The main building was built in the early 1900’s, is Locally Listed and was once the Watford Speedometer and Magneto Works. They supplied speedo’s for the Vickers Vimy’s first transatlantic flight in 1919 and also manufactured all Rolls Royce engine magnetos until 1932.
Later the building housed printing works associated with the Sun Engraving Company and Rembrandt Photogravure.
Having gained a successful planning consent on Phase Two for a mixed use development Landchain and Development Securities (U+I) have exchanged contracts to sell the remaining building at Rembrandt House for £3.25m to Henley Homes.
Since purchasing the asset for £4.25m in 2011 with Joint Venture partner Development Securities Plc (U+I) planning consent was initially obtained on Phase One for 107 residential units and subsequently sold to Shanly homes for £5.6m. The sale brings to the end our involvement in regenerating a previously under-utilised, Brownfield site for both continuing employment use and residential development.
Both phases of the development contained 40% Affordable Housing.