On the 14th and 28th September 2021 respectively, Mole Valley District Council’s (MVDC) Scrutiny and Cabinet committees will consider the appointment of a development partner for Claire House and James House in Leatherhead, a key project in the Transform Leatherhead masterplan.
Following the launch of the phased marketing campaign in March 2021, MVDC has worked in conjunction with new property advisors Vail Williams to secure a suitable development partner for the riverside site, on the basis of ensuring that development is in accordance with the Transform Leatherhead masterplan objectives.
Upon completion of the redevelopment MVDC recommends the transfer of its freehold interest to the developer, whilst simultaneously entering into a sublease of the ground floor café and community space for a 999 year term at a peppercorn rent.
MVDC would agree the final terms of disposal prior to the execution of the associated legal agreements.
Outline planning approval for the site was previously obtained in June 2019 and provides for 35 residential units on upper floors in addition to the community facilities and café on the ground floor.
Eleven developer bids were initially submitted, of which five were invited to attend interviews and submit best and final offers, with due diligence checks undertaken to determine the suitability of each bidder from a financial and deliverability perspective.
Councillor Keira Vyvyan-Robinson, Cabinet Member for Projects, said: “The appointment of this development partner would be a significant step in implementing the recommendations of the Masterplan for the Riverside Quarter, helping to create much needed market and affordable housing for the district whilst simultaneously improving the south-western gateway to Leatherhead.”
For further information on the Riverside Quarter please refer to the Transform Leatherhead website.