The original home of acclaimed Altrincham restaurant Dilli has been bought for £425,000 ahead of its redevelopment as a mixed-use scheme.
The freehold of 60 Stamford New Road has been acquired by Altrincham-based Novo Property Group from Perlada Holdings Incorporated.
Novo has now submitted plans for a major redevelopment of the 3,755 sq ft, four-floor building, to include nine high-end residential apartments – including three duplex penthouses – on the upper floors above an arcade of small boutique retail outlets.
The work would retain and enhance the front facade while the derelict rear of the property would be refaced.
Novo is currently involved with a number of other Altrincham projects, including The Tannery apartments in Goose Green.
Ben Fearns, managing director of Novo Property, said: “Altrincham is becoming a real residential hotspot complementing the desirable neighbourhoods of Hale and Bowdon and this town centre property is ideally located for conversion.
“This is our fourth residential project in the town, having seen a huge demand for town centre living. We have two developments completing this year, The Tannery and Victoria House, with 14 of the 17 apartments already reserved.”
Daniel Lee, director, Regional Property Solutions, who acted for Novo, said: “This acquisition reflects the growing popularity of converting offices to residential use under Permitted Development Rights (PDR) for change of use.
“Converting upper floor ancillary retail space into either residential or high quality offices is the best approach in order to unlock as much value as possible with healthy prospects in both markets.”
Williams Sillitoe Commercial acted for the vendor.
Indian restaurant Dilli closed its Stamford New Road restaurant in October 2014, re-opening as The New Dilli on The Downs a few weeks later.