Indicative Visualisation High Road, Ilford, Essex IG1 1TX Residential Development Opportunity For Sale

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1 Indicative Visualisation Residential Development Opportunity For Sale

2 HOME SUMMARY DESCRIPTION & LOCATION AERIAL DEVELOPMENT TERMS SUMMARY Rectangular site extending to circa 0.23 acres currently used for car sales Planning permission for a 4-storey new build scheme of 25 apartments (10 x 1 bed and 15 x 2 bed units) for private sale totalling 16,770ft 2 Potential to add extra storeys to the current scheme, subject to planning permission Popular East London location close to Ilford town centre and approximately 600m from Seven Kings Crossrail Station Offers invited in excess of 3,250,000 for the freehold interest

3 HOME SUMMARY DESCRIPTION & LOCATION AERIAL DEVELOPMENT TERMS DESCRIPTION The existing property comprises a broadly rectangular site of approximately 0.23 acres. Most of the land is cleared, although there are several temporary structures around the perimeter. The premises is currently used for car sales and accessed directly from Ilford High Road. The property is let on a 6 month rolling lease, outside the provisions of the 1954 Landlord & Tenant Act, with vacant possession obtainable with 4 weeks notice. The site is bounded by terraced houses to the north and a modern apartment block to the west, with Ilford High Road to the south and Elizabeth Avenue to the east. LOCATION The site occupies a prominent position on High Road between Ilford and Seven Kings, within the London Borough of Redbridge. The immediate area comprises a mix of commercial and residential uses, and is currently undergoing extensive regeneration. Ilford town centre is located approximately 1 mile to the west of the site, offering numerous shops, restaurants and amenities as well as Ilford Exchange Shopping Centre. Seven Kings Station is located circa 600m to east of the property with Ilford Station located circa 1 mile to the west. Both now operate Crossrail / Elizabeth Line services with journey times including: Ilford Canary Wharf: 17 minutes / Ilford Bond Street: 24 minutes

4 HOME SUMMARY AERIAL DESCRIPTION & LOCATION O2 ARENA TERMS DEVELOPMENT CANARY WHARF QUEEN ELIZABETH OLYMPIC PARK RIVER THAMES BARKING STATION ILFORD EXCHANGE NORTH CIRCULAR CINEWORLD CINEMA ILFORD CROSSRAIL POLICE STATION SOUTH PARK ILFORD SPORTS CENTRE SEVEN KINGS CROSSRAIL HIGH ROAD

5 HOME SUMMARY DESCRIPTION & LOCATION AERIAL DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL APPROVED ACCOMMODATION SCHEDULE Planning permission was granted via appeal on 27th July 2017, under reference APP/W5780/W/17/ , to erect a 4-storey building to create 25 self-contained apartments with 10 off-street parking spaces at surface level. The proposed scheme comprises 10 x 1 bedroom and 15 x 2 bedroom units totalling 16,770ft 2. All units are for private sale with no affordable housing requirement. The planning consent is subject to Section 106 financial contributions of approximately 340,000 and CIL of approximately 191,520. There may be potential to enhance the current planning permission with up to 2 extra floors to provide additional residential units, subject to obtaining the necessary consents. Indicative Visualisation Unit Floor Description NIA ft 2 NIA m 2 1 Ground 2 Bedroom Apartment Ground 2 Bedroom Apartment Ground 2 Bedroom Apartment Ground 2 Bedroom Apartment Ground & First 2 Bedroom Duplex Apartment Ground & First 2 Bedroom Duplex Apartment Ground & First 2 Bedroom Duplex Apartment Ground & First 2 Bedroom Duplex Apartment First & Second 2 Bedroom Duplex Apartment First 2 Bedroom Apartment First 2 Bedroom Apartment First 2 Bedroom Apartment Second 2 Bedroom Apartment Second 2 Bedroom Apartment Second 2 Bedroom Apartment Second 1 Bedroom Apartment Second 1 Bedroom Apartment Second 1 Bedroom Apartment Second 2 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Third 1 Bedroom Apartment Total 16,770 1,558

6 HOME SUMMARY DESCRIPTION & LOCATION AERIAL DEVELOPMENT TERMS TENURE The property will be sold freehold. VAT The property is not elected for VAT. TERMS Offers are invited in excess of 3,250,000. ADDITIONAL INFORMATION Further information including planning documents are available in the dataroom using access code Ilford. Proposed Front Elevation CONTACT To discuss any aspect of the property of disposal process, please contact the sole selling agents: Paul Heale Keir Goldstein Kingsbury 1st Floor, 81 Alie Street, London E1 8NH Proposed Front Elevation 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: