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31-33 High Street, Southampton, Hampshire, SO14 2DF
Guide Price* : £3,000,000
Town Centre Site with Planning Consent for Boutique Student Development
- Large Town Centre Development Site
- Consent for a boutique student development of 120 apartments
- Retail accommodation to the front within the original baking facade
- Potential for a variety of other uses (subject to planning)
- To be sold by Online Auction if not sold prior
Description
The property comprises a former bank building, situated in the heart of Southampton. The property has consent for a scheme comprising 120 modular student studio apartments and a three storey commercial unit to the High Street Frontage. The plans allow for the retention of the bank facade which, while not listed, adds to the aesthetic of the street and allows for the creation of a truly unique student development.
The accommodation is likely to be popular with international, post graduate and mature students as this market moves towards a requirement for self contained studios rather than flats with multiple occupants. We envisage the unit to the High Street would appeal to a variety of retail uses, especially restaurants.
Whilst the property has consent for a student led development, it is envisaged that the property would be suitable for a variety of other uses, including residential or key worker accommodation.
Location
The property is located in Southampton, a large port city and the commercial hub of Hampshire and the South Coast.
The town has two universities, namely, the University of Southampton and Solent University. The University of Southampton is located in the north of the town in Portswood and is the largest and most well known of the two, whilst Solent University is located in the town centre and focusses primarily on industry led degree courses and makes use of the towns naval and industrial history. Both universities are widely recognised and attract a mix of students from across the nation and the globe.
The property is situated in the heart of the city on the High Street. The street itself is seeing large areas of redevelopment, particularly to the north but also along the waterfront to the south.
Tenure
Freehold
Planning
The property has consent under reference 17/00707/FUL for a comprehensive, mixed use development of a single open use retail unit (with the exception of hot food takeaway) across ground, first and second floors to the High Street frontage, with a separate block to the rear arranged across basement, ground and four upper floors to provide 120 studio apartments. It is considered that these student units could be suitable for either modular or traditional construction and indicative plans are available for the modular option.
The development is considered suitable for an additional 10 units within the approved envelope via a planning amendment. Indicative plans are available upon request.
It is envisaged that the property would be suitable for a variety of alternative uses, such as key worker accommodation, a hotel or as residential apartments (subject to planning).
Planning Authority
Southampton City Council
VAT
The property is not elected for VAT
Finance
Development finance options are available for this property via our property finance team. Please contact Ashley Elkin for more information.
aelkin@lsh.co.uk
Contact
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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Office Contact
Related Documents
- Site Plan
- Approved Plans - GF & 1F
- Approved Plans - 2F & 3F
- Approved Plans - 4F and Roof
- Side Elevation
- Front Elevation
- Proposed Accommodation Schedule
Agreement Documents
Additional Documents
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton April 2025
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