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798-804 Holloway Road & 1A Giesbach Road Archway

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798-804 Holloway Road & 1A Giesbach Road Archway 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD ARCHWAY, LONDON, N19 3JH NORTH LONDON MIXED USE REDEVELOPMENT OPPORTUNITY FIRST TIME THE PROPERTY HAS BEEN MARKETED IN OVER 80 YEARS 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD, ARCHWAY, LONDON, N19 3JH CGI of Proposed Development OPPORTUNITY SUMMARY r Landmark development opportunity located in Archway, North London r Planning consent granted for a comprehensive redevelopment to comprise: r Very prominent location on Holloway Road, diagonally opposite Archway underground station - Ground floor and basement retail (A1), extending to approx. 6,436 sq ft (Northern Line) - First floor B1 offices, extending to approx. 3,337 sq ft NIA r Existing A1 retail with ancillary residential above, totalling 10,661 sq ft, on a site extending to - Second to fourth floors, private residential, comprising of 9 units, extending to 6,663 sq ft NSA 0.112 acres r Offers are invited in excess of £5.25m r Freehold for sale with vacant possession 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD, ARCHWAY, LONDON, N19 3JH ST JOHN’S WAY ARCHWAY STATION GIESBACH ROAD SUBJECT PROPERTY HOLLOWAY ROAD 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD, ARCHWAY, LONDON, N19 3JH LOCATION & SITUATION Archway is located approximately 3 miles north of Central London in a mixed commercial, retail and residential area. Archway London Underground station (Northern line) is approximately 92 metres just to the north providing services to the City and West End of London within a travel time of 20 minutes. SUBJECT PROPERTY Upper Holloway Overground Station is about 600 metres to the south. Numerous bus routes serve the local area. The location benefits from a wide variety of local retail and leisure occupiers on both Holloway Road and Junction Road to the west and north west. The area has recently benefited from a £12.5m project, re-modelling the Archway gyratory which incorporated a newly pedestrianised piazza immediately to the east of Archway station. The area is currently experiencing significant developer and investor interest both in the commercial and residential sectors, notably including the refurbishment of the former Archway Tower by Essential Living delivering 117 flats for the private rented sector. The subject property is located on the corner of Holloway Road and Giesbach Road. Holloway Road comprises a mix of commercial, educational and residential uses with local occupiers. 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD, ARCHWAY, LONDON, N19 3JH DESCRIPTION The property was originally constructed in 1910 and currently comprises of a ground and basement retail unit with residential use in the now vacant upper parts arranged over first and second floors. The site extends to 0.112 acres. EXISTING FLOOR AREAS Floor Area (sq ft) Basement 378 Ground 4,570 First 4,281 Second 1,432 Total 10,661 Title Plan 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD, ARCHWAY, LONDON, N19 3JH PROPOSED DEVELOPMENT PLANNING & ENVIRONMENTAL Consent was granted on 6th January 2017 (REF: P2016/4529/FUL) for the demolition of the The property falls within the London Borough of Islington. existing building and erection of a four storey building to comprise A1 retail on ground and basement levels, B1 office on first floor and 9 residential units on second, third and fourth floors The property is not listed and not in a conservation area. (4 x 1 beds, 4 x 2 beds and 1 x 3 bed). The planning approval is subject to a Section 106 agreement with contributions and CIL, totalling £413,000. In March 2017 a resolution to grant was passed at planning commitee, but not implemented, for 13 residential units above 6,000 sq ft of ground and basement commercial. Further details upon request. CONSENTED ACCOMODATION SCHEDULE Floor Use NIA (sq ft) Basement Retail 3,175 Ground Retail 3,261 First Office 3,336 Second Residential 2,637 Third Residential 2,637 Fourth Residential 1,388 Total 16,164 RESIDENTIAL ACCOMODATION Floor Beds Area (sq ft) Second 1 538 Second 1 538 Second 2 796 Second 2 764 Third 1 538 Third 1 538 Third 2 796 Third 2 764 Fourth 3 1,388 Proposed second floor plan. NORTH 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD, ARCHWAY, LONDON, N19 3JH FURTHER DEVELOPMENT POTENTIAL It is considered that there is further significant scope to redevelop the property. The property has the potential to extend and increase the massing beyond the existing consented scheme, subject to obtaining the necessary consents. THE VISION FOR ARCHWAY “Extensions