2-4 Oaks Lane, Newbury Park, Essex IG2 7PL Residential Development Opportunity For Sale

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1 ENTER Residential Development Opportunity For Sale

2 HOME DESCRIPTION & LOCATION DEVELOPMENT TERMS Two semi-detached houses with associated gardens positioned on a 0.29 acre site Planning permission for a new build scheme of 9 residential dwellings comprising 6 x 2 bed flats and 3 x 3 bed houses totalling 7,879ft 2 Potential for further development by way of an additional storey, subject to planning consent Popular residential location in close proximity to Newbury Park Underground Station (Central Line) Offers invited in excess of 1,500,000 freehold

3 HOME DESCRIPTION & LOCATION DEVELOPMENT TERMS DESCRIPTION The existing property comprises a pair of semi-detached, 3 bedroom houses extending to circa 1,100ft 2 each. Both have private gardens and off-street parking, and occupy a broadly rectangular site extending to 0.29 acres. Both properties are accessed directly via Oak s Lane and benefit from separate side entrances which provide access to the rear gardens. Planning permission has been granted for redevelopment of the site with a fully private scheme of 6 x 2 bedroom apartments and 3 x 3 bedroom houses, all benefiting from private parking and amenity space. LOCATION The property is located in the popular East London suburb of Newbury Park, within the London Borough of Redbridge. Oak s Lane is a quiet residential street which comprises mainly residential uses. The site is neighboured by Newbury Park Synagogue and residential properties to the east and a parade of shops to the south. A number of shops and amenities are located on nearby Eastern Avenue, with more commercial offerings available off King George Avenue and in Ilford town centre. Newbury Park Station is located approximately 0.4 miles from the property and provides regular Underground services (Central Line) into Central London (London Liverpool Street) in under 25 minutes.

4 HOME DESCRIPTION & LOCATION DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL Planning permission was granted on 15th March 2017, under reference 0199/17 for the demolition of the existing dwellings and erection of two new residential blocks comprising 6 x 2 bedroom self-contained apartments and 3 x 3 bedroom houses with 9 off-street parking spaces. All units will benefit from private amenity space with private gardens for the houses and balconies for the apartments. The block of apartments is located at the front of the site with the houses located in a terrace at the rear. 6 x 2 Bedroom Apartments The planning consent is subject to a CIL liability of approximately 80,000. No Section 106 obligations apply. There may be potential for further development by way of an additional storey to the apartment block, subject to obtaining the necessary consents. APPROVED ACCOMMODATION SCHEDULE Unit Floor Description NIA ft 2 NIA m 2 1 Ground Two Bedroom Four Person Apartment Ground Two Bedroom Four Person Apartment First Two Bedroom Four Person Apartment First Two Bedroom Four Person Apartment Second Two Bedroom Four Person Apartment Second Two Bedroom Four Person Apartment Ground & First Three Bedroom Five Person House 1, Ground & First Three Bedroom Five Person House 1, Ground & First Three Bedroom Five Person House 1, Total 7, Off-Street Parking 3 x 3 Bedroom Houses Proposed Site Layout

5 HOME TENURE The property will be sold freehold subject to vacant possession upon completion. VAT We understand that the property is not elected for VAT. TERMS Offers are invited in excess of 1,500,000. ADDITIONAL INFORMATION Further information including approved planning documents can be found in the dataroom using the access code Oaks. CONTACT To discuss any aspect of the property of disposal process, please contact the sole selling agents: Paul Heale Joe Goldsmith Kingsbury 1st Floor, 81 Alie Street, London E1 8NH Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: DESCRIPTION & LOCATION DEVELOPMENT TERMS