A former car showroom could be demolished for 72 one and two-bedroom flats.
Plans have been submitted to turn the empty BMW showroom in St Albans Road, North Watford, into housing.
The 72 flats on the site, close to Asda, will "improve the look of the area", applicant London Square Developments Ltd claims in its planning statement.
The four-storey building comes with 56 car parking spaces and 72 cycling spaces.
An aerial view of the current site
An aerial view of the proposed flats
No affordable housing is proposed.
A financial viability report undertaken by Avison Young concludes the proposed development is not viably able to support any affordable housing provision. Even with no affordable housing included, the applicant says in its planning report, the proposed development is not viable based upon today’s values.
It results in a profit of 11.7 per cent - compared to the required 17.5 per cent benchmark.
However, the applicant says it acknowledges the importance of affordable and social housing in Watford, and says it is willing to put £500,000 towards building affordable housing in the town.
A London Square Developments Ltd spokesperson said: "The development will create a new residential building of high-quality design that will help Watford Borough Council meet its housing demands. The homes will be targeted at first time buyers to help get them on the housing ladder.
"The development will also generate welcome capital for the council to reinvest in affordable housing."
To find out more about the application click here
What do you think about the plans? Email nathan.louis@newsquest.co.uk
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