Indicative Visualisation Residential Development Opportunity For Sale
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS SUMMARY 4 houses and 14 lock-up garages on a site of circa 0.46 acres Planning permission for a new build scheme comprising 27 residential apartments (10 x 1 bed, 10 x 2 bed & 7 x 3 bed units) totalling 21,076ft 2 NSA 22 units for private sale with 5 for affordable housing (3 x Shared Ownership & 2 x Affordable Rent) Popular location in close proximity to both Norbury and Streatham Common stations Offers invited in the region of 3,500,000 for the freehold interest
DESCRIPTION & LOCATION HOME SUMMARY DEVELOPMENT TERMS DESCRIPTION The property comprises 4 x 2-storey semi-detached residential houses with large rear gardens, all of which are vacant. The south-eastern part of the site consists of 14 single-storey lock-up garage units. Vehicular access to the property taken directly from Streatham High Road. The site area extends to approximately 0.46 acres and is bounded by residential properties. LOCATION The property occupies a prominent position along Streatham High Road (A23), close to the junction with Ambleside Avenue (A214), within the London Borough of Lambeth. The surrounding area comprises a mix of residential and commercial uses, with the nearest shops and local amenities (including a Tesco Extra and Streatham Ice & Leisure Centre) situated approximately 0.6 miles from the property along Streatham High Road. Streatham Station is located 0.8 miles (circa 15 minute walk) from the property offering Southern and Thameslink services into Central London, including London Bridge in 30 minutes and Elephant & Castle in 15 minutes. Streatham Common Station is also circa 0.7 miles from the property.
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL APPROVED ACCOMMODATION SCHEDULE Planning permission was approved in August 2018 (reference 17/03425/FUL) for the demolition of all buildings and redevelopment of the site to provide 27 residential apartments (10 x 1 bed, 10 x 2 bed and 7 x 3 bed units) totalling 21,076ft 2 GIA. The planning approval is subject to a Section 106 Agreement with obligations for 3 residential units to be Shared Ownership (Plots 3, 6 and 8) and 2 units to be Affordable Rent (Plots 10 and 14). We understand that the combined Section 106 financial contributions and CIL liability will be circa 90,000. The online planning application can be viewed here. Proposed Front Elevation Unit Floor Description GIA ft 2 GIA m 2 1 Lower Ground 2 Bedroom 3 Person Apartment 915 85 2 Ground 3 Bedroom 4 Person Apartment 958 89 3 Ground 1 Bedroom 2 Person Apartment (Shared Ownership) 538 50 4 Lower Ground 2 Bedroom 3 Person Apartment 904 84 5 Ground 2 Bedroom 3 Person Apartment 678 63 6 Lower Ground 1 Bedroom 2 Person Apartment (Shared Ownership) 710 66 7 Lower Ground 2 Bedroom 3 Person Apartment 936 87 8 First 2 Bedroom 3 Person Apartment (Shared Ownership) 667 62 9 First 3 Bedroom 5 Person Apartment 958 89 10 Ground 2 Bedroom 3 Person Apartment (Affordable Rent) 829 77 11 Ground 1 Bedroom 2 Person Apartment 667 62 12 Ground 1 Bedroom 2 Person Apartment 840 78 13 Ground 2 Bedroom 3 Person Apartment 904 84 14 Ground 3 Bedroom 4 Person Apartment (Affordable Rent) 1,335 124 15 Lower Ground 3 Bedroom 4 Person Apartment 1055 98 16 First 1 Bedroom 2 Person Apartment 549 51 17 First 3 Bedroom 4 Person Apartment 861 80 18 First 2 Bedroom 3 Person Apartment 743 69 19 Second 1 Bedroom 2 Person Apartment 549 51 20 Second 3 Bedroom 4 Person Apartment 861 80 21 Second 2 Bedroom 3 Person Apartment 743 69 22 Third 1 Bedroom 2 Person Apartment 549 51 23 Third 3 Bedroom 4 Person Apartment 861 80 24 Third 2 Bedroom 3 Person Apartment 743 69 25 Fourth 1 Bedroom 2 Person Apartment 549 51 26 Fourth 1 Bedroom 2 Person Apartment 603 56 27 Fourth 1 Bedroom 2 Person Apartment 570 53 Total 21,076 1,958
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS TENURE The property will be sold with vacant possession on completion. VAT The property is not elected for VAT. TERMS Offers are invited in the region of 3,500,000. ADDITIONAL INFORMATION Further information including planning and legal documents are available within our dataroom using the access code Streatham. CONTACT To discuss any aspect of this property or the disposal process, please contact the sole selling agents: Jordan Oldfield 020 7183 2529 jordan.oldfield@kingsbury-consultants.co.uk Keir Goldstein 020 7183 2529 keir.goldstein@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 Visualisation