LONDON, January 22, 2015 /PRNewswire/ --
An office to residential conversion opportunity with Permitted Development Rights for 36 residential units has become available within Colchester.
The former BT property is on the market by way of informal tender. Located in the historic town of Colchester, considered to be one of Britain's fastest growing towns in the UK, Telephone House is on West Stockwell Street in the heart of the Dutch Quarter and immediately adjacent to the town centre.
The property was built in the late 1960s as a detached, self-contained office building, previously occupied by BT until 2011.
Prior approval for change of use was obtained by Telereal Trillium in August 2014 for this prominent five storey office building, offering approximately 2,908 sq m (31,300 sq ft) of net internal space and a total site area extending to 0.69 acres (0.28 hectares). The proposed conversion is for 36 residential Class C3 units of one and two bedroom apartments, with the added provision of 45 allocated parking spaces.
Telereal Trillium, Director of Disposals & Development, Mark Kelly said: "Colchester benefits from being a historic and idyllic town that is superbly located within just an hour's commute of London by rail. It has understandably become a very popular commuter's town and demand is expected to further boom in upcoming years. This will be a fantastic opportunity for the right buyer."
Savills is representing Telereal Trillium on the sale. More information can be found at http://commercialsearch.savills.co.uk/property-detail/3931.
About Telereal Trillium
We are experts in managing large, complex property portfolios and ensuring that accommodation supports transformational business change.
Operating in three distinct, yet complementary business areas - property partnerships, investments and developments - over the last decade we have established a UK-wide estate of more than 8,000 buildings.
We have long-term property partnerships with some of the UK's largest occupiers, including BT, the Department for Work and Pensions and DVLA. Today, Telereal Trillium is one of the UK's largest property companies, owning and managing an 8 million sq m, £5.5 billion estate, and housing 1% of the UK's workforce.
SOURCE Telereal Trillium