FOR SALE

Grove Street, London SE8 3SH

Offers invited

Description

The subject site is broadly rectangular in shape and extends to circa 0.23 acres (0.097 hectares).

The property is occupied by a 3-storey building consisting of 19 live / work units extending to approximately 4,391 sq.ft. in total, with the remainder of the land to the site and rear comprising parking.

Constructed in the early 20th century the building has significant local historic value being formerly occupied by the manufacturing company Scott & Co before changing uses to a Laundry and then its current use.

Access to the property is taken directly from Grove Street with the property bounded by Oxestalls Road to the north, the Pepy’s Estate to the East and the Timberyard Deptford development to the South and West.

Location

The property is located on the corner of Grove Street and Oxstells Road between Surrey Quays and Deptford, within the London Borough of Lewisham. The junction to Evelyn Street (A200) is located 300 metres from the property which provides direct access via the Rotherhithe Tunnel for the South of London to Limehouse in East London.

The immediate area is undergoing significant regeneration with the property neighbouring the Deptford Landings development which is currently under construction by Lendlease over 11.5 acres which will provide 1,130 new homes along with retail and workspace. The masterplan creates a series of new public spaces, connecting existing streets and public spaces, including Deptford Park and Pepys Park. A major new public space known as the Surrey Canal Way has been included at the heart of the scheme which will follow the historic route of the Grand Surrey Canal, and connects northwards to Surrey Quays. Further information in relation to Deptford Landings can be found here: www.deptfordlandings.co.uk/

Further South of the property is Convoys Wharf, a 41 acre site which was granted outline planning consent for 3,500 new homes and new open public spaces. Detailed plans are in the process of being prepared with the first phase now benefitting from planning permission for 450+ homes and construction due to start shortly. Further information in relation to Convoys Wharf can be found here: www.convoys-wharf.com/

Planning & Development

Planning permission was granted on 30th June 2021 (ref: DC/19/113332) for the redevelopment of the existing building including the partial retention of the façade and erection of a new 23 to 27 storey building plus basement to provide 137 residential apartments (51 x 1 bed, 78 x 2 bed and 8 x 3 bed units) totalling 96,521 sq.ft. and 10,161 sq.ft. of commercial space (Class C3, B1 and A3) across the ground, mezzanine and first floors.

The planning consent is subject to a Section 106 agreement with obligations for 18 apartments (10 x 1 bed, 4 x 2 bed and 4 x 3 bed) to be delivered as London Affordable Rent and 18 apartments (10 x 1 bed, 4 x 2 bed and 4 x 3 bed) to be London Living Rent. The S106 also contains financial obligations totalling £656,933 as well as future viability reassessments. Further information including the signed S106 can be found within our dataroom.

Tenure

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

VAT

The property is not elected for VAT.

Terms

Offers invited for the freehold interest.

Additional Information

Further information including planning documents are available in the dataroom using access code ‘Scott’.


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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  • Three-storey building consisting of 19 live / work units extending to approximately 4,391 sq.ft. situated on a broadly rectangular site of circa 0.23 acres
  • Planning permission granted for the partial retention of the existing façade and the construction of a newbuilding ranging in height from 23 to 27 storeys comprising 137 residential apartments totalling 96,521 sq.ft. and commercial space totalling 10,161 sq.ft.
  • Total of 137 residential units, 101 designated for private sale, 18 as Affordable Rent and 18 as London Living Rent
  • Sought-after residential location less than a mile from both Surrey Quays and Deptford train stations
  • Offers invited for the freehold interest

To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529

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