Indicative Visualisation

Land at Wilmer Place, , N16 0LH Development Opportunity For Sale www.kingsbury-consultants.co.uk Land at Wilmer Place, Stoke Newington, London N16 0LH

HOME SUMMARY DESCRIPTION & LOCATION AERIAL APPROVED SCHEME POTENTIAL TERMS

SUMMARY

• Cleared site extending to approximately 0.7 acres, forming part of a wider regeneration scheme • Planning permission granted for a new build scheme comprising 8 x apartments for private sale and 13,972ft2 GIA of B1 office space • Pending application for a 100% residential scheme of 27 apartments totaling 21,237ft2 NIA within the same envelop of the approved scheme • Sought-after location just off Stoke Newington Church Street and circa 0.25 miles from Stoke Newington Overground Station • Offers invited in excess of £4,250,000 for the freehold interest www.kingsbury-consultants.co.uk Land at Wilmer Place, Stoke Newington, London N16 0LH

HOME SUMMARY DESCRIPTION & LOCATION AERIAL APPROVED SCHEME POTENTIAL TERMS

DESCRIPTION

The existing property comprises a former car park (now vacant), occupying a broadly L-shaped site extending to approximately 0.7 acres.

The site is bounded by Abney Park to the north and west, with a recently re-developed former shoe factory to the east, now comprising 35 apartments and a community building to the south.

Vehicular access to the property is taken off Wilmer Place which in turn is accessed from the northern side of Stoke Newington Church Street.

The property offers potential for comprehensive redevelopment to provide a fully residential or mixed-use scheme. LOCATION

The property is located on Wilmer Place in Stoke Newington, within the London Borough of Hackney.

The site is in close proximity to several public open spaces including Park, Abney Park and .

There are numerous shops, cafes, restaurants, bars and other amenities available nearby on Stoke Newington Church Street and Stoke Newington High Street.

The nearest station is Stoke Newington (located approximately 0.25 miles to the north) which provides London Overground services, including direct links to Liverpool Street in circa 15 minutes. www.kingsbury-consultants.co.uk Land at Wilmer Place, Stoke Newington, London N16 0LH

HOME SUMMARY DESCRIPTION & LOCATION AERIAL APPROVED SCHEME POTENTIAL TERMS

CLISSOLD PARK

ABNEY PARK

STOKE NEWINGTON

WILMER PLACE

STOKE NEWINGTON CHURCH STREET www.kingsbury-consultants.co.uk Land at Wilmer Place, Stoke Newington, London N16 0LH

HOME SUMMARY DESCRIPTION & LOCATION AERIAL APPROVED SCHEME POTENTIAL TERMS

APPROVED SCHEME APPROVED SCHEDULE

Planning permission was granted in February 2017, under reference 2016/3179, for Unit Floor Description GIA ft2 GIA m2 erection of a part 2, 3 and 4 storey building, comprising offices (Use Class B1) on ground and first floors totalling 13,972ft2 GIA, 8 residential units (5 x 2 bedroom and 3 x 3 bedroom Commercial apartments) totalling 7,295ft2 GIA and associated amenity space, 5 car parking spaces G01 Ground B1 Office Unit 2,260 210 (including 2 disabled spaces) and cycle and refuse stores to be accessed from Wilmer Place. G02 Ground B1 Office Unit 1,206 112 The planning approval is subject to a Section 106 Agreement providing for financial G03 Ground B1 Office Unit 1,206 112 contributions totalling £182,342 and obligations for part of the proposed office space (Unit G04 Ground B1 Office Unit 1,830 170 103 – 1,421ft2 GIA) to be designated as Affordable Workspace. A CIL liability of approximately £139,320 applies. 101 First B1 Office Unit 2,799 260 102 First B1 Office Unit 1,421 132 Based on recently sales (March 2017) within the neighboring former shoe factory scheme, residential values are in the region of £850- £900/ft2 . 103 First B1 Office Unit (Affordable) 1,421 132 104 First B1 Office Unit 1,830 170 Based on recent letting of similar create workspace within Hackney, rents of £30 - £40/ft2 are achievable. Sub-Total 13,972 1,298

