East Road, Hoxton N1 6AW
Offers in excess of £3,400,000
The existing property currently comprises a residential block of 3 self-contained apartments across 4 storeys (plus basement).
The site area extends to approximately 1,313 sq.ft. and occupies a prominent corner position with frontages on to East Road, Nile Street and Allerton Street.
The site adjoins the Hoxton Nine development (comprising 9 apartments plus commercial space), which was completed in Q1 2017.
The site is situated on the western side of East Road (A1200) in the fashionable East London district of Hoxton. The Local Authority is the London Borough of Hackney.
The immediate area comprises a mix of residential (including recently built, high-quality developments), offices and retail uses. Shoreditch, Old Street and the City of London are all within walking distance of the property.
The nearest station is Old Street (approximately 0.3 miles to the south of the property) which offers London Underground (Northern Line) and National Rail services. Both Hoxton and Shoreditch High Street stations are located circa 0.8 miles from the site, providing London Overground services.
Planning & Development Potential
Planning permission was granted in November 2017 (under reference 2016/4342) for the demolition of the existing block and the erection of a new 8-storey (plus basement) building comprising 8 residential units (5 x 2 bedroom apartments and 3 x 3 bedroom apartments).
The proposed scheme will create 7,833 sq.ft. GIA of residential floor space. All units will be for private sale and benefit from private amenity space.
The planning consent is subject to a Section 106 Agreement which provides for a car-free development and financial contributions totalling £24,000, as well as a CIL payment of £103,950.
There is potential to enhance the current planning permission by way of an additional storey to create a ninth apartment, subject to obtaining the necessary consents. Indicative plans showing a 9 unit scheme are available to view within the dataroom.
The property will be sold freehold with vacant possession upon completion.
The property is not elected for VAT.
Offers invited in excess of £3,400,000.
Further information including planning documents, technical reports and the legal pack is available within our dataroom using the access code ‘Hoxton’.
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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- 3 residential apartments situated within a 4-storey (plus basement) block positioned on a site of 1,313 sq.ft.
- Planning permission for an 8-storey (plus basement) new build scheme comprising 8 apartments (5 x 2 and 3 x 3 bedroom units) extending to approximately 7,833 sq.ft. GIA
- Potential for a ninth unit within an additional storey, subject to planning permission
- Sought-after location within Hoxton, close to Old Street roundabout, Shoreditch and The City
- Offers invited in excess of £3,400,000 for the freehold interest
To discuss this opportunity further, please contact Paul Heale or Jordan Oldfield on 020 7183 2529.