Festival House

39 Oxford Street, Newbury, Berkshire, RG14 1JG

2,575 sq ft
For Sale
Offices, Development

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Grade II Listed four story office building with planning for conversion to residential use available for sale in Newbury

Property Type Offices, Development
Tenure For Sale
Size 2,575 sq ft
Freehold Price Price On Application
Energy Performance Rating This property has been graded as 95 D

Key Features

  • Conditional and unconditional offers invited
  • Suitable for immediate office use
  • Planning permission to convert to 4 no. 2 bedroom flats
  • Planning permission to convert to a single residential dwelling
  • 14 car parking spaces
  • Walking distance to Newbury Railway Station
  • Freehold with Vacant Possession obtainable

Location

The property is situated in a prominent position on the southern side of Oxford Street, in a mixed use location within the popular and sought after town of Newbury, Berkshire. The surrounding properties include a mixture of residential dwellings, offices, retail units and a medical centre.

The property lies within easy walking distance of many local amenities including shops, restaurants, schools and Newbury Railway Station. Newbury town centre with its multiple facilities lies approximately 0.2 miles to the south and the popular Newbury Racecourse lies 1.3 miles to the south east.

The A4 and Junction 13 of the M4 motorway lie approximately 0.3 miles and 3.5 miles to the north respectively.

We would refer you to the location plan within the particulars of sale for further information.

Description

A copy of an Ordnance Survey Extract Plan within the particulars of sale shows the approximate boundaries of the property edged in red. 

The property comprises a generally level, almost rectangular shaped site which includes an end of terrace Grade II Listed office building and associated car parking.

The building is planned over four storeys plus a small basement and is of Georgian town house design with sash windows and other period features. It was built in the early 19th century and has since been extended, most significantly with a three storey extension in 1981. It provides office accommodation throughout of approximately 239.2 sq. m. (2,575 sq. ft.) (IPMS3).

The Gross Internal Area of the building is approximately 305.0 sq. m. (3,283 sq. ft.).

The specification of the office accommodation includes air conditioning on each floor (for each of the south facing suites), gas central heating, fibre optic broadband, fluorescent lighting and carpeted floors. 

The property is bordered by a large single residential dwelling at its eastern boundary, car parking at its southern boundary, a medical centre at its western boundary and Old Bath Road at its northern boundary.

The total site area is approximately 0.05 hectares (0.13 acres).

We would refer you to the photographs of the property for further information.

Tenure

The property is currently operated as serviced offices producing c. £3,500 per calendar month. Potential purchasers may have the ability to inherit the current tenants in situ and benefit from the asset being immediately income producing. Alternatively, vacant possession can be obtainable within 2-3 months notice.

The property will be sold freehold.

Rating

The property lies within the administrative authority of West Berkshire Council (the Rating Authority) and is shown in the Valuation List as having a combined Rateable Value of £27,625. Please note this figure combines 9 separate rating assessments as each individual office suite has been assessed separately. Purchasers are advised that the Rateable Value of the building would need to be reassessed if the configuration of the building is changed whilst remaining in commercial use.

The property will qualify for empty buildings relief should it become vacant, due to its listed status.

VAT

We understand that the property is not elected for VAT.

Services

We are advised that mains electricity, gas, water and drainage services are available in the vicinity for connection to the site. However, prospective purchasers are advised to make their own independent enquiries of the individual authorities to verify the capacity and availability of such services.

Planning

The permitted use of the property is currently B1a (Offices).

The property is Grade II listed and located within a conservation area.

The property was granted planning permission on the 28th October 2017 for the “change of use of existing building in office use to residential use (4 no. 2 bed flats).” (Application Reference: 17/02166/FULD). All reports, drawings and documents relating to the above planning application are included in the Technical Information Pack and their copyrights/warranties will be assigned to the purchaser upon completion of the sale.

The property was granted planning permission on the 24th March 2017 for the “change of use of existing building from B1 office use to C3 residential use (single residential dwelling).” (Application Reference: 17/00162/FULD). All reports, drawings and documents relating to the above planning application are included in the Technical Information Pack and their copyrights/warranties will be assigned to the purchaser upon completion of the sale.

Any planning related queries should be directed to the Local Planning Authority; West Berkshire Council.

Method of Sale

The site is offered for sale by way of informal, non-binding tender with the vendor reserving the right not to accept the highest or any offer and also reserving the right to withdraw the site from sale or to vary the method of sale at any time without notice.

For full details of the method of sale please refer to the Particulars of Sale.

Technical Information Pack

A copy of the Technical Information Pack can be obtained on application from Haslams Surveyors LLP. Please call 0118 921 1500 for access details.

1. Land Registry Freehold Title and Title Plan
2. Application 17/02166/FULD – Planning Documents
3. Application 17/00162/FULD – Planning Documents
4. EPC Certificate and Recommendation Report

Viewing And All Other Enquiries

All enquiries should be directed to the vendor’s sole agent Haslams Surveyors LLP.

Viewings of the property are strictly by appointment only.

Access onto the property during viewings will be available via the car park accessed at the rear from Strawberry Hill.

Please note that parties must not enter the property without our prior authority and any inspection of the site is at the prospective purchaser’s risk.