Closing Time at The British Queen
The British Queen on New Wanstead closed down several years ago due to dwindling trade and was acquired from the brewery on an unconditional basis.
Planning permission was subsequently achieved for two separate residential schemes of 10 and 12 units respectively, involving conversion of the existing pub (into either 2 houses or 4 duplex apartments) with a new build block of 8 apartments on the large car park area.
Residential values in Wanstead have risen rapidly in recent years and it is now considered one of the most desirable locations in East London, which was reflected in the interest received when we marketed the site.
A sale was agreed to a local developer shortly into our marketing period and contracts exchanged at more than 10% above our £2,500,000 guide price. Construction will begin shortly and the apartments are expected to be ready later in 2017.
Kingsbury are market leaders in the sale of residential development sites; please contact us if you have a similar property which you are considering a sale of.
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- Sold for £2,800,000
- 63 New Wanstead London E11 2SA
- Former Public House
- Planning permission for 10 or 12 residential units
- Sought-after area undergoing wide-spread regeneration
- Sold for 10% above guide price
Kingsburys track record with these types of office buildings speaks for itself, and this experience was apparent when advising us on the most beneficial route to take to achieve a sale