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Factory Yard Hanwell, W7

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Factory Yard Hanwell, W7 Land and New Homes Sales and marketing proposal summary Prepared by Joe Badby Residential Development John East FNAEA , Director Land and New Homes August 2019 Factory Yard Hanwell W7 Development Executive summary The proposed development at Factory Yard, Hanwell is a solely private development. The existing planning granted is for a 3—storey (plus basement) building that provides 9 apartments, four 1 bedroom and five 2 bedroom flats with all with private amenity space. Location Factory Yard is located just off of Uxbridge Road and has excellent access to Hanwell High Street, Ealing and numerous parks the best of which is Brent Lodge Park. The nearest station is Hanwell Railway Station, which is under half a mile away only a nine minute walk. Hanwell Station is well connected, only three stops to Paddington Station taking twelve minutes. Hanwell’s connectivity will improve dramatically with the phased opening of Crossrail in 2020. Four Elizabeth line trains an hour will increase frequency in addition to significantly cutting journey times to key transportation hubs across London. Appraisal Unit Floor Beds Amenity Sqm Sqft Price £/sqft G.1 LG & G 2 Terrace 83.1 894 £585,000 654 G.2 LG & G 2 Terrace 83.1 894 £585,000 654 G.3 Ground 2 Terrace 82.7 890 £595,000 668 1.1 First 1 Balcony 53.4 575 £415,000 722 1.2 First 1 Balcony 53 570 £415,000 727 1.3 First 1 Balcony 52.6 566 £415,000 733 1.4 First 1 Balcony 51.9 559 £410,000 734 2.1 Second 2 Terrace 86.8 934 £600,000 642 2.2 Second 2 Terrace 95.5 1,028 £625,000 608 6,912 £4,645,000 672 The above prices are provided as a guide only and do not constitute a formal valuation. They are based on current market conditions and are subject to change due to market fluctuation. They are given in the course of our estate agency role and no liability is accepted by Kinleigh Folkard & Hayward for use by any party. Expected buyer profile Based on our experience in this market, we expect the development’s target audience to be young professional singles and couples aged between 25 and 45, currently living in London. Many would be first time buyers looking to utilise the Help to Buy scheme. Comparables 28a Laurel Gardens, W7 3JG – Located just off of Hanwell High Street this 462 sqft 1 bedroom conversion sold in October 2018 for: £337,000 (£729 per sqft) 15 Montague Road, W7 3PG – A small 493 sqft 1 / 2 bedroom period conversion flat. The first floor property sold in July 2019 for: £395,000 (£801 per sqft) 16a Jessamine Road, W7 3SQ – A two double-bedroom, newly refurbished first floor Victorian conversion. The small flat which features an open plan kitchen / reception room is 503 sqft and was sold in October 2018 for: £432,000 (£858 per sqft) 83a Church Road, W7 3BH - A charming two double-bedroom part lower ground floor flat, a short walk from Hanwell Station. The 945 sqft apartment comes with access to a shared garden and has one off street parking space. The property sold in July 2018 for: £548,265 (£580 per sqft) 13 Brentmead Close, W7 3EW - A tired two double-bedroom maisonette with a private rear garden. The 646 sqft property is short walk from Brent Lodge Park. The flat was sold September 2018 for: £425,000 (£657 per sqft) Other notable comparable 75b St Marks Road, W7 2PN – A small gated development set back from the road. The 3 bedroom flat totals 1,044 sqft and sold in March 2019 for: £645,000 (£617 per sqft) Kinleigh Folkard & Hayward Kinleigh Folkard & Hayward group KFH is one of London’s largest property services groups and sells more property in the Capital than any other agency. Since its formation in 1977, the company has grown and diversified to provide a comprehensive range of services to the London property market including: • Residential sales • Land and new homes • Residential lettings and management • Block and estate management • Chartered surveyors • Commercial sales, lettings and management • Financial services KFH Land and new homes The KFH land and new homes team has extensive experience selling new homes across London. We are currently marketing more than 40 new developments across the Capital with a broad client base including major national housebuilders that are household names, as well as small and medium sized development companies. This team will ensure that: • Advertising and marketing material provides a consistent and relevant message for your development to attract buyers from the locality and across London • There is liaison with the local KFH branch network that will be supporting the marketing of this development We believe that our market position, expertise, local knowledge and access to buyers throughout London make us the ideal development partner for this project. .
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