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Sales and Marketing Report the Development

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Sales and Marketing Report the Development July 2017 223 Streatham Road & 1 Ridge Road, London CR4 Sales and Marketing Report The Development Description The proposed scheme is a new build development comprising 30 x apartments and a commercial unit, all of the units will be for open market sale, with no on site affordable housing. The scheme is designed within a single block with the commercial unit situated at ground floor level. There will be parking for 21 vehicles on the ground floor, along with bicycle space, private and shared amenity space for all of the units. Location The site is located on Streatham Road which links the south-west London districts of Streatham and Mitcham. The Local Authority is the London Borough of Merton. The immediate area comprises mainly residential uses, with a selection of shops just to the south of the property. The nearest station is Tooting (0.6 miles). Achievable Prices Based on our research and knowledge of the area, we believe the Gross Development Value of the proposed scheme to be in the region of £13,845,000; equating to average capital values for the residential element of approximately £655/sq.ft. Pricing at this level is more affordable then nearby Streatham, which can achieve over £750/ sq.ft. Expected Buyer Profile Given the location and expected finish, the likely buyers will include young professionals working nearby or Central London, first time buyers (potentially using the Help-to-Buy scheme) and buy-to-let investors. Kingsbury New Homes Indicative Pricing Schedule—Kingsbury Kingsbury New Homes Indicative Pricing Schedule—Barnard Kingsbury New Homes Indicative Pricing Schedule—Ludlow Kingsbury New Homes Comparables Residential Comparable Evidence Address Bedrooms Price & £/ft² Transaction Date 49 Tynemouth Road £415,000 Mitcham 3b5p Apartment 30th June 16 £650psf CR4 2BQ 55a Heaton Road £471,000 Mitchan 2b4p Apartment 1st April 16 £603psf CR4 2BW 60 Ashbourne Road £345,000 11th November Mitcham 1b2p Apartment £727psf 2016 CR4 2BA 108 Tynemouth Road £440,000 22nd December 2b4p Apartment Mitcham £585psf 2016 CR4 2BP Kingsbury New Homes Comparables Residential Comparable Evidence Address Bedrooms Price & £/ft² Transaction Date 125 Tynemouth Road £415,000 Mitcham 3b5p Apartment 10th April 2017 £579psf CR4 2BR 16 Tynemouth Road £413,000 Mitcham 2b4p Apartment 24th March 2017 £671psf CR4 2BN Harford Court, Palace 1B2p Apartment £435,000 Road, Streatham, ON THE MARKET (New Build) SW2 £748psf London Square, 1B2p Apartment £419,980 ON THE MARKET Streatham Hill, SW2 (New Build) £773psf Kingsbury New Homes Comparables Residential Comparable Evidence Address Bedrooms Price & £/ft² Transaction Date Harford Court, 2b4p Apartment £535,000 Palace Road, ON THE MARKET Streatham , SW2 (New Build) £742psf Building G, 2b4p Apartment £600,000 ON THE MARKET Streatham Hill, SW2 (New Build) £764psf Knaresborough 3B5p Apartment £699,950 ON THE MARKET Drive, SW18 (New Build) £700psf Knaresborough 3B5p Apartment £754,950 ON THE MARKET Drive, SW18 (New Build) £750psf Kingsbury New Homes About Us Kingsbury are established as one of London and the South-East’s most prolific residential development agents. Since 2009 our development agency team have coordinated development projects which will provide over 10,000 new homes. Our New Homes department provides our developer clients with the same pro-active service to assist in the management of the design, marketing and sale of newly built residential units. We work in conjunction with leading New Homes sales agents across Greater London and the South East. Please visit our website to see our latest New Homes sales and recently completed projects. www.kingsburynewhomes.co.uk 1st Floor, 81 Alie Street, London E1 8NH Telephone: 020 7183 2529 [email protected] www.knh.co.uk @kingsbury_info .
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