A consented residential development at The Old Electricity Works in St Albans, Hertfordshire, has hit the market.
The 1.72-acre site on Campfield Road is being sold by Fortress Land & Property and Savills, inviting bids in excess of £9.5m.
The Old Electricity Works has consent for 107 flats and 5,371 sq ft of office space.
St Albans approved plans from special purpose vehicle Campfield Road Property, which is owned by developer The V Fund, in 2018. The SPV officially took ownership of the site in 2020.
A revised planning application to reduce the number of car parking spaces and level of affordable housing was refused in 2020, but gained approval at appeal in June 2021.
The site currently holds a former electricity works building, alongside warehouses and light industrial.
To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews
Photo: Campfield Road Property
