Development Opportunity
North East London Investment/ Development Opportunity 176 Wood Street, Walthamstow, London E17 3HX
■■ A mixed-use investment / development opportunity opposite Wood Street station ■■ A part-one, part-three storey property comprising two commercial units and two residential apartments ■■ Passing rent of £51,400 per annum ■■ Potential for redevelopment, subject to the necessary consents ■■ For sale freehold
savills.co.uk
Location Wood Street is situated in Walthamstow, north east London, in the London Borough of Waltham Forest. Walthamstow is approximately 10 km (6 miles) from the West End and 8 km (5 miles) from the City of London. The area is bounded by the Lea Valley and the Walthamstow Reservoirs to the west, Epping Forest to the east and the North Circular Road (A1400) to the north. Wood Street (B160) runs north from Lea Bridge Road (A104), Whipps Cross to Forest Road (A503). Wood Street London Overground Station is at the centre point of the road. Wood Street is a vibrant local centre with an eclectic mix of convenience and specialist retailers, cafés and pubs.
Wood Street indoor market, 200 metres north of the property, is a thriving market built around a horseshoe corridor consisting of 30 unique shops run by local owners and tradespeople. To the immediate north and north west of the property is a residential led development scheme being built by Countryside. The scheme will provide 436 residential units and replace much of the Marlowe Road estate which occupied the site. Walthamstow provides an extensive retail offering with a bustling town centre, a shopping mall with planned improvements and extensions, and Walthamstow Market, the longest single street market in Europe. Walthamstow Village, an area of attractive Victorian and Georgian streets and an enclave of artisan and independent shops, bars and restaurants on Orford Road is approximately 500 metres west of the property.
The area benefits from excellent access to the leisure activities and green open spaces of the Lea Valley to the west, where the Walthamstow Wetlands, Europe’s largest urban wetland reserve has just opened. Lloyd Park, home to the William Morris Gallery, formal gardens and children’s play areas is 1.2km to the north west. The property is directly opposite Wood Street London Overground Station. Direct services in to Liverpool Street for the City of London are approximately 20 minutes. Journey times to the West End (Oxford Circus) are approximately 30 minutes, with a change at Walthamstow Central for Victoria Line London Underground trains (source: tfl. gov.uk). Walthamstow Central Station is approximately 1.2km to the west, reached on foot via Walthamstow Village. A local bus service to Chingford and Leytonstone runs along Wood Street.
Description The property is a part three, part one storey building comprising two commercial units, with two residential apartments on the two upper floors. The apartments were converted from offices in 2009. Property Address
Floor
176 Wood Street
It is situated on a site extending to approximately 0.013 hectares (0.03 acres). Walls are in solid brickwork, rendered and painted, under a hipped and pitched slateclay roof. Area GIA Sq M (Sq Ft)
Tenant
Maria Moradi t/a Wood Street Dental Practice
Ground
Rent Per Annum
89.2 (960)
£18,500
The upper part windows in front are uPVC double glazed and timber framed to the rear. On the ground floor there are solid floors throughout and plastered walls and ceilings.
Lease End
Comments
26.07.2027
Mutual break 26.07.2020 and on every 3rd anniversary thereafter, with 6 months notice. Landlord’s right for a surrender following planning permission for redevelopment. Outside 1954 Act. EPC rating F.
176b Wood Street
Ground
Heather Hogan t/a Obsession Hair Design
29.8 (321)
£8,000
06.04.2027
Mutual break 07.04.2020 and on every 3rd anniversary thereafter, with 6 months notice. Landlord’s right for a surrender following planning permission for redevelopment. Outside 1954 Act. EPC rating D.
176C Wood Street
1st Floor 1 Bedroom Flat
Residential AST
33.7 (362) – tbc
£12,000
07.07.2018
AST. EPC rating F.
176D Wood Street
1st / 2nd Floor 1 Bedroom Flat
Residential AST
34.3 (369) - tbc
£12,900
05.03.2018
AST. EPC rating F.