to existing buildings or new buildings away from the site of the Archway Tower should generally remain in the height range of four to five storeys with scope to rise to 6-8 The regeneration of the Archway area is a long held desire of Islington Council. Works have storeys to mark junctions or gateways where appropriate. All development will need to recently finished on a £12.5m project to remove the gyratory system at Archway roundabout. comply with the Council’s existing guidance note for Building Heights (June 2005)”. It includes a new public space, more cycle lanes and pedestrian crossings. The subject property sits at the entry to the borough and the site has been identified as “the In 2007 a Supplementary Planning Document (SPD) was produced by Islington Council and gateway to Islington”. It is in our opinion that the property offers potential for alternative uses under the scale and massing section, makes reference to the following: such as a hotel or student accommodation, subject to obtaining the necessary consents. Furthermore, there may be potential to vary the current planning permission to create a scheme which has a bigger massing. 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD, ARCHWAY, LONDON, N19 3JH CGI of Proposed Development 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD, ARCHWAY, LONDON, N19 3JH EPC The property has the following EPC rating “C” (64). The certificate and supporting documents are available upon request. VAT The property is elected for VAT, therefore VAT will be applicable. TENURE Freehold with vacant possession. VIEWING Viewings are strictly by appointment. Please contact the joint sole agents to arrange a viewing. PROPOSAL We are instructed to seek offers in excess of £5,250,000 (FIVE MILLION, TWO HUNDRED AND FIFTY THOUSAND POUNDS), subject to contract and exclusive of VAT. Our client would consider buying back the commercial element as part of the transaction. A data room has been set up. Further details upon request. CONTACT For further information please contact the joint sole agents: 1 Portland Place 1st Floor, 81 Alie Street London W1B 1PN London E1 8NH Tel: 020 7631 1202 Tel: 020 7183 2529 www.finnandcompany.co.uk www.kingsbury-consultants.co.uk Mathew Finn [email protected] Ross Kemp [email protected] Charles Curtis [email protected] Keir Goldstein [email protected] Ali Rana [email protected] Tom Kerins [email protected] Misrepresentation Act: Finn & Company and Kingsbury for themselves and for the vendors of these properties whose agent they are give notice that:1. These particulars do not constitute, nor constitute any part of the offer for sale or contract for sale. 2. All statements contained in these particulars as to these properties are made without responsibility on the part of Finn & Co and Kingsbury or the vendors or lessors. 3. None of the statements contained in these particulars as to these properties are to be relied on as statements or representations of fact. 4. Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 5. Any plans or photographs or drawings shown in these particulars are to enable prospective purchasers or tenants to locate the properties. The plans are photographically reproduces and therefore not to scale except where expressly stated. The plans or photographs or drawings are not intended to depict the interest to be disposed of. Where location plans are based on Ordnance Survey maps this is with the consent of HM Stationery Office, Crown Copyright Reserved. 6. No warranty or undertaking is given in respect of the repair or condition of the properties or any items expressed to be included in the sale. 7. Any properties or drawings of the relevant properties or part thereof or the neighbouring areas may not depict the properties or the neighbouring areas at the date a prospective purchaser or tenant inspects the brochure. Prospective purchasers or tenants are strongly advised to inspect the properties and neighbouring areas. 8. Finn & Company and Kingsbury have not measured the properties and have relied upon clients information. Therefore Finn & Co and Kingsbury give no warranty as to their correctness or otherwise and the purchasers must rely on their own measurements.9. All terms quoted are exclusive of value added tax unless otherwise stated. 10. The vendors do not give and neither Finn & Co and Kingsbury nor any person in their employment has any warranty whatsoever in relation to these properties. 11. These details are believed to be correct at the time of compilation but may be subject to subsequent amendment. 12. These details were prepared as of August 2017. 798-804 HOLLOWAY ROAD & 1A GIESBACH ROAD, ARCHWAY, LONDON, N19 3JH.
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