Town Centre Redevelopment Opportunity
Constructed in the 1960’s, Terminus House is a prominent 9-storey office building within Harlow town centre extending to approximately 48,320sq.ft. and set above a multi-storey car park providing 875 spaces.
The entire property produces an annual rent income of circa £339,000 and there is a pending Prior Approval application to convert the office space to 90 residential units under Permitted Development Rights. Furthermore, there is potential for comprehensive residential or mixed-use redevelopment (given the large site area) subject to planning permission.
Harlow is a large town on the border of Essex and Hertfordshire approximately 17 miles north east of Central London, with a population of circa 80,000. Residential values have historically been low, although there has been significant growth recently due to the area’s excellent transport links (M11 and M25 motorways and direct train links to Liverpool Street), as well as its proximity to sought-after towns including Hertford, Bishop’s Stortford, Epping and Loughton. Harlow has an extremely popular town centre offering a wide range of amenities and remains a strong location for commercial activities.
The property should appeal to a wide range of operators, including private residential developers, funds and PRS operators, as well as those looking retain the existing commercial uses and explore the reversionary rent increase potential.
Offers are invited in excess of £9,000,000 for the entire freehold interest, or £7,000,000 for a 999 year virtual freehold of the office building alone.
To discuss any aspects of the sale of this property please contact firstname.lastname@example.org or 020 7183 2529.
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