NORTH LONDON MIXED USE DEVELOPMENT OPPORTUNITY
NORTH LONDON MIXED USE DEVELOPMENT OPPORTUNITY Land at the rear of 3 New Road, Crouch End, London, N8 8TA
Freehold
Red line boundary for indicative purposes only
■■ Mixed use development opportunity in the heart of affluent Crouch End. ■■ 0.09 hectare (0.23 acre) site currently occupied by a light industrial workshop building. ■■ Planning permission for 4 townhouses and 5 apartments with an approximate GIA of 964 sq m (10,376 sq ft) and B1(a) office floorspace with an approximate GIA of 446 sq m (4,801 sq ft). ■■ For sale freehold. ■■ Commercial unit deal structure is negotiable.
savills.co.uk
Location The site comprises the land at the rear of 3 New Road, which is located between Park Road and Middle Lane in Crouch End, in the London Borough of Haringey. Crouch End is an affluent neighbourhood in north London, to the east of Highgate, south east of Muswell Hill and north of Finsbury Park and Stroud Green. The area has numerous independent bars, restaurants and boutique retailers clustered around The Broadway, to the immediate south of the site, along with a Waitrose supermarket.
Priory Park is 300 metres to the north and the extensive open spaces of Alexandra Park are 900 metres to the north, along with Alexandra Palace, one of London’s best entertainment venues. Highgate London Underground station (Northern Line) is approximately 1.6km to the north west and provides services to King’s Cross St. Pancras (14 minutes) and Leicester Square (17 minutes). The area benefits from exceptional bus services to Finsbury Park (W3 / U7), Trafalgar Square (90) and Archway (41).
Red line showing site boundary and blue hatched area showing approximate route of rights of access. 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.
Description The property comprises an existing light industrial workshop building and associated outbuildings, which are vacant. The site extends to approximately 0.09 hectares (0.23 acres). It abuts the rear gardens of houses on Lynton Road to the north and the rear gardens of houses on New Road to the south. A car park serving The Vale Practice is to the west and a car park serving Angle House Orthodontic Clinic is to the east. The site benefits from a right of way with or without vehicles over land connecting the site to Park Road (A1201).
Red line showing site boundary and blue hatched area showing approximate route of rights of access. 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.
Planning The property falls within the jurisdiction of the London Borough of Haringey. Numbers 1 and 3 New Road are locally listed buildings. There are no other listed buildings adjacent. The site is located within the Crouch End conversation area. Planning permission has been granted (Ref: HGY/2016/1562) for: “Demolition of the existing buildings and construction of 9 new residential homes (4 x houses and 5 x flats) and 446 sq.m of office (Use Class B1a) floorspace in a building extending to between 2 and 4 storeys in height and associated car parking, andscaping and infrastructure works.” The plans submitted with the application can be found on the dataroom (www.savills.com/newroad). Four car parking spaces will be provided and a secure cycle store. Vehicular access to the site will be through the existing car park attached to The Vale Practice to the immediate west of the site. Additional pedestrian access runs north from New Road. The officer’s committee report estimates a Mayoral CIL liability of £41,380.43 and a LB Haringey CIL liability of £268,696.22. The Section 106 Agreement is available on the dataroom and includes financial contributions totalling £204,918, which are subject to indexation.
CGI of proposed scheme
The consented NSA areas of the four houses and five apartments are set out below: Type
Sq M
Sq Ft
House 1
4/5 bed
150
1,615
House 2
4/5 bed
150
1,615
House 3
3/4 bed
128
1,378
House 4
3/4 bed
128
1,378
Flat A
2 bed
82
883
Flat B
2 bed
80
861
Flat C
2 bed
82
883
Flat D
2 bed
80
861
Flat E
2 bed
84
904
964
10,376
Total
The consented GIA of the office floorspace is set out below: Sq M
Sq Ft
Ground Floor
248
2,669
First Floor
139
1,496
Second Floor
59
635
Total
446
4,800
The consented GEA of the development is set out below:
Ground Floor
Sq M
Sq Ft
554
5,963
First Floor
626
6,738
Second Floor
533
5,737
Third Floor
198
2,131
Total
1,911
20,570
Method Of Sale The property is for sale freehold by way of informal tender (unless sold prior). The vendor is willing to enter into a lease for the commercial unit, completed to shell and core with capped off services, for a term of 10 years and a break after 5 years at a rent of £27.50 per sq ft NIA with a rent free period of 12 months.
Alternatively the vendor would consider taking a 999 year lease for the commercial unit, completed to shell and core, at a peppercorn rent.
VAT The property is elected for VAT.
Viewings Viewings are strictly by appointment. Please contact the sole selling agents to make an appointment.
Further Information Further information relating to the planning permission and the property is available at: www.savills.co.uk/newroad
Important Notice Savills and their client give notice that: 1. They have no authority to make or give any representations or warranties in relation to the property. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs 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. Sale particulars produced February 2017.
