8 New Apartments for Hoxton
The prime residential market has slowed over the last 18 months, particularly in many areas of London where a combination of post-Brexit austerity, high Stamp Duty and general unaffordability has reduced prices and rate of sale.
Despite this, there are still developers seeking land opportunities in parts of the Capital where values exceed £1,000 per ft², although the key is focusing on delivering quality schemes which attract the end users who can afford such prices.
95-97 East Road is situated in the heart of Hoxton, just around the corner from Old Street and City Road, an area where values for newly built apartments generally range from £950 – £1,300 per ft².
The site has planning permission to develop an 8-storey plus basement building to create 8 apartments (a mix of two and three bedroom units) across 7,833ft² NSA. The scheme has been thoughtfully designed to provide excellent accommodation with one apartment on each floor which will benefit from panoramic views, private terraces and open plan kitchen / living areas.
Even though the price-point would be some way above Help-to-Buy levels, the high quality design and location of the proposed development attracted strong interest and we received a number of competitive offers around our guide price of £3,700,000. The property was sold to an East London developer within an overall period of 10 weeks from the start of marketing until completion.
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- Sold for £3,700,000
- 95-97 East Road Hoxton London N1 6AW
- Planning permission for 8 apartments
- Fully private scheme of 2 and 3 bedroom units
- Sought-after East London location