FOR SALE

Seven Sisters Road, Finsbury Park N4 2PQ

Offers in excess of £4,500,000

Description

The existing property comprises a former hotel arranged over ground, first and second floors, with areas of hardstanding to the front and rear used for car parking. Vehicular access is taken from both Seven Sisters Road and Portland Rise.

The hotel ceased trading in December 2017 and is now vacant.

The building occupies a rectangular site of circa 0.25 acres which is bounded by Seven Sisters Road and Finsbury Park to the north-west, with residential properties on all other boundaries.

Location

The property is located on the corner of Seven Sisters Road and Portland Rise in Finsbury Park, within the London Borough of Hackney.

The immediate location comprises mainly residential uses, although several properties along Seven Sisters Road are operated as hotels or hostels. There are a number of shops, restaurants and other amenities located approximately 0.3 miles to the south-west of the site along Seven Sisters Road.

Finsbury Park is located directly opposite the property, providing 110 acres of public open space.

Manor House Underground Station is located approximately 0.2 miles from the property, providing Piccadilly Line services, including Holborn in under 15 minutes. Finsbury Park

Station is located approximately 0.5 miles from the property, providing London Underground and National Rail services.

Planning & Development Potential

Planning permission was granted 20th November 2017, under reference: 2016/4414, for the demolition of the existing hotel and the erection of a 5-storey (plus basement) building to provide 25 self-contained residential units.

The proposed development will comprise 5 x 1 bedroom, 11 x 2 bedroom and 9 x 3 bedroom apartments totalling 20,834 sq.ft. NIA.

The planning consent is subject to a Section 106 Agreement which obligates for 4 units to be designated as shared ownership and 4 units as affordable rent, alongside financial contributions totalling approximately £176,753.25. A CIL liability of approximately £72,718 is applicable (taking into account affordable housing relief).

Tenure

The property will be sold freehold and subject to vacant possession upon completion.

VAT

The property is not elected for VAT.

Terms

Offers are invited in excess of £4,500,000.

Additional Information

Further information including planning and legal documents are available within our dataroom using the access code ‘Majestic’.


Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.


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  • Former hotel and associated land occupying a site of circa 0.25 acres
  • Planning permission for a 5-storey (plus basement) new build scheme comprising 25 residential apartments (5 x 1 bed, 11 x 2 bed & 9 x 3 bed units) totalling 20,834 sq.ft. NIA
  • 17 apartments for private sale with 8 designated for affordable housing (4 x shared ownership and 4 x affordable rent)
  • Sought-after residential location directly opposite Finsbury Park and circa 0.2 miles from Manor House Underground Station
  • Offers invited in excess of £4,500,000 for the vacant freehold interest

To discuss this opportunity further, please contact Keir Goldstein or Paul Heale on 020 7183 2529

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