Cross Lane, Hornsey N8 7SA
Offers are invited
The property comprises a collection of light industrial buildings, including offices and workshops, which extend to approximately 6,558 sq.ft. positioned on a 0.5 acre site.
The site incorporates a car park area which provides parking for numerous vehicles, as well as areas of hard-standing surrounding the buildings that allow for further parking. The property can be accessed via Cross Lane.
The property is currently vacant and not subject to any lease agreements.
The property is located on Cross Lane, Hornsey within the London Borough of Haringey.
The immediate area comprises a mixture of residential and commercial uses and is currently undergoing significant regeneration. Smithfield Yard adjoins the site and will provide 69 new build apartments with Smithfield Square located within walking distance of the site.
Alexandra Park and Alexandra Palace are within walking distance of the property (500m) offering 197 acres of parkland and open space.
The nearest train station is Hornsey (0.3 miles) providing National Rail services into London Moorgate in 18 minutes and Finsbury Park in 4 minutes.
Planning & Development Potential
A resolution to grant planning permission was given at committee (HGY/2020/1724) for the demolition of the existing buildings and erection of 2 x buildings of 5 stories (Block A) and 6 storeys (Block B) to provide 50 residential apartments (16 x 1 bed, 23 x 2 bed and 11 x 3 bed units) totalling 36,608 sq.ft. and a ground floor flexible commercial unit (Class E) extending to approximately 2,013 sq.ft.
The planning consent is subject to a Section 106 Agreement with obligations for 6 apartments (1 x 1 bed, 2 x 2 bed and 3 x 1 bed units) to be delivered as London Affordable
Rent and 7 apartments (2 x 2 bed and 5 x 3 bed units) to be Shared Ownership. The S106 also contains financial obligations totalling £215,000.
A CIL liability of approximately £1,027,664.75 is payable. Please note that this is an indexed estimate as at March 2021 and should not be relied upon, any prospective purchasers should undertake their own analysis.
The property will be sold freehold and subject to vacant possession upon completion.
The property is not elected for VAT.
Offers are invited for the freehold interest.
Further information including planning documents and technical documents are available in the dataroom using access code ‘Cross‘.
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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- Car repair centre and associated land positioned on a 0.5 acre site
- Resolution to grant planning permission for 50 x residential apartments (13 for Affordable Housing) across two blocks totalling 36,608 sq.ft. and a ground floor commercial unit of 2,013 sq.ft.
- Popular North London location within walking distance of Alexandra Palace and Hornsey train station
- Offers are invited for the freehold interest
To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529