Central London and the site is easily accessible from A331 M25 light industrial, retail and community uses together with large the M1 to the east and M25 to the south. valuableJ8 recreationalJ7 spaces.J6 The site itself is bounded by AldiA21 Maidstone Local bus services into Hemel Hempstead and to Supermarket to the north and east,Oxted Arriva depot to the south WATFORD JUNCTION A3 Guildford Apsley train station can be accessed from Two Water and Whiteleaf Road to the west. Dorking Redhill Way less than 200 metres from the property as well A26 The site benefits from views over the green open space as routes into Aylesbury and Watford. A31 A24 stretching across Two Waters to both the north and the south, Luton Airport (10.8 miles away), is accessible by car which offers a mix of semi rural farmland for grazing animals, HARROW & WEALDSTONE PADDINGTON M23 A22 (15 minutes) and via National Express bus service parkland and leisure facilities such as Heath Park and the Horley (25 minutes) from Hemel Hempstead. Hemel Hempstead Cricket Club. The variety of open space Royal Gatwickcreates valuable amenity for the local community. Tunbridge Wells WEMBLEY CENTRAL A229 Crawley East Grinstead A21 A264 A26 LONDON EUSTON Horsham

A22 A24 A23 Haywards Heath WHITELEAF ROAD, HEMEL HEMPSTEAD HP3 9PH SYMBIO PLACE FREEHOLD DEVELOPMENT OPPORTUNITY

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N M O N N RING S P D U IDM S A W L SMB VE L TH S Y D DR A Dixons R IDE NE TANNSFIEL . BOUN A B DARY WA LA PLAE S Y L W R DESCRIPTION D L I A S E

H N D N R O ELLINGHAM ROAD Y WA O EE A WOOD L L The site comprises a broadly rectangular parcel of land W U ANE EN Q Y D HALES Y approximately 0.218 hectares (0.538 acres). It is accessed D N MA Woodwells D E via Whiteleaf Road close to its junction with London Road. G E A R NE O E Cemetery R A A LANE PAR AN K L S T D W Presently the property is a four storey building comprising

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D F G 1,142.7 sq m (12,300 sq ft) of former office accommodation A D EE

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T IELD ASON R S O E R CL G and 36 car spaces.

S L D R N L E . A W D N S O L N D D HA S E OA ROAD The building has been stripped back to the frame. The site is I R R D R F D E U R. D N

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S W REET A OA AN ST R SE T AY OF W IGH ALB A414 LE CR O LEEST ST IT BUR CHELSING RI R LANE W E RS T N E EEN LA K E A K KM E A IC N C B R LA LE N N A VENU IL ASID P A E K E R E IL Leather A T T M 1 L L E CL. H E Bottle PH E RE D S 0m 10m 20m 30 m WHITELEAF ROAD, HEMEL HEMPSTEAD HP3 9PH SYMBIO PLACE FREEHOLD DEVELOPMENT OPPORTUNITY

PLANNING The property is situated within Dacorum Borough Council. There have been a variety of planning consents on the site including change of use of the existing building from office to residential in 2014 through to full planning consent for complete residential led redevelopment. IN JULY 2016, PLANNING PERMISSION (REF: 4/03441/15/MFA) WAS GRANTED FOR: ‘Demoliton and replacement of a 4 storey office building with 16 storey residential development. Featuring 272 apartments, on site gym and leisure facilities, on-site coffee shop, roof garden, internal Arboretum, function room and underground parking facilities for 313 cars in automatic car parking system with on-site electric car share and electric bike share scheme’

An amended planning application was submitted on 14th September 2017, proposing a 17 storey scheme, increasing the number of flats to 305 units providing a net saleable area of 16,706.5 sq m (179,828.77 sq ft) (Ref; 4/02368/17/MOA). However, the application currently remains undecided.

COMMUNITY INFRASTRUCTURE LEVY (CIL) & S106 The development will be subject to Dacorum Borough CIL which we understand the council have calculated to be £3,167,683 (£100 per sq m) for the consented scheme.

