Summary

- A 0.2 acre site benefiting from planning permission for 20 new build apartments

Brief description

- The property comprises a 0.2 acre site currently occupied by a car sales business.

Planning & development potential

The site benefits from planning permission, approved at committee on 21st July 2014, under reference 14/00321/ful, for the demolition of the existing building and the construction of 20 new apartments (8 x 1 bed, 5 x 2 bed, 7 x 3 bed) within a 5 storey block.

The consent is Subject to a Section 106 Agreement which provides for 3 Affordable Rented units (2 x 3 bed and 1 x 2 bed) and financial contributions of £100 000, which payable upon occupation of the 10th unit.

Note that Newham cil of £91 600 and a Mayoral cil of £22 900 is applicable.

Location

The site is located on the corner of Leytonstone Road and Maryland Street in Stratford, within the London Borough of Newham. The surrounding area comprises a mix of residential and commercial users.

Maryland Station, which is a proposed destination for Crossrails, is located within 2-5 minutes walking distance from the site. Stratford town centre and station (National Rail, London Underground, DLR and International Services) is a short walking distance away too.

Tenure

The property will be sold Freehold and Subject to Vacant possession on Completion.

Vat

We understand that the property is not elected for vat.

Terms

Offers are invited in excess of £2 300 000

Additional information

Further information including approved planning documents can be provided on request.