176 Wood Street, Walthamstow, London E17 3HX
130 to 132
128
126
137
PH
145
NDO B RA
NR
OAD
25.2m 1 to 9
147
Allen Pamphilon House
Car Park
to 1
164
51
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (UK) Limited. 3
9 15
7 15
168
152
5b 15
153
3 16
1 to 205
16 5 to 16
O D T EE
W oo d
R ST 17
Sh el te r
O W
9
St re et St at io n
71
Northwood Tower
1
17
6
25.0m 97
LB
Sh SL
te el
r
TCB
MP 7 Shelter
PH
SP
3 17
24.9m
100 to
17
132
5 17
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (UK) Limited. Works 7
82 to
5
3
1 18
2
92
Planning
The scheme considered was for an 8 storey development comprising 37 apartments and ground floor commercial space. In 2016 a pre-application enquiry was submitted for a smaller scheme that incorporated the property and a piece of highways-owned land to the immediate south. This provided for 9 apartments and a ground floor retail unit. The schemes submitted and the responses received from LBWF are available on the dataroom.
The property is situated in the London Borough of Waltham Forest (LBWF). It is not listed or adjacent to any listed buildings and it is not in a Conservation Area. It is identified as part of a wider site allocation within the Wood Street Area Action Plan Preferred Options. The AAP is one of four key growth areas identified by LBWF. The site is identified as a key and prominent corner location. A pre-application process was undertaken in 2013 which considered the potential for redevelopment of the property and the adjoining properties forming the ‘island site’.
Method of Sale and Tenure The property is for sale freehold, subject to the existing leases, and will be sold by informal tender (unless sold prior).
VAT The property is not elected for VAT.
Further Information Further detailed information, including EPC reports, can be found on the dataroom: www.savills.co.uk/176woodstreet
Viewings The property can be seen from the public highway. If you require an inspection of the buildings please contact the sole selling agents to make an appointment.
Existing ground floor units Wood Street 176a - Ground Floor
10' x 8'6'' 3.05 x 2.59m
10'9'' x 10'3'' 3.28 x 3.12m
7' x 7' 2.13 x 2.13m 10' x 9'6'' 3.05 x 2.90m
14'3'' x 9'6'' 4.34 x 2.90m
12'3'' x 7'9'' 3.73 x 2.36m
7' x 6'6'' 2.13 x 1.98m
GROUND FLOOR Wood Street 176b - Ground Floor
Surveyed and Drawn By:
SCALE 1:100 @ A4
APPROX. GROSS INTERNAL AREA * 960 Ft ² - 89.18 M ²
13'3'' x 10' 4.04 x 3.05m
10'6'' x 9'9'' 3.20 x 2.97m
Plans Drawn: 18.04.2017
N
Property Details:
176a WOOD STREET WALTHAMSTOW LONDON E17 3HX
BKR
Sunnyhill House 3-7 Sunnyhill Road London, SW16 2UG Tel: 0845 257 2023 Fax: 0845 257 2024 [email protected] www.bkrfloorplans.co.uk
C BKR 2017
CGI of 2016 pre-application scheme
GROUND FLOOR
Property Details:
Surveyed and Drawn By:
176b WOOD STREET WALTHAMSTOW LONDON E17 3HX
Savills, their clients and any joint agents give notice that: SCALE
N
Important Notice
BKR
Sunnyhill House 3-7 Sunnyhill Road London, SW16 2UG Tel: 0845 257 2023 Fax: 0845 257 2024 [email protected] www.bkrfloorplans.co.uk
1:100 @ A4 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either Plans Drawn: 18.04.2017 on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. APPROX. GROSS INTERNAL AREA * 321 Ft ² - 29.82 M ²
C BKR 2017
2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Rents quoted in these particulars may be subject to VAT in addition. Sales particulars produced October 2017.
