1st April 2014
Sale of former Inland Revenue office building for residential conversion is one of Weston’s first PDR transactions
Acting on behalf of Sladeridge Properties, property consultants Alder King have secured one of the first office to residential Permitted Development Rights transactions in Weston-super-Mare.
The firm’s Bristol agency team has negotiated the freehold sale of Parkside House, a former Inland Revenue office building on Grove Street, to a private purchaser. The four storey office building with consent for residential development was sold for an undisclosed sum.
The property’s location on Grove Road in the town centre makes it well-positioned for residential redevelopment under the Government’s Permitted Development Rights scheme. The 17,745 sq ft building includes a reception with an eight person lift and 24 secure basement car parking spaces.
Tom Dugay, from Alder King’s award-winning agency team, said: “This property is a classic example of how Permitted Development Rights can breathe new life into former office buildings that are past their prime. Parkside House’s position in the heart of the town centre and its car parking provision make it an ideal proposition for residential conversion.”