Knight Frank launches Anglia Square opportunity in Norwich

Knight Frank launches the Anglia Square redevelopment opportunity in Norwich city centre, with a guide price of £8.5m+.

Knight Frank has been appointed to market the Anglia Square site in Norwich by Columbia Threadneedle Investments | BTR News
Knight Frank has been appointed to market the Anglia Square site in Norwich by Columbia Threadneedle Investments.

Global property consultancy Knight Frank has been appointed by Columbia Threadneedle Investments to market the Anglia Square redevelopment opportunity in Norwich.

The site has planning permission for a mixed-use scheme comprising up to 1,100 residential units and 8,000 sqm of flexible commercial space. Anglia Square represents a rare investment opportunity to deliver large-scale urban regeneration in Norwich.

Anglia Square is a substantial 11.4-acre site in the city centre and is being brought to market with a guide price of £8.5m+.

Located 500 meters from Norwich City Hall and the historic market, the site benefits from a prime, city centre location. The city is currently experiencing high demand for quality housing and commercial space as there is a lack of supply, making it an attractive prospect for developers and investors alike.

Outline of the Anglia Square site | Knight Frank | BTR News
Outline of the Anglia Square site.

“We are pleased to be offering Anglia Square for sale on behalf of Columbia Threadneedle Investments. It has been a priority asset for Norwich for over two decades, and despite the well-publicised withdrawal by Weston Homes earlier this year, we are very excited about the prospects for the property looking forward.

“Viability challenges exist across the regional UK for high density development, but we know outstanding mixed-use development is deliverable today, subject of course to identifying the appropriate complimentary mix of uses and density thresholds.

“In this instance, Anglia Square has strong income potential from a range of tenant types, as well as ‘easy wins’ for early disposals and development. This gives an incoming purchaser real optionality on how to address the development outcome, whilst enjoying income from working the existing buildings and spaces in an entrepreneurial manner.”

Charlie Hart, Head of Development Land, Knight Frank

Anglia Square currently consists of a covered 34-unit retail mall, former cinema, two office buildings, a multistorey car park and two-night clubs. The existing site generates a current annual rental income of £698,000 and holds significant opportunity for additional income, according to Knight Frank.