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7 Cross Lane, Hornsey, London N8 7SA Residential-Led Development Opportunity For Sale www.kingsbury-consultants.co.uk 7 Cross Lane, Hornsey, London N8 7SA
Home Summary Description & Location Development Terms
Summary
Car repair centre and associated land positioned on a 0.5 acre site
Resolution to grant planning permission for 50 x residential apartments (13 for Affordable Housing) across two blocks totalling 36,608ft2 and a ground floor commercial unit of 2,013ft2
Popular North London location within walking distance of Alexandra Palace and Hornsey train station
Offers are invited for the freehold interest www.kingsbury-consultants.co.uk 7 Cross Lane, Hornsey, London N8 7SA
Home Summary Description & Location Development Terms
Description The property comprises a collection of light industrial buildings, including offices and workshops, which extend to approximately 6,558ft2 positioned on a 0.5 acre site.
The site incorporates a car park area which provides parking for numerous vehicles, as well as areas of hard-standing surrounding the buildings that allow for further parking. The property can be accessed via Cross Lane.
The property is currently vacant and not subject to any lease agreements.
Location The property is located on Cross Lane, Hornsey within the London Borough of Haringey.
Ordnance Survey © Crown Copyright 2021. All Rights Reserved. Licence number 100022432 The immediate area comprises a mixture of residential and commercial uses and is currently Plotted Scale - 1:1250. Paper Size - A4 undergoing significant regeneration. Smithfield Yard adjoins the site and will provide 69 new build apartments with Smithfield Square located within walking distance of the site.
Alexandra Park and Alexandra Palace are within walking distance of the property (500m) offering 197 acres of parkland and open space.
The nearest train station is Hornsey (0.3 miles) providing National Rail services into London Moorgate in 18 minutes and Finsbury Park in 4 minutes. www.kingsbury-consultants.co.uk 7 Cross Lane, Hornsey, London N8 7SA
Home Summary Description & Location Development Terms
Planning & Development Potential
A resolution to grant planning permission was given at committee (HGY/2020/1724) for the demolition of the existing buildings and erection of 2 x buildings of 5 stories (Block A) and 6 storeys (Block B) to provide 50 residential apartments (16 x 1 bed, 23 x 2 bed and 11 x 3 bed units) totalling 36,608ft2. and a ground floor flexible commercial unit (Class E) extending to approximately 2,013ft2.
The planning consent is subject to a Section 106 Agreement with obligations for 6 apartments (1 x 1 bed, 2 x 2 bed and 3 x 1 bed units) to be delivered as London Affordable Rent and 7 apartments (2 x 2 bed and 5 x 3 bed units) to be Shared Ownership. The S106 also contains financial obligations totalling £215,000.
A CIL liability of approximately £1,027,664.75 is payable. Please note that this is an indexed estimate as at March 2021 and should not be relied upon, any prospective purchasers should undertake their own analysis. Accommodation Summary
Description Quantity NIA ft2 NIA m2 Commercial Unit 1 2,013 187 Block A 1 Bedroom Apartments 13 7,621 708 2 Bedroom Apartments 17 12,497 1,161 3 Bedroom Apartments 2 1,938 180 Block B 1 Bedroom Apartments 2 1,098 102 1 Bedroom Apartment (Affordable) 1 538 50 2 Bedroom Apartments 2 1,453 135 2 Bedroom Apartments (Affordable) 4 3,089 287 3 Bedroom Apartment 1 936 87 3 Bedroom Apartments (Affordable) 8 7,438 691 Total Residential 50 36,608 3,401 Grand Total 38,621 3,588 Indicative Visualisation www.kingsbury-consultants.co.uk 7 Cross Lane, Hornsey, London N8 7SA
Home Summary Description & Location Development Terms
Tenure
The property will be sold freehold and subject to vacant possession upon completion.
VAT
The property is not elected for VAT.
Terms
Offers are invited for the freehold interest.
Additional Information
Further information including planning documents and technical documents are available in the dataroom using access code ‘Cross‘.
Contact
To discuss any aspect of the property of disposal process, please contact the sole selling agents:
Jordan Oldfield 020 7183 2529 [email protected]
Chris Incledon 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 England No: 06869268. Indicative Visualisation