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Land Adjoining Norbury Railway Station, Norbury Avenue, London SW16 4PA

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Land Adjoining Norbury Railway Station, Norbury Avenue, London SW16 4PA Land Adjoining Norbury Railway Station, Norbury Avenue, London SW16 4PA 4 x Affordable Rent Units Available Off-Plan in Streatham SUMMARY Opportunity to purchase 4 x affordable rent apartments off-plan (3 x 3 bed units & 1 x 4 bed unit) Subject site has planning permission in place for a contemporary new development comprising 12 apartments and a ground floor commercial unit (218sqm) Property extremely well located adjacent to Norbury train station, within the London Borough of Croydon We are seeking off-plan offers in excess of £825,000 for the long leasehold interest of the 4 completed affordable units The developer plans construction for Q3 of this year and is seeking offers from a social housing registered provider DESCRIPTION LOCATION The subject site currently comprises a cleared yard The site is located along Norbury Avenue in the measuring 0.21 acres (9,148sqft). Our client (the London Borough of Croydon. The property is developer) obtained detailed planning permission uniquely located adjacent to Norbury train station in March 2019 to redevelop the site and ‘construct entrance which will make the finished units highly a four-storey building comprising of 12 modern desirable to occupiers. apartments with balconies and a ground floor commercial unit (218sqm) benefitting from storage Norbury train station provides National Rail and distribution (B8) use.’ services to local commuters. Direct trains run on a regular service to both London Bridge (35-minutes) As part of the signed S106 agreement with Croydon and London Victoria (22-minutes). There is also council our client will be delivering 4 apartments access to regular bus services close by. (3 x 3 beds and 1 x 4 bed) for affordable rent tenure. Whilst our client will be retaining ownership of all other properties as part of their rental portfolio, we are seeking an RP partner to purchase the rent units off-plan on a long-leasehold basis. Construction is planned to start in Q3 of this year. PROPERTY ADDRESS Norbury Avenue, London SW16 4PA PLANNING The site received full planning permission from Croydon council in March 2019 under reference 18/04047/FUL for; ‘Construction of a four-storey building comprising of 12 flats with balconies and a ground floor commercial unit (218sq.m floorspace, Use Class B8 storage and distribution) with associated parking (for 7 cars), bicycle and refuse area; vehicles crossover, pedestrian footpath improvements, new landscaping including communal area.’ AFFORDABLE ACCOMODATION As part of the now signed S106 agreement, the scheme will provide 4 x apartments that will be made available as ‘affordable rent units’. The allocated units laid out over first and second floors and detailed as follows; Unit 01 (1st) 4 bed / 5p measuring 97sqm (1,044sqft) A detailed accommodation schedule, floor Unit 02 (1st) 3 bed / 4p measuring 74sqm (797sqft) plans, S106 and all supporting documentation Unit 06 (2nd) 3 bed / 4p measuring 74sqm (797sqft) is available upon request. Unit 07 (2nd) 3 bed / 4p measuring 74sqm (797sqft) TERMS We are inviting offers in excess of £825,000 for all 4 affordable rent units on a long-leasehold basis. Offers to be made on a turnkey basis with a 10% deposit pre-construction on exchange, and 90% payable on practical completion. Proposed first floor plan within the consented scheme 33 Queen Street London EC4R 1AP +44 (0) 207 299 4230 [email protected] www.henshallandpartners.co.uk Important Notice: Particulars: 1. These particulars are not an offer or contract, nor part of one. You should not rely on statements by Henshall & Partners in the particulars or by word of mouth or in writing (“in- formation”) as being factually accurate about the property, its condition or its value. Neither Henshall & Partners Ltd nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice. Henshall and Partners Ltd (Reg No:10712199). Registered address: Onega, 112 Main Road, Sidcup DA14 6NE..
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