Offers over
£2,950,000
(£145.69/sq. ft)
Land for saleIndigo House, Fishponds Road, Wokingham, Berkshire RG41
20,248 sq. ft
About this property
Substantial freehold development opportunity in Wokingham
Resolution to grant detailed planning permission for 72 apartments, subject to completion of the S106 Agreement
Separate Class ma Prior Approval for conversion to 32 residential apartments
Flexible opportunity – develop the 72-unit scheme, implement the 32-unit conversion or retain the existing commercial building
Mix of one and two-bedroom apartments within the proposed residential scheme
Potential for alternative uses including care, healthcare and other commercial uses, subject to the necessary consents
Located within Mulberry Business Park, close to Wokingham town centre and railway station
Wokingham consistently ranks highly for quality of life and is one of Berkshire's most desirable locations
Freehold with vacant possession
Indigo House, Mulberry Business Park, Wokingham, RG41 2GY
substantial freehold development & investment opportunity
planning for 72 apartments | 32-unit class ma prior approval | existing commercial building
We are pleased to offer for sale Indigo House, a substantial freehold property offering a range of residential development, investment and alternative-use opportunities in Wokingham.
The property benefits from a resolution to grant detailed planning permission, subject to completion of the Section 106 Agreement, for a comprehensive 72-apartment residential scheme, incorporating the conversion and extension of the existing building together with the addition of two new storeys.
Separately, the property benefits from Class ma Prior Approval for the conversion of the existing office accommodation to provide 32 residential apartments, offering a purchaser an alternative development route.
Importantly, the property is being sold freehold in its existing form and a purchaser is not restricted to implementing either residential scheme. The existing commercial building provides the opportunity for continued commercial use or the exploration of alternative uses and redevelopment opportunities, including potentially care, healthcare, retail, serviced accommodation or other commercial uses, subject to the necessary planning and statutory consents.
Planning & Development Potential
The principal residential scheme provides for 72 apartments across the retained building and proposed additional floors, comprising a mix of one and two-bedroom accommodation.
The planning application has been approved subject to completion of the Section 106 Agreement, which is currently being progressed.
In addition, Class ma Prior Approval has been granted for 32 apartments within the existing building.
The property therefore provides an incoming purchaser with considerable flexibility to consider:
- Implementing the 72-apartment residential development;
- Progressing the 32-apartment Class ma conversion;
- Retaining the existing commercial building; or
- Exploring alternative commercial, care or other development uses, subject to the necessary consents.
Location
Indigo House is situated within Mulberry Business Park, Wokingham, benefiting from convenient access to Wokingham town centre, railway station and the wider Thames Valley.
Wokingham is an affluent and highly regarded Berkshire market town which consistently performs strongly in national quality-of-life measures. Recent research ranked Wokingham fourth nationally among English local authority districts as a place to grow old, with the area performing particularly strongly for low crime, low poverty and life expectancy.
Separate recent research has also identified Wokingham as having an average life expectancy of approximately 84 years, among the highest in England.
The borough also benefits from highly regarded schools and has seen significant investment in Wokingham town centre, further enhancing its appeal to families, professionals and older residents.
Wokingham provides excellent connectivity to Reading, Bracknell and the wider Thames Valley employment market. Wokingham railway station provides services towards Reading and London Waterloo, while the A329(M) provides convenient access to the M4 and wider motorway network.
A Flexible Acquisition Opportunity
Indigo House represents considerably more than a single consented residential development.
The combination of the existing substantial commercial building, 32-unit Class ma Prior Approval and the larger 72-unit residential scheme provides purchasers with the ability to assess a number of different development and investment strategies from a single freehold acquisition.
The opportunity may therefore be of interest to residential developers, office-to-residential specialists, investors, build-to-rent operators, care operators and other specialist property companies.
Further Information
A comprehensive data room containing the available planning documentation, drawings, accommodation schedules and supporting information is available to seriously interested parties upon request.
Tenure: Freehold
Viewing: Strictly by appointment
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