Savills 33 Margaret Street, London W1G 0JD +44 (0) 20 7499 8644
savills.co.uk
Darren Arnold +44 (0) 20 7409 9926 [email protected]
Sean Cooper +44 (0) 20 7409 9948 [email protected]
Tom Faulkner +44 (0) 207 016 3796 [email protected]
Freehold
Red line boundary for indicative purposes only
■■ Mixed use development opportunity in the heart of affluent Crouch End. ■■ 0.09 hectare (0.23 acre) site currently occupied by a light industrial workshop building. ■■ Planning permission for 4 townhouses and 5 apartments with an approximate GIA of 964 sq m (10,376 sq ft) and B1(a) office floorspace with an approximate GIA of 446 sq m (4,801 sq ft). ■■ For sale freehold. ■■ Commercial unit deal structure is negotiable.
savills.co.uk
Location The site comprises the land at the rear of 3 New Road, which is located between Park Road and Middle Lane in Crouch End, in the London Borough of Haringey. Crouch End is an affluent neighbourhood in north London, to the east of Highgate, south east of Muswell Hill and north of Finsbury Park and Stroud Green. The area has numerous independent bars, restaurants and boutique retailers clustered around The Broadway, to the immediate south of the site, along with a Waitrose supermarket.
Priory Park is 300 metres to the north and the extensive open spaces of Alexandra Park are 900 metres to the north, along with Alexandra Palace, one of London’s best entertainment venues. Highgate London Underground station (Northern Line) is approximately 1.6km to the north west and provides services to King’s Cross St. Pancras (14 minutes) and Leicester Square (17 minutes). The area benefits from exceptional bus services to Finsbury Park (W3 / U7), Trafalgar Square (90) and Archway (41).
Red line showing site boundary and blue hatched area showing approximate route of rights of access. 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.
Description The property comprises an existing light industrial workshop building and associated outbuildings, which are vacant. The site extends to approximately 0.09 hectares (0.23 acres). It abuts the rear gardens of houses on Lynton Road to the north and the rear gardens of houses on New Road to the south. A car park serving The Vale Practice is to the west and a car park serving Angle House Orthodontic Clinic is to the east. The site benefits from a right of way with or without vehicles over land connecting the site to Park Road (A1201).
Red line showing site boundary and blue hatched area showing approximate route of rights of access. 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.
Planning The property falls within the jurisdiction of the London Borough of Haringey. Numbers 1 and 3 New Road are locally listed buildings. There are no other listed buildings adjacent. The site is located within the Crouch End conversation area. Planning permission has been granted (Ref: HGY/2016/1562) for: “Demolition of the existing buildings and construction of 9 new residential homes (4 x houses and 5 x flats) and 446 sq.m of office (Use Class B1a) floorspace in a building extending to between 2 and 4 storeys in height and associated car parking, andscaping and infrastructure works.” The plans submitted with the application can be found on the dataroom (www.savills.com/newroad). Four car parking spaces will be provided and a secure cycle store. Vehicular access to the site will be through the existing car park attached to The Vale Practice to the immediate west of the site. Additional pedestrian access runs north from New Road. The officer’s committee report estimates a Mayoral CIL liability of £41,380.43 and a LB Haringey CIL liability of £268,696.22. The Section 106 Agreement is available on the dataroom and includes financial contributions totalling £204,918, which are subject to indexation.
CGI of proposed scheme
The consented NSA areas of the four houses and five apartments are set out below: Type
Sq M
Sq Ft
House 1
4/5 bed
150
1,615
House 2
4/5 bed
150
1,615
House 3
3/4 bed
128
1,378
House 4
3/4 bed
128
1,378
Flat A
2 bed
82
883
Flat B
2 bed
80
861
Flat C
2 bed
82
883
Flat D
2 bed
80
861
Flat E
2 bed
84
904
964
10,376
Total
The consented GIA of the office floorspace is set out below: Sq M
Sq Ft
Ground Floor
248
2,669
First Floor
139
1,496
Second Floor
59
635
Total
446
4,800
The consented GEA of the development is set out below:
Ground Floor
Sq M
Sq Ft
554
5,963
First Floor
626
6,738
Second Floor
533
5,737
Third Floor
198
2,131
Total
1,911
20,570
Method Of Sale The property is for sale freehold by way of informal tender (unless sold prior). The vendor is willing to enter into a lease for the commercial unit, completed to shell and core with capped off services, for a term of 10 years and a break after 5 years at a rent of £27.50 per sq ft NIA with a rent free period of 12 months.
Alternatively the vendor would consider taking a 999 year lease for the commercial unit, completed to shell and core, at a peppercorn rent.
VAT The property is elected for VAT.
Viewings Viewings are strictly by appointment. Please contact the sole selling agents to make an appointment.
Further Information Further information relating to the planning permission and the property is available at: www.savills.co.uk/newroad
Important Notice Savills and their client give notice that: 1. They have no authority to make or give any representations or warranties in relation to the property. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs 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. Sale particulars produced February 2017.
Savills 33 Margaret Street, London W1G 0JD +44 (0) 20 7499 8644
savills.co.uk
Darren Arnold +44 (0) 20 7409 9926 [email protected]
Sean Cooper +44 (0) 20 7409 9948 [email protected]
Tom Faulkner +44 (0) 207 016 3796 [email protected]