Savills 33 Margaret Street London W1G 0JD
savills.co.uk
Sean Cooper +44 (0) 20 7409 9948 [email protected]
Alex Soskin +44 (0) 20 7409 9993 [email protected]
■■ A mixed-use investment / development opportunity opposite Wood Street station ■■ A part-one, part-three storey property comprising two commercial units and two residential apartments ■■ Passing rent of £51,400 per annum ■■ Potential for redevelopment, subject to the necessary consents ■■ For sale freehold
savills.co.uk
Location Wood Street is situated in Walthamstow, north east London, in the London Borough of Waltham Forest. Walthamstow is approximately 10 km (6 miles) from the West End and 8 km (5 miles) from the City of London. The area is bounded by the Lea Valley and the Walthamstow Reservoirs to the west, Epping Forest to the east and the North Circular Road (A1400) to the north. Wood Street (B160) runs north from Lea Bridge Road (A104), Whipps Cross to Forest Road (A503). Wood Street London Overground Station is at the centre point of the road. Wood Street is a vibrant local centre with an eclectic mix of convenience and specialist retailers, cafés and pubs.
Wood Street indoor market, 200 metres north of the property, is a thriving market built around a horseshoe corridor consisting of 30 unique shops run by local owners and tradespeople. To the immediate north and north west of the property is a residential led development scheme being built by Countryside. The scheme will provide 436 residential units and replace much of the Marlowe Road estate which occupied the site. Walthamstow provides an extensive retail offering with a bustling town centre, a shopping mall with planned improvements and extensions, and Walthamstow Market, the longest single street market in Europe. Walthamstow Village, an area of attractive Victorian and Georgian streets and an enclave of artisan and independent shops, bars and restaurants on Orford Road is approximately 500 metres west of the property.
The area benefits from excellent access to the leisure activities and green open spaces of the Lea Valley to the west, where the Walthamstow Wetlands, Europe’s largest urban wetland reserve has just opened. Lloyd Park, home to the William Morris Gallery, formal gardens and children’s play areas is 1.2km to the north west. The property is directly opposite Wood Street London Overground Station. Direct services in to Liverpool Street for the City of London are approximately 20 minutes. Journey times to the West End (Oxford Circus) are approximately 30 minutes, with a change at Walthamstow Central for Victoria Line London Underground trains (source: tfl. gov.uk). Walthamstow Central Station is approximately 1.2km to the west, reached on foot via Walthamstow Village. A local bus service to Chingford and Leytonstone runs along Wood Street.
Description The property is a part three, part one storey building comprising two commercial units, with two residential apartments on the two upper floors. The apartments were converted from offices in 2009. Property Address
Floor
176 Wood Street
It is situated on a site extending to approximately 0.013 hectares (0.03 acres). Walls are in solid brickwork, rendered and painted, under a hipped and pitched slateclay roof. Area GIA Sq M (Sq Ft)
Tenant
Maria Moradi t/a Wood Street Dental Practice
Ground
Rent Per Annum
89.2 (960)
£18,500
The upper part windows in front are uPVC double glazed and timber framed to the rear. On the ground floor there are solid floors throughout and plastered walls and ceilings.
Lease End
Comments
26.07.2027
Mutual break 26.07.2020 and on every 3rd anniversary thereafter, with 6 months notice. Landlord’s right for a surrender following planning permission for redevelopment. Outside 1954 Act. EPC rating F.
176b Wood Street
Ground
Heather Hogan t/a Obsession Hair Design
29.8 (321)
£8,000
06.04.2027
Mutual break 07.04.2020 and on every 3rd anniversary thereafter, with 6 months notice. Landlord’s right for a surrender following planning permission for redevelopment. Outside 1954 Act. EPC rating D.
176C Wood Street
1st Floor 1 Bedroom Flat
Residential AST
33.7 (362) – tbc
£12,000
07.07.2018
AST. EPC rating F.
176D Wood Street
1st / 2nd Floor 1 Bedroom Flat
Residential AST
34.3 (369) - tbc
£12,900
05.03.2018
AST. EPC rating F.
