Financial services provider Canada Life has instructed Savills to sell its landmark site in Potters Bar.
The five-acre brownfield site off High Street and Mutton Lane has been allocated for new homes in Hertsmere Borough Council’s draft Local Plan.
It includes two substantial office blocks – 65,000 sq ft six-storey Canada Life Place and 50,500 sq ft 13-storey Maple House – alongside 11,400 sq ft of mixed use buildings, a 5,000 sq ft car wash and a large car park area.
The Local Plan proposes residential use for the site, potentially with some additional housing for older people and around 27,000 sq ft of commercial use including office and retail space.
Joe Last, associate in the development team at Savills Cambridge, which has been appointed to market the site and find a partner for its redevelopment, said: “This is an important landmark site in a prime position.
“Its sale and subsequent redevelopment represents an exciting opportunity to deliver sustainable growth in the shape of high quality residential, retail and commercial uses and could significantly contribute to the supply of much-needed new homes in the local area.”
David Priddis, corporate property director at Canada Life, said: “Canada Life’s use of the Potters Bar site has evolved over the years and we are no longer making the same use of our office space.
“We are therefore looking for a partner to help deliver a sustainable and attractive scheme for the site that meets the needs of the local community and brings long-term benefit to the area.”
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