Bradfield Road, West Silvertown E16 2AX
Offers in excess of £5,000,000
The existing property comprises a two-storey house with adjacent gardens and parking, along with a cleared strip of land to the north, extending to approximately 0.25 acres (0.10 hectares).
The site is bounded to the north by North Woolwich Road and to the south by Lyle Park and a site known as Deanston Wharf, which has planning consent for a mixed-use development totalling 769 residential units. To the west are several two-storey terraced houses which front Bradfield Road, and to the east lies an extensive mixed-use development known as Royal Wharf.
The site is located on the eastern side of Bradfield Road in West Silvertown, East London. Bradfield Road comprises a mix of two-storey residential terraced and semi-detached houses alongside industrial units. The Local Authority is the London Borough of Newham.
The development known as Royal Wharf by Ballymore / Oxley Holdings is situated approximately 200 metres to the east, while The Refinery, a 100% shared ownership scheme developed by Hollybrook Homes and operated by Southern Housing Group, is located approximately 50 metres to the west.
The immediate surrounding area is undergoing extensive regeneration through several mixed use developments and improvements in the public realm under the DLR.
West Silvertown DLR station located approximately 200 metres to the west, and Custom House DLR station approximately 800 metres to the north which will provide Crossrail services. This offers services to Canning Town (2 minutes) and Bank (18 minutes) to the west and London City Airport (4 minutes) to the east.
Planning & Development Potential
Planning permission has been granted on 20th February 2020 (reference: 19/00517/FUL) for the demolition of the existing house and comprehensive redevelopment to create a single building of twelve storey’s in height comprising 55 residential units (27 x 1 bedroom, 6 x 2 bedroom & 22 x 3 bedroom units) extending to approximately 38,906 sq.ft. NSA.
We understand that the proposed scheme is also subject to a CIL liability of approximately £469,238.69 and Section 106 payments amounting to circa £227,855 as well as a future Affordable Housing Contribution which is calculated via a late stage review mechanism.
Further information on the late stage review mechanism can be found in the S106 document within our dataroom.
An additional non-material planning application was granted on 10th March 2020 (reference: 20/00566/NONMAT) which moves the proposed building 2 metres to the north.
The property will be sold freehold with vacant possession on completion.
We understand that the property is elected for VAT.
Offers are invited for the freehold interest.
All relevant planning, technical and legal documents can be viewed and downloaded from the dataroom using access code ‘Bradfield’.
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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- Two-storey detached house with associated garden and land situated on a 0.25 acre site (0.10 hectares)
- Planning permission for a new build scheme comprising 55 residential units totalling a GIA of 5,221 sq.m. (56,204 sq.ft.) and residential NSA of 3,615 sq.m. (38,906 sq.ft.) with 35 units designated for private sale and 20 for affordable housing
- Sought-after location circa 200 metres from West Silvertown DLR Station
- Offers are invited in excess of £5,000,000 for the freehold interest
To discuss this opportunity further, please contact Jordan Oldfield or Ross Kemp at Kingsbury on 020 7183 2529 or Alex Soskin or Hugh Bushell at Savills on 020 7409 9993