FREEHOLD MIXED USE DEVELOPMENT OPPORTUNITY FOR SALE
161 TOTTENHAM LANE CROUCH END LONDON N8 9BT
INDICATIVE VISUALISATION TOTTENHAM LANE N8 9BT HOME SUMMARY DESCRIPTION LOCATION AERIAL PLANNING & DEVELOPMENT TERMS CONTACT
(FOR ILLUSTRATIVE PURPOSES ONLY)
TOTTENHAM LANE N8 9BT HOME SUMMARY DESCRIPTION LOCATION AERIAL PLANNING & DEVELOPMENT TERMS CONTACT
SUMMARY
• Vacant office building arranged over three storeys, extending to 491m2 (5,285 ft²) with land to the rear
• Planning permission for re-development of the site to provide 3 x 2 bed houses, 5 x 2 bed flats, 1 x 3 bed duplex (total NSA of 775m2 / 8,342ft2) and a commercial unit (NIA of 47m2 / 506ft2)
• Highly sought after North London location, close to the shops and amenities of Crouch End and within a short walking distance of Hornsey Overground station providing access to Old Street in 14 minutes
• Unconditional offers in excess of £2,800,000 are invited for the freehold interest, subject only to contract
INDICATIVE VISUALISATION TOTTENHAM LANE N8 9BT HOME SUMMARY DESCRIPTION LOCATION AERIAL PLANNING & DEVELOPMENT TERMS CONTACT
DESCRIPTION
An opportunity to develop a scheme of houses,DESCRIPTION apartments and office or retail space within a sought after area of North London.
The site is occupied by a three storey B1 office building which extends to approximately 491m2 (5,285 ft²) NIA arranged over ground, first and second floors. To the rear is vacant land which has historically been used for storage/ car parking accessed via a drive way directly off Tottenham Lane. The site in total extends to approximately 0.07 hectares (0.17 acres).
The site was previously utilised as an office, and could be reverted to this use following a program of refurbishment.
Planning permission (ref: HGY/2014/3139) has been approved for the development of 3 houses and 6 apartments, plus office or retail space which would front Tottenham Lane. The adjoining sites (in separate ownerships) benefit from planning permission for a similar mixed-use scheme, which will further enhance the area.
The completed scheme is likely to appeal to young professional families, wanting to live in a well-established residential location, within easy reach of the City and West End. EXISTING FRONT ELEVATION TOTTENHAM LANE N8 9BT HOME SUMMARY DESCRIPTION LOCATION AERIAL PLANNING & DEVELOPMENT TERMS CONTACT
LOCATION
Crouch End is a sought after area of North London which is conveniently located for access to Central and Greater London. The immediate area predominantly consists of residential and commercial uses, with a variety of shops, cafés, restaurants and amenities available on The Broadway.
The property is adjacent to the attractive Art House Cinema and benefits from its proximity to Priory Park (650m), providing access to 16 acres of green open space including a café, paddling pool, tennis courts, playgrounds and a variety of other sporting and recreational facilities.
Transport links are excellent, with Hornsey Overground station situated approximately 800m from the property, providing National Rail services.
The area benefits from exceptional bus services to Finsbury Park (W3 / U7), Trafalgar Square (90) and Archway (41).
Journey times from Hornsey station are as follows:
Finsbury Park 5 minutes Old Street 14 minutes Moorgate 18 minutes TOTTENHAM LANE N8 9BT HOME SUMMARY DESCRIPTION LOCATION AERIAL PLANNING & DEVELOPMENT TERMS CONTACT
161 TOTTENHAM LANE TOTTENHAM LANE N8 9BT HOME SUMMARY DESCRIPTION LOCATION AERIAL PLANNING & DEVELOPMENT TERMS CONTACT
EMIRATES STADIUM
FINSBURY PARK
HARINGEY
161 TOTTENHAM LANE
HORNSEY CROUCH END CENTRE TOTTENHAM LANE N8 9BT HOME SUMMARY DESCRIPTION LOCATION AERIAL PLANNING & DEVELOPMENT TERMS CONTACT
PROPOSED ACCOMMODATION SCHEDULE
PLANNING & DEVELOPMENT POTENTIAL Unit Floor Description Amenity GIA sq.ft. GIA sq.m.
The existing building benefits from B1(a) Use Class, having most recently been used as offices. Commercial
The property benefits from detailed planning permission, granted 18th August 2015 under Ground A1/B1 Commercial Unit None 506 47 reference HGY/2014/3139, for demolition of existing building, retention and renovation of Commercial Total 506 47 existing Tottenham Lane and side façade, erection of two buildings at ground plus a three storey building comprising 6 x residential flats (Class C3) and 47 m² of flexible retail (Class A1) or office Residential floor space (Class B1(a)) and a building comprising 3 x 2 storey houses. 1 Ground & First 2 Bedroom House Garden & Winter Garden 1, 1216 113 The planning consent is subject to Community Infrastructure Levy (CIL) of £101,000. Section 106 Garden, Winter Garden obligations include a car-free development and a contribution of £7,000. 2 Ground & First 2 Bedroom House 1,141 106 & Balcony Garden, Winter Garden The scheme meets the required housing standards set by the Local Authority and Mayor, and 3 Ground & First 2 Bedroom House 1,141 106 will provide high quality homes that will contribute positively to, and enhance the existing & Balcony character of the area. 4 Ground & First 3 Bedroom Duplex Garden 1,356 126
An online copy of the planning application can be found here. 5 First 2 Bedroom Apartment Winter Garden 689 64
The site may offer further development potential, subject to obtaining the necessary planning 6 Second 2 Bedroom Apartment Balcony 710 66 consents. 7 Second 2 Bedroom Apartment Winter Garden 689 64 All planning enquiries should be directed to the London Borough of Haringey on 020 8489 5504. 8 Third 2 Bedroom Apartment Balcony 710 66
9 Third 2 Bedroom Apartment Balcony 689 64
Residential Total 8,342 775
Grand Total 8,848 822 TOTTENHAM LANE N8 9BT HOME SUMMARY DESCRIPTION LOCATION AERIAL PLANNING & DEVELOPMENT TERMS CONTACT
TENURE
The property is Freehold and will be sold subject to vacant possession on completion.
TERMS
Unconditional offers in excess of £2,800,000 are invited, subject only to contract.
VAT
We understand that the property is not elected for VAT.
ADDITIONAL INFORMATION
All relevant planning, technical and legal documents can be viewed and downloaded from our data room www.savills.co.uk/tottenhamlane. TOTTENHAM LANE N8 9BT HOME SUMMARY DESCRIPTION LOCATION AERIAL PLANNING & DEVELOPMENT TERMS CONTACT
CONTACT To discuss any aspect of this property or the disposal process, or to arrange an internal inspection, please contact the Seller’s joint sole agents:
Keir Goldstein Darren Arnold 020 7183 2529 020 7409 9926 [email protected] [email protected]
Daniel Warwick Sean Cooper 020 7183 2529 020 7409 9948 [email protected] [email protected]