SOLD - A prime residential development opportunity with the benefit of planning permission for the extension and conversion of the existing building to create 9 multi use class (C1/C3) apartments.
To learn more about working with The Development Group and to register your current requirements, please contact a member of our team now. Alternatively if you have an asset you are considering selling then get in touch now to see how we can maximise the value for you.
- The Development Group successfully acquired this freehold residential development opportunity with planning granted for 9 multi-use (C1 & C3) apartments off market on behalf of a retained client.
- The site benefits from the close proximity (c. 387ft) of Barbican Underground Station which is located on the Circle, Hammersmith & City and Metropolitan Lines.
- The existing property comprises 4 warehouse style serviced apartments (C1 use class). The building is arranged over lower ground to third floors.
- We understand that the existing building extends to approximately 6,200sqft GIA (576sqm).
- Planning was granted in July 2022 for the change of use at basement, ground, first, second and third floor levels from hotel (Class C1 use) to flexible use for either Class C1 or Class C3 purposes to provide seven units of accommodation; Erection of a set-back roof extension for a flexible use for either Class C1 or Class C3 purposes to provide two additional units of accommodation (9 in total).
- All 9 apartments are of private tenure and will comprise 4 x 1-bed, 5 x 2-bed and will extend in the total area approximately 7,354 sqft NIA (683.2sqm).
- The property is available freehold with vacant possession.
To learn more about working with The Development Group and to register your current requirements, please contact a member of our team now. Alternatively if you have an asset you are considering selling then get in touch now to see how we can maximise the value for you.