CGI of permitted scheme

2 PORTLAND PLACE Portland Road, , , SE25 4PE

Residential Led Development Opportunity 2 Portland Place Portland Road, South Norwood, London, SE25 4PE 2

EXECUTIVE SUMMARY LOCATION The site is located on the south western side of Portland The site has very good public transport connections as • Residential led development opportunity Place, close to its junction with South Norwood High Street. demonstrated by a PTAL rating of 5. Norwood Junction in South Norwood. National Rail station is approximately 160m to the south of the The site benefits from close proximity to a wide range of site and is accessed via a public footpath running along the local shops, restaurants and pubs along the High Street itself, south eastern boundary. • 0.13 acre (0.05 hectare) site comprising Portland Road and South Norwood Hill including a Tesco a part one, part two storey commercial express and Aldi supermarket. A more extensive range of Norwood Junction provides direct services to London Bridge retailers, restaurants and leisure facilities can be found in (12 minutes) and London Victoria via Junction building, extending to approximately 680 Town Centre which is located approximately 3.7km (37 minutes). Services also run south to West Croydon (6 sq m (7,319 sq ft). (2.3 miles) to the south west and is easily accessible by train minutes) and East Croydon (4 minutes) (source: National Rail). from Norwood Junction station. There are also numerous bus stops offering services to • Planning permission for the demolition of There are also a number of local community and recreational Croydon, Crystal Palace, and are available amenities situated in close proximity to the site including 116 within 200 metres of the site. the existing buildings and redevelopment acres of green space at South Norwood Country Park located to provide for a mixed-use scheme 0.9 kilometres (0.6 miles) south east of the site and the South Norwood Leisure Centre located 0.85 kilometres (0.5 miles) comprising 19 residential units (10 along Portland Road. x private, 6 x intermediate and 3 x affordable rent) and 205 sq m (2,207 sq ft) GIA of office floorspace.

• Combined residential Net Saleable Area of approximately 1,106 sq m (11,905 sq ft).

• Approximately 200 metres north east of Norwood Junction National Rail station.

• For sale freehold with vacant possession. 2 Portland Place Portland Road, South Norwood, London, SE25 4PE 3

DESCRIPTION PLANNING The existing property comprises a part one, part two storey commercial building currently in use as The property falls within the jurisdiction of the London Borough of Croydon and is not listed a print works (B2 use). The existing property extends to approximately 680 sq m (7,319 sq ft) and but is located adjacent to the South Norwood Conservation Area. sits within a broadly rectangular site extending to approximately 0.13 acres (0.05 hectares). The site is bound to the north by the Jolly Sailor public house, to the west by a car park and to the The site benefits from planning permission (Ref: 17/01596/FUL) granted on 20th March 2018 south by railway line and a railway bridge traversing Portland Road. for the following development:

“Demolition of existing buildings Erection of 4 storey building comprising offices 9 one bedroom and 10 two bedroom flats, provision of associated refuse and cycle storage; provision of associated parking spaces; provision of landscaping and landscaping to public realm.”

The proposed schedule of accommodation is set out below:

NIA / NIA / UNIT TYPE NO. OF UNITS NSA SQ M NSA SQ FT GIA SQ M GIA SQ FT Residential Private 10 557 5,993 Intermediate 6 344 3,702 Affordable Rent 3 205 2,210 Sub-Total 19 1,106 11,905 Commercial

Office Space 3 205 2,207

Sub-total 3 205 2,207 CGI of permitted scheme Total 1,680 18,083 CIL & S106 The development will be subject to Mayoral CIL at a rate of £20 per sq m and London Borough of Croydon CIL at a rate of £120 per sq m for residential floropsace only. These rates will be subject to inflation using the national All-In Tender Price Index of construction costs published by the Building Cost Information Service (BCIS) of the Royal Institution of Chartered Surveyors.

The proposed development will be subject to the following financial obligations as outlined in the Section 106 agreement:

FINANCIAL OBLIGATION SUM Air Quality Contribution £1,900 Carbon Offset Contribution £14,361 Public Toilet Contribution £70,000 Employment Contribution £7,414 CGI of permitted scheme Total £93,675 2 Portland Place Portland Road, South Norwood, London, SE25 4PE 4

TENURE FURTHER The Property is for sale freehold with Vacant INFORMATION Possession. Further information including technical and legal documentation is available at: METHOD OF SALE www.savills.co.uk/portlandroad The site will be sold by way of informal tender (unless sold prior). Offers are sought for the freehold interest. CONTACT For further information please contact: Andrew Cooper VIEWINGS +44 (0) 207 016 3848 Internal viewings are strictly by appointment; [email protected] please contact the sole selling agents to make an Lucy Robbie appointment. +44 (0) 207 409 5988 [email protected] Eleanor Heath VAT +44 (0) 203 320 8211 The site is not elected for VAT. [email protected]

IMPORTANT NOTICE Maps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, and published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. 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. Designed and Produced by Savills Marketing: 020 7499 8644 | September 2018