4-14 SPURSTOWE TERRACE HACKNEY, LONDON, E8 1LT FREEHOLD MIXED-USE PART BUILT DEVELOPMENT OPPORTUNITY FOR SALE ON BEHALF OF ADMINISTRATORS EXECUTIVE SUMMARY A freehold mixed-use part built development opportunity for sale on behalf of administrators. The site is being sold with the benefit of planning permission for the development of the existing site and creation of a mixed- use building comprising of two commercial units (B1 office) at ground floor level and 24 flats above, 20 of which are private. The affordable element comprises of 2 x 1 bedrooms and 2 x 2 bedroom apartments. Two are affordable rented and two are shared ownership. Proposed Commercial area of 2,928 sq ft. Proposed Net Saleable Private 16,167 sq ft. Proposed Net Saleable Affordable 2,798 sq ft. SPURSTOWE TERRACE, HACKNEY, LONDON, E8 2 LOCATION The site is located on Spurstowe Terrace in the London Borough of Hackney. Extremely well located in terms of transport links with Hackney Downs (located 200 yards away) and Hackney Central (0.3 miles away) Overground lines providing direct access to Liverpool Street Station within 15 minutes. There are also several bus routes nearby providing access to locations such as Marble Arch, Baker Street and Euston. THE SITE The property has an abundance of amenities located on its doorstep with a Tesco’s located closeby as well as Hackney High Street being 0.3 miles away with occupiers including TK Maxx, Marks and Spencer, McDonald’s, Boots and Costa Coffee present. The site is well located for green space with Hackney Downs under half a mile away. NOTE:- Reproduced from the Ordnance Survey Map. Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. SPURSTOWE TERRACE, HACKNEY, LONDON, E8 3 LOCATION 1. L’Entrepot: Local favourite. Bar and snacks from Tuesday to Sunday. HACKNEY 2. Palm Vaults: Local independent café. DOWNS 10 3. Pacific Social Club: Hip local café with excellent coffee. 4. Lardo: Industrial chic pizzeria for brunch, drinks and Italian small plates. 5. e5 Bakehouse: Renowned artisan bakery and coffee house. 6. Pidgin: Tiny award-winning restaurant where the menu changes weekly. 3 7. Raw Duck:Ent eAllrtain daym ediningnt with a Mediterranean influence. Transport 16. Hackney Empire: Major London live music, Hackney Downs: London Overground 8. HashE8: Fabulous British diner/modern greasy spoon serving Brunch all day long 9 theatre and comedy venue. (8 minutes to Liverpool St.) 2 HACKNEY DOWNS 17. London Fields Lido: Outdoor 50m public 1 9. The Pembury Tavern: Local institution taken over by Hackney’s Hac kownney C Fiveentr aPointl: Lon dBrewingon Overg rCo.ound DALSTON KINGSLAND poolwithsunterraceandcafé. (8minutesto Stratford) THE SITE 8 10. The Star18. by Ha ckHackneyney Pictu rDowns:e House: ITrendyndepend pubent with DJ sessions. Dalston Kingsland: London Overground cinemawithalldaycafébar. 12 19 Dalston Junction: London Overground 11. Prince 1George:9. O slo: Li vAnothere music v enuelocal ifavouriten a former –rail shabby-chicway cool. DALSTON station. (6 minutes to Shoreditch High St.) HACKNEY CENTRAL 12. Prince 2Arthur:0. The In sVictoriantitute of L ipubght: Iservingndepen dlocalent c beersinema ,and great food. London Fields: London Overground 16 restaurant, bar and vinyl store. DALSTON JUNCTION 21 9 13. Duke of21 .Richmond: The Victoria: PuRestoredb and liv eneighbourhood music room with pub and dining from Tom Oldroyd. 11 6 15 a long tradition and a focus on rum. 14. The Taproom: Local pub brought to you by the London Fields Brewery. 18 12 15. The Spurstowe Arms: Popular, relaxed local serving great food. 4 7 HACKNEY 16. Hackney Empire: Major London live music, theatre and comedy venue. 13 LONDON 17. London Fields Lido: Outdoor 50m public pool with sun terrace and café. FIELDS 18. Hackney Picture House: Independent cinema with all day café bar. 17 LONDON FIELDS 19. Oslo: Live music venue in a former railway station. 5 20. The Institute of Light: Independent cinema, restaurant, bar and vinyl store. 