Land adjacent to 1-7 Dace Road, Hackney Wick, E3 2NG

Transcription

1 Land adjacent to 1-7 Dace Road, Hackney Wick, E3 2NG Residential Led Development Opportunity Land adjacent to 1-7 Dace Road, E3 2NG CGI of proposed scheme

2 Executive Summary A development opportunity located in Hackney Wick within the jurisdiction of the London Legacy Development Corporation. A 0.13 hectare (0.32 acre) site that consists of a 194 sq m (2,088 sq ft) GIA steel frame industrial shed and an area of hardstanding. Approximately 600 metres south of Hackney Wick Overground station and 1.5 km west of Stratford station. The site benefits from planning permission to provide 34 residential units 1,905 sq m (20,504 sq ft ) NSA and 531 sq m (5,716 sq ft) GIA of commercial floorspace. For sale freehold with vacant possession. Location The existing site extends to approximately 0.13 hectares (0.32 acres) and is bounded by Dace Road to the west and Smeed Road to the east. The site lies on the western side of Fish Island, close to the Queen Elizabeth Olympic Park and Victoria Park. The immediate surroundings broadly consist of a number of old industrial buildings, many of which are in the process of being redeveloped or have had planning applications submitted to provide a range of uses. The site benefits from good transport links, with Hackney Wick Overground station approximately 600 metres to the north and Stratford station approximately 1.5 km to the east. NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. Crown copyright licence number Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

3 Hackney Wick and Fish Island Hackney Wick and Fish Island is one of London s most exciting neighbourhoods due to its burgeoning arts and business communities that have begun to thrive particularly since the opening of the East London Overground Line. Formerly a Victorian industrial suburb, many of the buildings are now used by Small and Medium Enterprises in the art, design and tech sectors working in cooperative workspaces with access to innovative bars and cafés. The area has a vibrant nightlife, and event organisers make full use of the numerous interesting spaces and canal-side location that Hackney Wick and the neighbouring Fish Island offer. Stratford Stratford is to the immediate east of Hackney Wick and can be reached on foot from Dace Road and is one stop on the Overground from Hackney Wick Station. Queen Elizabeth II Olympic Park, accessed via a footbridge at the end of Dace Road, is the largest new urban park in Europe in 150 years, extending to approximately 230 hectares (568 acres). The sporting venues built for the games, including the London Aquatics Centre and the Lee Valley VeloPark, are now open to the public. Here East, London s home for making lies further to the north across the canal and will be a major new centre of offices and studios for media, tech and creative businesses alongside shops and restaurants. Westfield with 250 shops, 70 dining venues, a 17-screen cinema, ten-pin bowling venue and the UK s first super casino. Stratford is a major transit hub, providing access to National Rail, Jubilee and Central Line underground trains, London Overground, the DLR and Crossrail services from 2018.

4 Description The site comprises a 194 sq m (2,088 sq ft) GIA steel frame industrial shed to the rear of the site and a hard standing courtyard fronting Smeed Road. CGI of proposed scheme

5 Planning Planning permission (REF: 17/00007/FUL) has been granted for the demolition of the existing building and the erection of a mixed-use five storey building to provide 2,772 sq m (29,838 sq ft) of floorspace (GIA), comprising: 531 sq m (5,716 sq ft) (GIA) of commercial floorspace (Use Class B1) at ground level, and 34 residential units (Use Class C3) on the upper floors, with associated landscaping, amenity areas, cycle parking, refuse storage and a commercial courtyard. The architects for the scheme were PH Plus Ltd. The site to the north has detailed resolution to grant under planning ref; 16/00462/FUL for 110 apartments (77 private & 33 affordable) and approx. 67,899 sq ft of B1(a) use and B1(c) flexible use creative workspace. Section 106 Agreement The planning permission is subject to a Section 106 Agreement requiring a total of 8 affordable housing units (5 Intermediate units and 3 Affordable Rented units). There is also a requirement to pay 10,000 to the London Borough of Tower Hamlets to extend the CPZ hours as well as a carbon offset payment of 48,840. Type Floor Number of Units GIA sqm sqft Commercial Ground ,716 NSA sqm sqft 1st ,846 2nd ,631 Residential 3rd ,328 4th ,317 Residential Sub Total 34 2,241 24,122 Total Area 2,772 29,838 CIL The scheme will be subject to both a local and Mayoral CIL payment. The local CIL will total approximately 134,000 with Mayoral CIL totaling approximately 97,109. CGI of proposed scheme

6 Land adjacent to 1-7 Dace Road, Hackney Wick, E3 2NG Residential Led Development Opportunity Tenure The property is held freehold. Method Of Sale The property is for sale freehold with vacant possession by way of informal tender (unless sold prior). Further Information Further information relating to the property and the consented scheme is available at VAT The property is not elected for VAT. Viewings The site can be inspected from the public highway. If you require access to inspect the existing buildings please contact the sole selling agents to make an appointment. Contact Savills UK Ltd Darren Arnold Alex Soskin Hugh Bushell Important Notice Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and Produced by Savills Marketing: September 2017 Aerial image of site