Indicative Visualisation Residential Development Opportunity FOR SALE
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS SUMMARY Former doctors surgery and associated land occupying a site of circa 0.12 acres Planning permission for a 5-storey new build scheme comprising 12 residential apartments (5 x 3 bed, 4 x 2 bed and 3 x 1 bed units) totalling 9,661ft 2 NIA, all for private sale Sought-after residential location in close proximity to Westfield, Stratford town centre and Maryland Station which will operate Crossrail from 2017 Offers invited in excess of 1,800,000 freehold
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS DESCRIPTION The existing property comprises a former GP practice over part 1 and 2 storeys, with associated land and a car park on a site extending to circa 0.12 acres. The property is currently vacant. The site occupies a prominent corner position fronting Leytonstone Road to the west and Buxton Road to the north, with the car park located to the east of the property. Planning permission has been approved for comprehensive redevelopment of the site with a fully private residential scheme of 12 units benefiting from high quality transport links and easy access to Stratford s town centre. LOCATION The property is located in the popular East London area of Stratford, within the London Borough of Newham. The immediate surroundings comprise a mix of both residential and commercial uses, with a number of shops and amenities available on Leytonstone Road. Westfield Stratford shopping centre is located approximately 1.1 mile from the property. The nearest station is Maryland which provides regular services in Central London (London Liverpool Street Circa 13 minutes via Overground). Maryland Station will operate Crossrail / Elizabeth Line severices from May 2017.
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS DEVELOPMENT POTENTIAL Full planning permission was granted on the 27th March 2017, under reference 16/00807/ FUL, for the demolition of the existing property and the construction of a new 5-storey building to provide 12 residential units (5 x 3 bed, 4 x 2 bed & 3 x 1 bed), alongside associated cycle storage and a private amenity space. All units are for private sale with no requirement for affordable housing. The planning consent is subject to a Section 106 contribution of 500,000 and a CIL liability of circa 82,242.54. PROPOSED ACCOMMODATION SCHEDULE Unit Floor Description NIA ft 2 NIA m 2 1 Ground and First Three Bedroom Five Person Duplex 1,107 102 2 Ground and First Three Bedroom Five Person Duplex 1,076 100 3 Ground Two Bedroom Four Person Apartment 757 70 4 First Two Bedroom Four Person Apartment 757 70 5 First Three Bedroom Four Person Apartment 950 88 6 Second Two Bedroom Four Person Apartment 757 70 7 Second One Bedroom Two Person Apartment 538 50 8 Second Three Bedroom Five Person Apartment 976 90 9 Third Two Bedroom Four Person Apartment 808 75 10 Third One Bedroom Two Person Apartment 538 50 11 Third One Bedroom Two Person Apartment 538 50 12 Fourth Three Bedroom Five Person Apartment 835 77 Total 9,637 892
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS TENURE The property will be sold freehold with vacant possession on completion. VAT We understand that the property is not elected for VAT. TERMS Offers are invited in excess of 1,800,000. ADDITIONAL INFORMATION Further information including approved planning documents can be found in our dataroom using the access code Leytonstone. CONTACT To discuss any aspect of the property of disposal process, please contact the sole selling agents: Joe Goldsmith 020 7183 2529 joe.goldsmith@kingsbury-consultants.co.uk Keir Goldstein 020 7183 2529 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.