A partly completed residential development in St Albans has been put on the market for offers over £10 million.
Watling Real Estate is selling the site known as Viciniti on Cape Road on behalf joint administrators Lee Lockwood and Jamie Miller of RSM Restructuring Advisory in Leeds.
The freehold part-built development has planning permission granted for 37 dwellings, consisting of a range of one and two bedroom apartments and three and four bedroom townhouses.
Jamie Lamond, director of Watling Real Estate, said: “This is not only a great investment and development opportunity, it is located in the Fleetville area of St Albans which is popular with families and young professionals.
“It lies approximately one mile for St Albans City Railway Station, providing access into central London in about 20 minutes – making it ideal for hybrid working.
“The locality also benefits from being in the catchment areas of several ‘Outstanding’ schools.”
The part-built development comprises 7 two bedroom shared ownership apartments in Block A, 9 four bedroom townhouses in Block B, 4 one bedroom apartments and 14 two bedroom apartments in Block C, with 3 three bedroom townhouses in Block D.
There is also parking for 51 vehicles.
Located off Burleigh Road, Viciniti has been thoughtfully designed to offer off-street parking with EV charging points, private gardens with paved terraces to all houses, and shared green spaces for all residents to enjoy. There is also convenient access to the Alban Way, a cycle and walking route to the city centre and station.
Mr Lamond added: “Construction commenced in January 2023 and work on all four blocks was under way when the administrators were called in. Interested parties should arrange a site visit with us to see for themselves the current state of play.”
Viewings are only available via the sole agents Watling Real Estate. For further details see https://watling.com/property/223048/, and email jamie.lamond@watling.com to arrange to view.
