Wed, 09 Mar 2022 | COMMERCIAL PROPERTY
Bedford House, an office complex in Taunton, Somerset that was formerly occupied by Debenhams, has gone on the market with a £3.25 million guide price. Bedford House is a 56,398 sq ft complex comprising two interconnected blocks and has been vacant since Debenhams collapsed after falling into administration.
The complex, which was previously home to hundreds of administrative staff for Debenhams, is located on a 1.16-acre site and, following a refurbishment in 2016, is fitted with LED lighting and double-glazed windows throughout. The site also features parking for 40 vehicles, air conditioning, gas fired central heating and enjoys good natural light.
The site has been noted for its potential to be converted into residential housing. In August 2021, an application was submitted to Somerset West and Taunton Council to change the use of the site from office to residential, with the property being given prior approval to be converted into a combination of 69 one or two bedroom flats.
The property is being sold on a long-leasehold basis, with the sale being carried out on behalf of the landlord by Andrew Maynard, partner at property consultancy Alder King.
Mr. Maynard commented: "Bedford House provided Debenhams with good quality office space for many years in a convenient town centre location, close to the main retailing area and opposite County Hall and Shire Hall.”
"While of course it could continue to provide good quality office accommodation, we expect most interest to come from the residential development sector, attracted by the prior approval for redevelopment, combined with the market's renewed demand for flats."
One of the best ways to find properties below market price is to look at recent administrations.
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