176 Wood Street, Walthamstow, London E17 3HX
130 to 132
128
126
137
PH
145
NDO B RA
NR
OAD
25.2m 1 to 9
147
Allen Pamphilon House
Car Park
to 1
164
51
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (UK) Limited. 3
9 15
7 15
168
152
5b 15
153
3 16
1 to 205
16 5 to 16
O D T EE
W oo d
R ST 17
Sh el te r
O W
9
St re et St at io n
71
Northwood Tower
1
17
6
25.0m 97
LB
Sh SL
te el
r
TCB
MP 7 Shelter
PH
SP
3 17
24.9m
100 to
17
132
5 17
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (UK) Limited. Works 7
82 to
5
3
1 18
2
92
Planning
The scheme considered was for an 8 storey development comprising 37 apartments and ground floor commercial space. In 2016 a pre-application enquiry was submitted for a smaller scheme that incorporated the property and a piece of highways-owned land to the immediate south. This provided for 9 apartments and a ground floor retail unit. The schemes submitted and the responses received from LBWF are available on the dataroom.
The property is situated in the London Borough of Waltham Forest (LBWF). It is not listed or adjacent to any listed buildings and it is not in a Conservation Area. It is identified as part of a wider site allocation within the Wood Street Area Action Plan Preferred Options. The AAP is one of four key growth areas identified by LBWF. The site is identified as a key and prominent corner location. A pre-application process was undertaken in 2013 which considered the potential for redevelopment of the property and the adjoining properties forming the ‘island site’.
Method of Sale and Tenure The property is for sale freehold, subject to the existing leases, and will be sold by informal tender (unless sold prior).
VAT The property is not elected for VAT.
Further Information Further detailed information, including EPC reports, can be found on the dataroom: www.savills.co.uk/176woodstreet
Viewings The property can be seen from the public highway. If you require an inspection of the buildings please contact the sole selling agents to make an appointment.
Existing ground floor units Wood Street 176a - Ground Floor
10' x 8'6'' 3.05 x 2.59m
10'9'' x 10'3'' 3.28 x 3.12m
7' x 7' 2.13 x 2.13m 10' x 9'6'' 3.05 x 2.90m
14'3'' x 9'6'' 4.34 x 2.90m
12'3'' x 7'9'' 3.73 x 2.36m
7' x 6'6'' 2.13 x 1.98m
GROUND FLOOR Wood Street 176b - Ground Floor
Surveyed and Drawn By:
SCALE 1:100 @ A4
APPROX. GROSS INTERNAL AREA * 960 Ft ² - 89.18 M ²
13'3'' x 10' 4.04 x 3.05m
10'6'' x 9'9'' 3.20 x 2.97m
Plans Drawn: 18.04.2017
N
Property Details:
176a WOOD STREET WALTHAMSTOW LONDON E17 3HX
BKR
Sunnyhill House 3-7 Sunnyhill Road London, SW16 2UG Tel: 0845 257 2023 Fax: 0845 257 2024 [email protected] www.bkrfloorplans.co.uk
C BKR 2017
CGI of 2016 pre-application scheme
GROUND FLOOR
Property Details:
Surveyed and Drawn By:
176b WOOD STREET WALTHAMSTOW LONDON E17 3HX
Savills, their clients and any joint agents give notice that: SCALE
N
Important Notice
BKR
Sunnyhill House 3-7 Sunnyhill Road London, SW16 2UG Tel: 0845 257 2023 Fax: 0845 257 2024 [email protected] www.bkrfloorplans.co.uk
1:100 @ A4 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either Plans Drawn: 18.04.2017 on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. APPROX. GROSS INTERNAL AREA * 321 Ft ² - 29.82 M ²
C BKR 2017
2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Rents quoted in these particulars may be subject to VAT in addition. Sales particulars produced October 2017.
Savills 33 Margaret Street London W1G 0JD
savills.co.uk
Sean Cooper +44 (0) 20 7409 9948 [email protected]
Alex Soskin +44 (0) 20 7409 9993 [email protected]
