Stockport to approve Cheadle office to resi conversion
Empire Property’s plan to convert the AA’s former Lambert House office into 98 apartments is due to get the green light this week.
Stockport Council has recommended that Empire’s Cheadle scheme be approved by its planning and highways committee, which meets on Thursday.
A report by Stockport Council’s planning department states that the scheme “would make a substantial and valuable contribution to the council’s housing supply when there are insufficient available and deliverable housing sites in Stockport to meet and maintain a five-year housing land supply position”.
Built in the late 1980s, Lambert House comprises two blocks. Block A is to be converted into 68 flats, while block B is earmarked for another 30.
The properties would be a mix of one-, two-, three-, and four-bedroom apartments. No affordable homes are proposed. The development would also feature a gym and co-working space.
DLP Planning is advising Empire on the scheme.
To learn more about the project, search for application reference DC/087432 on Stockport Council’s planning portal.
Empire Property Concepts submitted plans for the conversion of Lambert House in December 2022.
Since then, the company, headed up by Paul Rothwell, has changed its name to MCIOD Ltd and appointed administrators. The company collapsed with liabilities of £10m.
Lambert House is held by a separate Empire SPV set up in March 2022 called Featherfoot Lambert House. The vehicle acquired the building and adjoining surface car park for £6.275m in October 2022, according to Land Registry.
A viability appraisal submitted with the application states that the site’s benchmark land value is £2m, the scheme would cost £17.4m to build, and has a GDV of £18.9m.
The AA vacated the 60,000 sq ft Lambert House last year, relocating to Orbit’s Park Square, and appointed Avison Young to find a buyer.