Indicative Visualisation Mixed-Use Development Opportunity For Sale
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS SUMMARY Warehouse building and associated land occupying a circa 0.35 acre site Planning permission for redevelopment of the site to create 9 residential units for private sale, totalling 10,134ft 2 GIA and office space totalling 3,552ft 2 GIA Proposed scheme comprises 4 x 3 bedroom houses, 5 x 2 bedroom apartments and 4 x B1 units Sought-after location approximately 0.3 miles from Peckham Rye Station and close to the shops and amenities of Peckham town centre Offers invited in excess of 2,500,000 for the vacant freehold interest
DESCRIPTION & LOCATION HOME SUMMARY DEVELOPMENT TERMS DESCRIPTION The existing property comprises a warehouse building which extends to approximately 4,402ft 2 across 2-storeys, with associated land used for storage and vehicle parking. The property currently has B8 (Storage & Distribution) Use Class, having most recently been used by a scaffolding company. The site lies at the intersection of two raised railway lines to the north and south-west with embankments on both sides. The site area is approximately 0.35 acres. Vehicular access is taken directly from the eastern side of Consort Road between two railway bridges. LOCATION The property is located on Consort Road in Peckham, within the London Borough of Southwark. The site is situated just to the east of The Rye Lane Peckham Conservation Area but is not within it. Consort Road comprises mainly residential uses and runs north to south through Peckham, connecting Peckham High Street with Nunhead Lane. Both Rye Lane and Peckham High Street are in close proximity which host numerous shops, restaurants and other commercial amenities. Peckham Rye Station is located circa 0.3 miles (approximately 6 minutes walk) from the property, providing London Overground and National Rail services. Journey times include London Bridge in 12 minutes and Shoreditch High Street in 23 minutes.
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL Planning permission was approved on 24th April 2018, under reference 17/AP/4480, for the redevelopment of the site to create 9 residential units (4 x 3 bedroom houses and 5 x 2 bedroom apartments) totalling 10,134ft 2 GIA and 4 x B1 units totalling 3,552ft 2 GIA. The proposed scheme involves demolition of some of the existing buildings and the retention, restoration and conversion of the eastern most warehouse building to provide 2 x 2 bedroom duplex apartments, alongside the construction of two new buildings to accommodate the remaining residential units (4 x houses and 3 x apartments) and office space. All units are for private sale with no affordable housing provision required. APPROVED ACCOMMODATION SCHEDULE Proposed South Elevation The planning consent is subject to a Section 106 Agreement which obligates for the development to be car-free and for public footpath to be provided through the site connecting Nazareth Close with Consort Road. A CIL liability of approximately 197,322 is applicable. Indicative Visualisation Unit Floor Description GIA ft 2 GIA m 2 Commercial 1 Ground & First B1 Office Unit (New Build) 1,582 147.0 2 Ground B1 Office Unit (New Build) 366 34.0 3 Ground B1 Office Unit (New Build) 441 41.0 4 Ground B1 Office Unit (New Build) 1,163 108.0 Sub-Total 3,552 330.0 Residential 1 Ground & First 2 Bedroom 3 Person Duplex (Conversion) 775 72.0 2 Ground & First 2 Bedroom 4 Person Duplex (Conversion) 1,184 110.0 3 Ground, First & Second 3 Bedroom 5 Person House (New Build) 1,378 128.0 4 Ground, First & Second 3 Bedroom 5 Person House (New Build) 1,378 128.0 5 First, Second & Third 3 Bedroom 5 Person House (New Build) 1,324 123.0 6 First, Second & Third 3 Bedroom 5 Person House (New Build) 1,324 123.0 7 First 2 Bedroom 4 Person Apartment (New Build) 823 76.5 8 Second 2 Bedroom 4 Person Apartment (New Build) 823 76.5 9 Third & Mezzanine 2 Bedroom 4 Person Duplex (New Build) 1,125 104.5 Sub-Total 10,134 941.5 Grand Total 13,686 1,271.5
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS TENURE The property will be sold freehold with vacant possession on completion. VAT The property is not elected for VAT. TERMS Offers are invited in excess of 2,500,000. ADDITIONAL INFORMATION Further information including planning and legal documents are available within our dataroom using the access code Consort. CONTACT To discuss any aspect of this property or the disposal process, please contact the sole selling agents: Keir Goldstein 020 7183 2529 keir.goldstein@kingsbury-consultants.co.uk Jordan Oldfield 020 7183 2529 jordan.oldfield@kingsbury-consultants.co.uk 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: 06869268. Indicative Visualisations