Tuesday, 22 August 2017

Shops sold for £1.5m at auction

A PARADE of six shops in Henley has been sold for almost £1.5 million.

The freehold for the business premises, plus two flats, at the junction of Greys Road and King James Way was sold at auction in London on Tuesday.

The estimated sale price was just under £1million but there was fierce bidding at the auction until it reached £1,450,000.

Property consultants Allsop, who ran the auction, said the buyer was a “private individual”.

The six businesses are the One Stop convenience store, the Thunder Pizza and Happy Wok takeaways, laundrette Launderama, Char’s Nails and Beauty and Twilights Hair Studio.

The vendor was a property company which had owned the parade for years.

The sale has sparked fears among some of the business owners and occupants of the flats that they could be forced out.

The site is next door to the small commercial estate formerly owned by merchant drapers M Makower & Co that is set to be redeveloped into 17 homes.

Meanwhile, an office block in Henley could be turned into 23 flats is after being sold for more than £4 million.

The former RPS Energy building at the corner of Reading Road and Newtown Road was owned by A&J Mucklow Group, a property investment company based in the Midlands.

The two-storey building was returned to the firm on August 21 following the exercise of a break option in the lease and it has been vacant since then.

The sale of the 12,000 sq ft site was revealed by company chairman Rupert Mucklow.

Speaking at the firm’s annual meeting, he said: “Contracts have been exchanged on the sale of our 12,000 sq ft office building in Henley for £4.1 million.

“The property became vacant in August and attracted considerable interest from local residential developers.

“The property was last valued for office use at £2.2 million in June. The sale is not conditional on planning.”

A planning application for the site has been submitted by Marson Property of London to transform the building into 16 one-bedroom flats, five two-bedroom flats and two studios.

The application says that 20 parking spaces would be “appropriate”.

It continues: “It is proposed to provide 23 secure cycle spaces — one space per residential unit — in accordance with standards.”

A transport statement from Crosby Transport Planning says: “The change in the number of vehicle trips to and from the site as a result of the change in use would be an overall reduction during the typical network peak hours and daily time periods considered.

“It is evident therefore that the change in use would not result in a material increase in traffic on to the highway network in the vicinity of the site.”

South Oxfordshire District Council, the planning authority, is set to make a decision by January 11.

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