Greyfriars, Bedford

Description

**FREEHOLD FOR SALE BY INFORMAL TENDER**

This consented residential development site, measuring c1.2 acres, with vacant office and ancillary buildings is offered for sale by Informal Tender and comprises the redundant six storey former police station and adjacent current Highway land, with outline planning consent for demolition of the existing buildings and new residential development to provide up to 105 residential units (apartments) and 850 sq. m of commercial / business use. The site is available on a conditional or unconditional basis.

THE SITE

Former Police Building

Comprises a 6-storey main office building (with basement) that expands at ground level to provide detention, storage, gym and garage facilities. The approximate total building area (gross internal) extends to 38,981 sq. ft (3,621 sq. m). (red land highlighted on the s106 plan shown).

Highway Land

Bedford Borough Council are proposing a highway improvement scheme that will make available additional land to the front of the building which will be incorporated into the development site. B.B.C. are proposing to implement this scheme this year (blue land highlighted on the s106 plan shown).

Location

The site is located on Greyfriars adjacent to the bus station in Bedford town centre in close proximity to all central amenities.

Bedford benefits from excellent transport links, with Bedford main Railway station being a short walk, offering a fast (40 minutes) and regular service to London St Pancras. Bedford bus station is opposite the site.

The M1 and A1(M) motorways are circa 12 miles to the west and 9 miles to the east respectively. The A421 Bedford bypass offers access to both motorways, Cambridge and Milton Keynes.

Planning & Technical Information

Planning documentation, section s106, and technical information is available in a Dropbox, access details will be provided to all interested parties on request. The Dropbox also contains the Bedford Town Centre Development Plan / Investment Plan detailing potential future redevelopment proposals in the surrounding area.

Outline Planning Permission ref 20/00140/MAO subject to a planning obligation was granted 19th April 2023. The Outline application (all matters reserved except access) was for the demolition of the former Greyfriars Police Station and ancillary buildings and redevelopment to provide up to 105 residential units (Use Class C3), incorporating up to 850 sqm ground floor flexible commercial, business and service uses (Use Class E) realignment of the Greyfriars junction and incidental highway improvement works, ancillary amenity and greenspace, site access and car parking.

Note: We believe that the indicative scheme will need to be slightly amended to fit within the currently proposed boundary, which has altered since the scheme was prepared.

There was also an historic planning consent (now expired), ref 19/0155/MAF dated 28th November 2019, for partial demolition, refurbishment and change of use of the existing building to 23 flats and one retail unit.

The completed s106 agreement dated 31st March 2023 addresses the transfer of the redundant highway land, provision of affordable housing and financial contributions required towards highway works, healthcare, play, education and sports.

Community Infrastructure Levy

For residential units (excluding affordable), the current charge payable is £186.25 m2 including indexation. The chargeable rate for retail units, totalling over 280 m2, is £178.80 m2 ‘net’ including indexation.

Approved scheme

The approved scheme was prepared by Be1 Architects (now rebranded as CASS Architects, part of DLP Consulting Group), who will be happy to discuss the proposals with interested parties and quote for Reserved Matters application works. Please contact: Andrew Parry on 01234 832740 email: andrew.parry@dlpconsultants.co.uk

Sales Values

Compass–Elevation would be pleased to assist interested parties with market values for unit types proposed.

Parking

On the indicative scheme there are 21 Parking spaces at ground level (14 for business use and 7 for residential use (3 disabled 4 standard). There are a further 102 car parking spaces at basement level (95 Standard and 7 disabled).

Demolition and asbestos removal

The existing buildings are to be demolished by the purchaser. Budget costs for demolition and asbestos removal have been received from local company Jackson Demolition and Environmental Services, copies of these are available on request. Details relating to asbestos are contained in the Dropbox.

Services

All services are assumed to be available but prospective purchasers must satisfy themselves with respect to availability and cost.

Tenure

The site is to be sold freehold.

Terms

Sale by Informal Tender. Conditional or Unconditional offers are invited.

Informal Tenders are to be submitted by an Informal Tender form in a sealed envelope clearly marked “Informal Tender for the site at Greyfriars, Bedford” by 12 noon on Friday 21st July 2023. Tenders are to be delivered to Compass Land & Development, 14-16 Bromham Road, Bedford MK40 2QA.

Conditions of sale:

(1) The purchaser is to exchange contracts (whether conditional or unconditional) within 30 working days from when their solicitors receive draft contract documentation.

(2) The purchaser is to pay a 10% deposit on exchange of contracts. If the contract is conditional, then this is to be refundable if reserve matters consent is refused by the local planning authority and upheld in any subsequent appeal.

(3) If conditional, the purchaser is to submit a suitable planning application within an agreed timescale from exchange of contracts.

(4) Legal completion is to take place within 30 working days from exchange of contracts if unconditional or from receipt of planning permission if conditional.

The Police and Crime Commissioner is not bound to accept the highest offer or any offer and reserves the right to enter into negotiations with any party.

Viewing and Further Information

Viewing is strictly by prior arrangement with Compass Land & Development. Further information is available by contacting David or Mark.