Station Lane, Hornchurch RM12 6LS
Offers in excess of £2,250,000
The site comprises a vacant plot of land land extending to approximately 0.9 acres, formerly occupied by a social club, now demolished in readiness for re-development.
The property is currently accessed via Station Lane, adjacent to Hornchurch Underground station and near a mix of residential and commercial uses.
The property is located on Station Lane, Hornchurch within the London Borough of Havering.
The immediate surroundings comprises a mixture of residential and commercial uses, with a number of shops and amenities available on the High Street which is walking distance of the site.
The property is adjacent to Hornchurch Underground station which provides direct services to Monument / Westminster via the District Line.
The 193 bus departs the station every 8-10 minutes for the High Street and Romford Station (Elizabeth Line).
Planning & Development Potential
Planning permission was granted (P0708.20) on 5th February 2021 for the construction of 3 x part 3 and 4 storey buildings to provide 27 residential apartments (12 x 1 bed, 13 x 2 bed and 2 x 3 bedroom units) extending to approximately 19,063 sq.ft.
3 apartments (2 x 1 bed, 1 x 2 bed units) to be delivered as Shared Ownership with an offer received from a Registered Provider for the 3 units, with details available upon request.
Agreements have been put in place with both Transport for London and London Underground Limited to facilitate the development. A payment of £161,750 is due within 10 working days of serving notice confirming commencement of development.
The planning permission is subject to a CIL liability of £253,912.68 of which the vendor has already paid half with the remaining £126,956.35 payable by the incoming purchaser and S106 contributions totalling £48,516.
Further information can be found within our dataroom in the Legal Report document.
The property will be sold freehold and subject to vacant possession upon completion.
The property is not elected for VAT.
Offers invited in excess of £2,250,000 for the freehold interest, representing £83,000 per plot / £118 per sq.ft. on proposed NSA.
Further information including planning documents and technical documents are available in the dataroom using access code ‘Hornchurch’.
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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- Cleared site extending to 0.9 acres, located adjacent to Hornchurch underground station (District Line)
- Planning permission for 27 residential apartments totaling 19,063 sq.ft. NSA (24 Open Market, 3 Shared Ownership)
- All units are within “Help to Buy” price range, and will also make for an excellent suburban build to rent offering
- Offers invited in excess of £2,250,000 for the freehold interest, representing £83,000 per plot / £118 per sq.ft. on proposed NSA
To discuss this opportunity further, please contact Chris Incledon or Paul Heale on 020 7183 2529