Industrial Chemicals Group is selling its headquarters in Grays, Essex as a residential development opportunity of potentially more than 1,000 homes, with a price tag of £50m.
The chemicals manufacturer and distributor has instructed Montagu Evans to sell the freehold to the 35-acre Titan Industrial Estate.
The site is half a mile from Grays town centre, set within a former chalk quarry.
ICL is progressing an outline planning application for around 700 homes, comprising 50% houses and 50% flats. An alternative higher density plan of 950 homes is also being considered. Written representations have been made to Thurrock Council for 1,053 homes.
Titan Industrial Estate has been identified by Thurrock Council for residential development, with allocation of around 1,100 homes in the local plan. The existing industrial works are set to be closed within 18 months.
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