30 September 2019
A significant development opportunity in Hastings is being brought to market that benefits from short term income and permitted development rights for 246 units.
Hastings is a prominent seaside town located on the south coast, approximately 55 miles to the south of London.
Ashdown House extends to 12.75 acres (5.16 hectares) with 34,831 sq ft (3,236 sq m) of ancillary uses and c.500 associated surface car parking spaces.
Currently let to the Secretary of State for Housing Communities and Local Government, the main office building is occupied by the Department for Work and Pensions until March 2021, using over 179,360 sq ft (16,633 sq m) of office space. Further leases across the site provide an additional passing rent until April 2021.
The existing 7-storey, 1960’s office building benefits from Prior Approval secured by Telereal Trillium to provide 246 studio, one and two-bedroom apartment units. The accommodation would be split over seven floors with a number of apartments on the upper floors benefitting from panoramic views across Hastings and the English Channel.
The scheme would also provide 210 car parking spaces along with 123 cycle parking spaces.
Award winning architects Gardner Stewart have produced indicative concept proposals for two residential redevelopment approaches, both of which are subject to securing necessary planning consents.
Hastings is rapidly emerging as one of the growth hotspots in the South East due to its improved connectivity to wider regions. Average house prices in Hastings have risen by 38.7% in the last 5 years and have outperformed the wider south eastern market by 17%.
Cushman & Wakefield have been instructed to seek unconditional offers for the freehold interest in this prominent site. For more information, please contact:
- D +44(0) 203 296 4037
- T +44(0) 7796 221 054
- E email@example.com
- D +44(0) 203 296 2734
- T +44(0) 7525 698 903
- E firstname.lastname@example.org
- D +44(0) 203 296 3246
- T +44(0) 7393 798 567
- E email@example.com