Knight Frank has been appointed by Columbia Threadneedle Investments to market the Anglia Square redevelopment opportunity in Norwich city centre. This site is available with a guide price of £8.5 million.

The Anglia Square site has planning permission for a mixed-use development that includes up to 1,100 residential units and 8,000 square metres of flexible commercial space. Spanning 11.4 acres and located just 500 metres from Norwich City Hall and the historic market, this site is ideally situated to meet the high demand for quality housing and commercial space in the city.

Charlie Hart, Head of Development Land at Knight Frank, expressed enthusiasm about the project: “We are thrilled 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.”

Hart also highlighted the potential of the site, noting that “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.”

Currently, Anglia Square features a covered 34-unit retail mall, a former cinema, two office buildings, a multi-storey car park, and two nightclubs. The site generates an annual rental income of £698,000 and presents considerable opportunities for additional revenue, according to Knight Frank.