The Section 106 agreement requires a payment in lieu of affordable housing which equates to £2,155,213.

LOCAL PLANNING AUTHORITY We understand the property is not listed, nor is it situated within a Conservation Area. Dacorum Borough website: http://www.dacorum.gov.uk/

CONSENTED SCHEME The proposed residential accommodation comprises 272 apartments (12 x studios, 119 x 1 bedroom, 115 x 2 bedroom, 26 x 3 bedroom apartments) providing 15,189.9 sq m (163,504 sq ft) NSA of residential accommodation.

In addition, the planning application proposes various commercial and amenity spaces totalling 1,983.64 sq m (21,351.90 sq ft). These include a resident’s gym, café, communal roof terrace, internal arboretum, function room, and an electric car and bike scheme.

The plans provide for 313 car parking spaces, incorporating an electric car and bike scheme.

Unit No Sq m Sq ft

Studio 12 301.0 3,240

1 Bed 119 5,262.4 56,644

2 Bed 115 7,382.5 79,465

3 Bed 26 2,244.0 24,154

Total 272 15,189.9 163,503

*NB The net saleable areas summarised do not include balcony space but do include the winter garden space which forms part of the flats on the 13th floor only.

CGI for illustration purposes only. WHITELEAF ROAD, HEMEL HEMPSTEAD HP3 9PH SYMBIO PLACE FREEHOLD DEVELOPMENT OPPORTUNITY

Subject site

REGENERATION The Two Waters area is anchored to the west by Hemel Hempstead encouraging investment and development of the existing railway station, in the east by Apsley railway station and to the north brownfield sites for higher density schemes. by Magic Roundabout on the southern edge of the town centre. The area is the Gateway to Hemel Hempstead and the There is currently an eclectic mix of land uses and the Council regeneration includes plans for a new and improved Hemel have identified that this mix of living, working and open space has Hempstead train station with the thriving commercial offering to the potential to create a vital and vibrant neighbourhood on the include a hotel and office space as well as excellent opportunities Southern edge of Hemel Hempstead town centre. for shopping and leisure amenities. The area has therefore been allocated by the council as a The site is allocated for development and the consented schemes regeneration zone to comprise of mixed use development over to date have established the density and envelope for the sites various land holdings in the coming years. The Draft Masterplan development, providing an opportunity to create a new enhanced was issued by Dacorum Borough Council in June 2017 and has scheme in excess of 300 units subject to the necessary consents. identified several sites for future re-development. The precedent for a tall building has been set through the FURTHER DEVELOPMENT POTENTIAL existing planning consent granted on-site for 16 storeys in 2016. The approved scheme firmly establishes the principle of the The site represents an excellent residential or mixed use redevelopment of the site and the potential scale and massing development opportunity given the existing consent and being achievable, should an alternative scheme be pursued. situated within the Two Waters Draft Masterplan 2017. The Masterplan forms part of the Local Plan Review anticipated in The scale achieved on-site is not out of character with the existing 2019 and it is envisaged that the document will be adopted as a skyline due to the presence of buildings of similar size and larger, planning statement and then adopted as an SPD. in particular the Kodak building, which exists as a landmark feature within the surrounding townscape. These planning policy initiatives are proposed to instigate the comprehensive redevelopment of the surrounding area

CGI for illustration purposes only. SYMBIO PLACE

VAT

The property is elected for VAT

FURTHER INFORMATION

For access to the dataroom please email [email protected] ASKING PRICE The following information is availble to download: • Title Documents Offers in excess of £8,500,000 (Eight Million, • Existing, Proposed and Consented Scheme Plans Five Hundred Thousand Pounds) are invited • S106 Agreement • Accommodation Schedule for the Freehold interest, subject to contract.

CONTACTS

Please contact Allsop to register your interest:

Andrew Boyd Anthony Dixon Richard How Victoria Barron 0207 344 2609 020 7344 2625 020 7344 2652 020 7344 2636 [email protected] [email protected] [email protected] [email protected] www.allsop.co.uk

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk June 18