Tollgate House, located in Market Place, Romford, is currently on the market for £1.8 million. This includes two shop units on the ground floor and office space on the upper floors. With over 9,500 square feet of space in total, the building offers a significant opportunity for development.
The listing by Kingsbury estate agent highlights that there are 7,254 square feet of offices spread across the first, second, and third floors. While most of the office space is vacant, one of the ground floor commercial units is currently leased to CRC (London) Limited until September 2026, generating an annual rent of £15,000.
An interesting aspect of the property is that a prior approval application (J0013.23) has already been granted to convert the office space into nine flats. These flats are planned to be a mix of one-, two-, and three-bedroom units. Additionally, a recent change in plans (J0018.24) submitted by Mark Carter Associates proposes that each flat will have two bedrooms. Havering Council is set to review and decide on this change in the coming days.
Originally built in 2006, Tollgate House was initially intended for use as a pub or restaurant on the first floor, but it was later converted into office space. Now, with the opportunity to transform the upper floors into residential flats, the building holds great potential for a new developer.
For those interested in learning more about the sale of Tollgate House, they can reach out to Kingsbury estate agent at 020 7193 4921. This property offers a unique chance for redevelopment and investment in the heart of Romford, making it an attractive opportunity for potential buyers looking to capitalize on the growing housing market demand in the area.
