114 GROSVENOR AVENUE

CANONBURY

LONDON

N5 2NY

RARE FREEHOLD DEVELOPMENT OPPORTUNITY

FOR SALE

ON BEHALF OF:

SUMMARY

 Detached freehold building dating from the mid-1800s

 Situated in the leafy New Park Conservation area  Planning consent for conversion into 4 residential apartments  Near to excellent transport, retail and leisure amenities including ’s Upper Street  Seeking offers in excess of £1,500,000 exclusive, subject to contract

LOCATION COMMUNICATIONS

The property is located at the western end of Grosvenor Avenue, close to the The building is located close to excellent transport links. Overground junction with Highbury New Park and within the Highbury New Park Station is a short walk away and provides swift access to many popular locations, Conservation Area. This is a particularly attractive part of Islington, characterised including and Stratford in approximately 15 minutes. by detached and semi-detached mid Victorian properties, with streets and avenues lined with mature trees. Access to the City of London, the West End, King’s Cross / St Pancras and the East End is provided by nearby Highbury & Islington Station, situated

The restaurants, shops and bars of Upper Street are approximately half a mile approximately ten minute walk away. The station benefits from Underground, away to the West, however a number of excellent pubs and local shops are Overground and National Rail connections. The Victoria Line provides direct within a short walk of the property. Stoke Newington is less than half a mile to access to King’s Cross and beyond to the central West End. The Overground the East and offers an eclectic mix of independent restaurants and shops. service (also at Canonbury Station) provides access to Stratford, Dalston and Highbury Fields is approximately a 5 minute walk away. Islington’s largest and Shoreditch to the East, Hampstead and down to Richmond to the West. Direct most popular park, it offers a range of sporting facilities and is surrounded by access to the City and ‘Tech City’ is provided by regular First Capital Connect stunning Georgian terraces. Services.

Highbury & Islington Station – Approximate Journey times

Victoria Line – Journey times . King’s Cross / St Pancras Station– 2 minutes . Oxford Circus Station– 7 minutes . Station – 9 minutes . Victoria Station – 11 minutes

Overground – Journey times . Dalston Junction Station – 4 minutes . Stratford Station – 15 minutes

. Shoreditch High Street Station – 22 minutes

National Rail Services – Journey time . Old Street Station – 5 minutes . Moorgate Station – 7 minutes

© OpenStreetMap contributors”http://www.openstreetmap.org/copyright

DESCRIPTION

114 Grosvenor Avenue is a mid-Victorian detached building, originally built as a residence. The building was previously used as a residential children’s home and more recently as an office and meeting place by LB Islington’s Children’s Services. The site comprises a stunning detached Victorian villa of three storeys plus basement level, together with a single storey bay on the western side of the building. The building is typical of the location and period being constructed from yellow London stock brick. The windows on the front façade have white stucco surrounds, with the ground floor windows also benefitting from pillar detailing. The property benefits from good ceiling heights, in particular the ground floor which measures up to approximately 3.65 m.

The building is set back from the Grosvenor Avenue pavement by a garden and low boundary wall. Access to the property is via a gateway that leads to a front door accessed by steps. In addition there is a separate access at the front of the property that leads down to the basement level. There is a substantial yard / garden area to the rear. The site measures approximately 570 sq m (6,130 sq ft). Some areas of the garden boundary wall appears to require repair and may be undermined by mature tree roots. There is historic evidence of rotation of the bay structure away from the main structure, although the bay has been restrained with six ties and plates. All parties should undertake their own investigations.

PLANNING Application No: P2013/2885/FUL Planning has been granted (September 2014) for a change of use from Use Class C2 to 4 residential flats (Use Class C3) comprising 1 x 1 bedroom flat, 2 x2 bedroom flats and 1 x 3 bedroom flats, new windows and staircase to rear elevation, provision of 12 no. cycle spaces and bin storage area to eastern elevations.

Current Floor Area (Approximate Gross Internal Area)

*Please note there is a sealed off area at basement level totalling approx. 527 sq. ft. Ceiling height is approx. 1.165m. It is believed this is a former coal store.

Estimated Net Sales Areas The planning consent provides the following*:

*Please note these are Gross Internal Areas of each proposed unit provided by HTA Design LLP

Affordable Housing Contribution

It is understood an affordable housing contribution applies to this scheme in the sum of £50,000 per residential unit (total of £200,000). All interested parties should make their own enquiries to confirm this information.

Community Infrastructure Levy (CIL) Liabilities It is understood the following CIL liabilities are applicable: London Borough of Islington CIL - £137,617.50 Mayoral CIL - £27,646.92 Total - £165,264.42

Proposed Garden Layout

Please note these plans are not to scale TENURE Freehold VIEWINGS & FURTHER USE INFORMATION LBI Planning Department has informed us the current Use Class is C2 Strictly by appointment through sole agents: (Residential Institutions). Garden

PLANNING Please see previous pages for further details. The property is in the Highbury New Park Conservation area. The property might be suitable for

alternative uses, such as B1 Office use, subject to gaining planning permission and any other necessary consents.

VAT We are advised that the property is not elected for VAT. All interested parties should make their own enquiries with Islington Council to confirm this. John Giblin [email protected] BUSINESS RATES

The property is currently elected for business rates. Nichola Pughe [email protected] Rateable Value: £31,250 UBR (2015/2016): 0.493 Approximate Business Rates Payable: £15, 406.25 Tel: 0207 749 1041

All interested parties should make their own enquires with The London www.coppingjoyce.co.uk Borough of Islington to confirm this information.

EPC The building has been rated 77 which equates to a score of D.

PROPOSAL

Subject to contract, we are instructed to seek unconditional offers in excess of £1,500,000 (One Million Five Hundred Thousand Pounds) exclusive Misrepresentation Act 1967: Copping Joyce Surveyors Limited for themselves, for any joint agents and for the vendors, lessors or assignors of this property whose agents they are given notice that: (i) The particulars are set out as a general guide only for the guidance of intending purchasers or lessees and do not constitute, nor constitute part of, an offer or contract (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them.(iii) No person in the employ of Copping Joyce Surveyors Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property (iv) All rentals and prices are quoted exclusive of VAT(v) All plant, machinery, equipment, services and fixtures and fittings referred to in these particulars were present at the date of publication. They have however not been tested and therefore we give no warranty as to their condition or operation. September 2015.