21. The Victoria: Pub and live music room with a long tradition and a focus on rum. 20 14 LIVERPOOL STREET 8 MINUTES All distances and travel times taken from Google Maps (www.google.co.uk/maps) and (TfL tfl.gov.uk/) SPURSTOWE TERRACE, HACKNEY, LONDON, E8 4 THE SITE The subject site is a part complete scheme which benefits from planning permission for the “erection of a 5 storey (including partial basement level) mixed use commercial and residential building comprising 2,928sqft of B1 (Business) floorspace at ground level and 24 residential units above (7x1 bed, 10x2 bed and 7x3 bed)”. The development is part built with the original contractor no longer on site and purchasers are recommended to carry out their own due diligence on the cost to complete works. SPURSTOWE TERRACE, HACKNEY, LONDON, E8 5 ACCOMODATION SCHEDULE Unit Floor Beds Amenity Sqm Sq Ft Tenure B1 Ground - External Area 100 1,076 Commercial B1 Ground - External Area 172 1,851 Commercial 1 Ground 2 Garden 76 818 Affordable Rent 2 Ground 1 Garden 51 549 Affordable Rent 3 1st 2 Balcony 73 786 Private 4 1st 1 Balcony 53 570 Private 5 1st 2 Balcony 78 843 Private 6 1st 2 Balcony 80 861 Shared Ownership 7 1st 1 Balcony 53 570 Shared Ownership 8 1st 3 Balcony 82 881 Private 9 2nd 2 Balcony 73 786 Private 10 2nd 1 Balcony 53 570 Private 11 2nd 2 Balcony 78 843 Private 12 2nd 2 Balcony 78 843 Private 13 2nd 1 Balcony 52 560 Private 14 2nd 3 Balcony 82 881 Private 15 3rd 2 Balcony 73 786 Private 16 3rd 1 Balcony 53 570 Private 17 3rd 2 Balcony 78 843 Private 18 3rd 2 Balcony 78 843 Private 19 3rd 1 Balcony 52 560 Private 20 3rd 3 Balcony 82 881 Private 21 4th 3 Terrace 114 1,227 Private 22 4th 3 Terrace 86 926 Private 23 4th 3 Terrace 86 927 Private 24 4th 3 Terrace 103 1,109 Private Total 2,043 21,892 SPURSTOWE TERRACE, HACKNEY, LONDON, E8 6 FLOOR PLANS Basement Ground Floor Copyright © POD Architects 2014 89 Copyright © POD Architects 2014 89 SPURSTOWE TERRACE, HACKNEY, LONDON, E8 7 FLOOR PLANS First Floor Second Floor Copyright © POD Architects 2014 90 Copyright © POD Architects 2014 90 SPURSTOWE TERRACE, HACKNEY, LONDON, E8 8 FLOOR PLANS Third Floor Fourth Floor Copyright © POD Architects 2014 91 Copyright © POD Architects 2014 91 SPURSTOWE TERRACE, HACKNEY, LONDON, E8 9 CONTACT For further information please contact: VANDERMOLEN REAL ESTATE TENURE The site is being sold freehold with the benefit of vacant possession. Jonathan Vandermolen [email protected] 0207 290 2828 PLANNING 0783 150 9965 A planning application was approved in March 2015, planning reference (2014/2565) for the “Demolition of existing building and erection of a 5 storey (including partial basement level) mixed use commercial and residential building comprising Sam Phillips 2,928sqft of B1 (Business) floorspace at ground level and 24 residential units above (7x1 bed, 10x2 bed and 7x3 bed).” [email protected] 0203 971 6066 Further plans and information can be found by clicking here. 0795 634 1581 CIL & SECTION 106 We have been advised that all payments have been made. VAT To be confirmed PRICE We are guiding offers in excess of £7,500,000 subject to contract. METHOD OF SALE The property is for sale by way of private treaty on behalf of administrators. FURTHER INFORMATION Further plans and information are available on the data room, click here. The Misrepresentation Act 1967. Vandermolen RE for themselves and for vendors or lessors of this property, whose agents they are, gives notice that: 1 The particulars are produced in good faith, but are a general guide only and do not constitute any part of a contract. 2 No person in the employment of the agent(s) has any authority to make or give any representation or warranty whatsoever in relation to this property. 3 The property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT. 4 Nothing in these particulars should be deemed a statement that the property is in good condition, or that any services or facilities are in working order. 5 Unless otherwise stated, no investigations have been made regarding pollution, or potential land, air or water contamination. Interested parties are advised to carry out their own investigations if required. June 2020.