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12-14 Bow Common Lane, Bow, London E3 4AX Residential Development Opportunity For Sale www.kingsbury-consultants.co.uk 12-14 Bow Common Lane, Bow, London E3 4AX
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
SUMMARY
• Two adjoining residential buildings comprising 3 apartments and 1 house
• Planning permission for a new build scheme comprising 9 residential units (3 x 1 bed, 3 x 2 bed & 3 x 3 bed apartments) totalling 6,922ft2 NIA
• Located close to Bartlett Park and Limehouse Cut Canal, and approximately 10 minutes’ walk from Mile End Central Line station
• Offers invited in excess of £1,850,000 for the freehold interest Recently Redeveloped with 30 Apartments www.kingsbury-consultants.co.uk 12-14 Bow Common Lane, Bow, London E3 4AX
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
DESCRIPTION
The existing property comprises two mid-terrace residential buildings comprising 3 apartments and 1 houses constructed over 2 and 3 storeys with land to the rear.
The buildings occupy a broadly rectangular site extending to circa 0.07 acres which is accessed directly from Bow Common Lane and bounded by new residential developments on both sides.
The property is one of the last undeveloped sites along Bow Common Lane and benefits from planning permission to create a contemporary development of 9 apartments in a highly desirable area of East London.
LOCATION
The property is located in the sought-after East London district of Bow, within the London Borough of Tower Hamlets. The site lies just north of the Limehouse Cut Canal.
The immediate area comprises mainly residential uses with Bartlett Park located approximately 100m from the property, providing 12 acres of open public space.
Langdon Park DLR station is located approximately 0.5 miles from property and offers direct services to Canary Wharf in approximately 6 minutes. The nearest Underground station is Mile End (approximately 0.9 miles to the north of the site) which provides direct Central Line services into Central London, including Liverpool Street in 5 minutes and Oxford Circus in 15 minutes. www.kingsbury-consultants.co.uk 12-14 Bow Common Lane, Bow, London E3 4AX
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
DEVELOPMENT POTENTIAL PROPOSED ACCOMMODATION SCHEDULE Planning permission was granted on 14th April 2016, under reference PA/16/00422, for demolition of the existing buildings and the construction of a new 6-storey building to provide 3 x 1 bedroom, 3 x 2 bedroom and 3 x 3 bedroom apartments with private amenity space and cycle storage. Unit Floor Description Amenity NIA ft2 NIA m2 All units will be for private sale with no requirement for Affordable Housing. We understand the planning consent is subject to a CIL liability of approximately £40,542.26. 1 Ground 3 Bedroom 6 Person Apartment Garden 114 1,227
The online planning application can be found here. 2 First 1 Bedroom 2 Person Apartment Balcony 53 570
3 First 2 Bedroom 3 Person Apartment Balcony 64 689 Sketch of Rear Facade 4 Second 1 Bedroom 2 Person Apartment Balcony 50 538
5 Second 2 Bedroom 3 Person Apartment Balcony 61 657
6 Third 1 Bedroom 2 Person Apartment Balcony 50 538
7 Third 2 Bedroom 3 Person Apartment Balcony 61 657
8 Fourth 3 Bedroom 5 Person Apartment Balcony 95 1,023
9 Five 3 Bedroom 5 Person Apartment Balcony 95 1,023
Total 643 6,922 www.kingsbury-consultants.co.uk 12-14 Bow Common Lane, Bow, London E3 4AX
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
TENURE
The property will be sold freehold and subject to vacant possession on completion.
VAT
We understand that the property is not elected for VAT.
TERMS
Offers are invited in excess of £1,850,000.
ADDITIONAL INFORMATION
Additional documents such as approved planning drawings can be found in our dataroom using the password ‘Bow’.
CONTACT To discuss any aspect of the property of disposal process, please contact the sole selling agents:
Jordan Oldfield 020 7183 2529 jordan.oldfieldkingsbury-consultants.co.uk
Keir Goldstein 020 7183 2529 [email protected]
Kingsbury 1st Floor, 81 Alie Street, London E1 8NH
DISCLOSURE: A Director of Kingsbury has a financial interest in the subject property
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.