Swindon & Wiltshire News
Warehouse with development potential heads to auction
A freehold warehouse investment in Chippenham with redevelopment potential is heading to auction next month, with Wiltshire-based Brockhurst Property Management.
1 & 2 Station Square will offer the buyer an income-producing asset close to the town’s main rail station.
The lot comprises two semi-detached warehouse units on Cocklebury Road, extending to about 1,040 sq m (11,198 sq ft) on a site of roughly 0.34 acres.
It is let to two tenants and currently generates £52,000 a year in rent, with Isom Group Limited, trading as a furniture outlet, paying £42,000 and Chippenham 2020 LLP contributing a further £10,000.
The property sits in a prominent position opposite Chippenham Station Short Stay Car Park and benefits from strong transport links, including easy access to the A350 and the M4 at Junction 17.
Rail connections are another draw, with Great Western Railway services reaching London Paddington in about 69 minutes and Bristol in 24 minutes.
Permission was granted in December 2020 for retail-to-flexible office use under Class E, while earlier B1 use consent has since lapsed.
That opens the door to possible redevelopment, subject to approval from Wiltshire Council, with tenants providing an income while redevelopment goes through the planning process.
The location, close to established occupiers including Kwik Fit, Sainsbury’s Local and Dorothy House Hospice, strengthens the case for alternative uses.
Brockhurst director Stephen Brickell will conduct the auction from 11am on July 15 as Lot 1 of the Allsop commercial auction.
The guide price is £675,000, representing a gross annual yield of 7.7 per cent.
Pre-registration is required. Full details are available at https://www.allsop.co.uk
