612 High Road & Land to the Rear, , IG3 8RF Investment / Development Opportunities For Sale www.kingsbury-consultants.co.uk 612 High Road & Land to the Rear, Seven Kings, Essex IG3 8RF

HOME SUMMARY DESCRIPTION & LOCATION PROPERTY A PROPERTY B TERMS

SUMMARY

PROPERTY A

• Vacant commercial building (A1 & B1 uses) extending to approximately 2,680ft2 NIA over 3-storeys

• 966ft2 across the ground and lower ground floors pre-let to Costa Coffee on a 12 year lease at £16,500 per annum PROPERTY A

• Prior Approval to convert the part ground and first floor to 2 x flats and potential for further residential development (STPP)

• Offers invited in excess of £450,000 for the freehold interest PROPERTY B PROPERTY B

• Vacant single-storey workshops and storage buildings occupying an 0.22 acre site

• Potential for comprehensive residential development, subject to obtaining the necessary consents

• Pre-application consultation taken place with the LPA in relation to a scheme of 19 unit flats

• Offers invited in excess of £1,200,000 for the freehold interest www.kingsbury-consultants.co.uk 612 High Road & Land to the Rear, Seven Kings, Essex IG3 8RF

HOME SUMMARY DESCRIPTION & LOCATION PROPERTY A PROPERTY B TERMS

DESCRIPTION

PROPERTY A PROPERTY B Property A (612 High Road) comprises a commercial building which extends to approximately 2,680ft2 NIA across 3-storeys. The lower ground and part ground floors benefit from A1 (Retail) Use Class and the 1st floor has B1 (Office) Use Class. The property is currently vacant.

Property B (land to the rear of 612 High Road) comprises a plot of land situated at the rear of 612 High Road which is occupied by single-storey workshops and storage units. The land extends to circa 0.22 acres and is currently vacant.

LOCATION

The properties occupy a prominent position on the High Road (A118) in Seven Kings, within the Borough of Redbridge. The immediate area comprises a mix of commercial and residential uses, and is currently undergoing extensive regeneration.

The nearest shops and local amenities are located along High Road, to the immediate east and west of the site. town centre is located approximately 1.2 miles (circa 24 minute walk) to the west of the site, offering numerous shops and restaurants as well as Ilford Exchange Shopping Centre.

Seven Kings Station is located adjacent to the property with Ilford Station located circa 1.3 miles to the west. Both now operate / Elizabeth Line services with journey times including:

Ilford – : 17 minutes / Ilford – Bond Street: 24 minutes Seven Kings - London Liverpool Street: 21 minutes www.kingsbury-consultants.co.uk 612 High Road & Land to the Rear, Seven Kings, Essex IG3 8RF

HOME SUMMARY DESCRIPTION & LOCATION PROPERTY A PROPERTY B TERMS

PROPERTY A EXISTING AREA SCHEDULE Floor NIA ft2 NIA m2 PLANNING & DEVELOPMENT POTENTIAL Lower Ground 799 74 Ground 970 90 We understand that the part ground floor and lower ground of the property benefit from A1 First 911 85 (Retail) Use Class and the 1st floor benefits from B1 (Office) Use Class. The property is not Total 2,680 249 listed and is not located within a Conservation Area. PROPOSED AREA SCHEDULE Prior Approval consent was granted on 16th October 2017, under reference 4453117, for conversion of part of the ground floor and the 1st floor office space to provide 2 x flats of circa 550ft2 and 900ft2 respectively. Floor Description NIA ft2 NIA m2 A1 space pre-let to Costa Coffee Lower Ground & Part Ground 966 90 There is further potential to develop the existing building to create additional residential units, on a 12 year lease at £16,500 P.A subject to obtaining the necessary consents. Indicative drawings have been prepared which Part Ground (Rear) Residential Apartment 550 51 show how the building can be extended and converted to provide 4 apartments (2 x 1 bedroom First Residential Apartment 900 84 & 2 x 2 bedroom units) plus retail space across the lower ground and part ground floors. Total 2,416 225

TENANCIES

Part of the property (402ft2 at ground floor and 564ft2 at lower ground floor) will be subject to a pre-let to Costa Coffee on the basis of a 12 year term at a rent of £16,500 per annum, subject to a 6 month rent free period and upward only reviews every 4 years.

The remainder of the property will be sold with vacant possession.

Indicative Visualisation www.kingsbury-consultants.co.uk 612 High Road & Land to the Rear, Seven Kings, Essex IG3 8RF

HOME SUMMARY DESCRIPTION & LOCATION PROPERTY A PROPERTY B TERMS

PROPERTY B PROPOSED AREA SCHEDULE (PRE-APP SCHEME) Unit Floor Description NIA ft2 NIA m2 PLANNING & DEVELOPMENT POTENTIAL 1 Ground 1 Bedroom 2 Person Apartment 646 60 2 Ground 1 Bedroom 2 Person Apartment 689 64 The property is not listed and is not located within a Conservation Area 3 Ground 4 Bedroom 6 Person Apartment 1152 107 4 First 3 Bedroom 4 Person Apartment 818 76 The site offers potential for comprehensive redevelopment to provide new build residential 5 First 2 Bedroom 3 Person Apartment 667 62 units, subject to obtaining the necessary consents. 6 First 1 Bedroom 2 Person Apartment 592 55 7 First Studio Apartment 506 47 Pre-application discussions have taken place with the London Borough of Redbridge in 8 First 1 Bedroom 2 Person Apartment 570 53 relation to a 5-storey new build scheme to provide 19 apartments (10 x 1 bedroom, 6 x 2 9 Second 2 Bedroom 3 Person Apartment 667 62 bedroom, 1 x 3 bedroom & 2 x 4 bedroom units) extending to a total NSA of 12,928ft2. 10 Second 2 Bedroom 3 Person Apartment 667 62 The pre-application scheme and formal response can be viewed in the dataroom. 11 Second 1 Bedroom 2 Person Apartment 592 55 12 Second Studio Apartment 474 44 TENANCIES 13 Second 1 Bedroom 2 Person Apartment 592 55 14 Third 1 Bedroom 2 Person Apartment 614 57 The entire property will be sold with vacant possession. 15 Third 2 Bedroom 3 Person Apartment 667 62 16 Third 4 Bedroom 6 Person Apartment 1066 99 17 Third Studio Apartment 506 47 18 Fourth 2 Bedroom 4 Person Apartment 753 70 19 Fourth 2 Bedroom 3 Person Apartment 689 64 Total 12,928 1,201

Indicative Visualisation www.kingsbury-consultants.co.uk 612 High Road & Land to the Rear, Seven Kings, Essex IG3 8RF

HOME SUMMARY DESCRIPTION & LOCATION PROPERTY A PROPERTY B TERMS

TENURE

The properties will be sold freehold.

VAT

The properties are not elected for VAT.

TERMS

Offers are invited in excess of £450,000 for Property A and £1,200,000 for Property B.

Proposals will be considered to purchase both properties together or as separate lots.

ADDITIONAL INFORMATION

Further information including existing and proposed drawings, pre-application documents and details of the pre-let are available in the dataroom using the access code ‘Seven’. Property A CONTACT To discuss any aspect of this property or the disposal process, please contact the sole selling agents:

Paul Heale 020 7183 2529 [email protected]

Jordan Oldfield 020 7183 2529 [email protected]

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 No: 06869268. Property B