Further information on projected values and comparable evidence can be found within our Residential dataroom. R01 Ground Three Bedroom Five Person Apartment 990 92 R02 First Three Bedroom Five Person Apartment 969 90 R03 Second Three Bedroom Six Person Apartment 1335 124 R04 Second Two Bedroom Four Person Apartment 915 85 R05 Second Two Bedroom Four Person Apartment 807 75 R06 Second Two Bedroom Four Person Apartment 807 75 R07 Third Two Bedroom Four Person Apartment 786 73 R07 Third Two Bedroom Four Person Apartment 786 73 Sub-Total 7,395 687 Grand Total 21,367 1,985 Indicative Visualisations www.kingsbury-consultants.co.uk Land at Wilmer Place, Stoke Newington, London N16 0LH

HOME SUMMARY DESCRIPTION & LOCATION AERIAL APPROVED SCHEME POTENTIAL TERMS

DEVELOPMENT POTENTIAL PROPOSED SCHEDULE

The site offers potential for comprehensive development with a fully residential scheme, Unit Floor Description NIA ft2 NIA m2 Tenure subject to obtaining the necessary consents. 1 Ground One Bedroom Two Person Apartment 538 50 Affordable 2 Ground One Bedroom Two Person Apartment 538 50 Affordable A planning application is pending which proposes the erection of a part 2, 3 and 4 storey 3 Ground Three Bedroom Five Person Apartment 958 89 Affordable building comprising 27 residential units (6 x 1 bedroom, 14 x 2 bedroom and 7 x 3 bedroom 4 Ground One Bedroom Two Person Apartment 581 54 Private apartments) totaling 21,237ft2 NIA. A policy compliant scheme is expected to deliver 10 5 Ground Two Bedroom Three Person Apartment 657 61 Private units for affordable housing (6 x social rent and 4 x shared ownership) leaving 17 open 6 Ground & First Three Bedroom Five Person Duplex 1141 106 Private market units totalling 15,177ft2 NIA. 7 Ground & First Three Bedroom Five Person Duplex 1141 106 Private This application is due to be submitted and a decision is expected in November 2017. 8 Ground Two Bedroom Three Person Apartment 657 61 Private 9 Ground Two Bedroom Three Person Apartment 657 61 Private A copy of the latest proposed plans are available within the dataroom. 10 Ground & First Three Bedroom Five Person Duplex 1141 106 Private 11 Ground Two Bedroom Four Person Apartment 786 73 Affordable 12 Ground Two Bedroom Four Person Apartment 753 70 Affordable 13 First One Bedroom Two Person Apartment 538 50 Affordable 14 First One Bedroom Two Person Apartment 538 50 Affordable 15 First Three Bedroom Five Person Apartment 958 89 Affordable 16 First One Bedroom Two Person Apartment 581 54 Private 17 First Two Bedroom Three Person Apartment 646 60 Private 18 First Two Bedroom Three Person Apartment 657 61 Private 19 First Two Bedroom Three Person Apartment 657 61 Private 20 First Two Bedroom Four Person Apartment 786 73 Affordable 21 First Two Bedroom Four Person Apartment 753 70 Affordable 22 Second Three Bedroom Six Person Apartment 1335 124 Private 23 Second Three Bedroom Six Person Apartment 1076 100 Private Indicative Ground Floor Plan 24 Second Two Bedroom Four Person Apartment 797 74 Private 25 Second Two Bedroom Four Person Apartment 797 74 Private 26 Third Two Bedroom Four Person Apartment 786 73 Private 27 Third Two Bedroom Four Person Apartment 786 73 Private Total 21,237 1,973 www.kingsbury-consultants.co.uk Land at Wilmer Place, Stoke Newington, London N16 0LH

HOME SUMMARY DESCRIPTION & LOCATION AERIAL APPROVED SCHEME POTENTIAL TERMS

TENURE

The property will be sold freehold subject to vacant possession on completion.

VAT

The property is elected for VAT.

TERMS

Unconditional offers are invited in excess of £4,250,000.

ADDITIONAL INFORMATION

Further information including planning documents for the residential and mixed-use schemes can be viewed in the dataroom using the access code ‘Wilmer’.

CONTACT To discuss any aspect of the property of disposal process, please contact the sole selling agents:

Ross Kemp 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.