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North End Road, London, W14

CONSENTED RESIDENTIAL DEVELOPMENT OPPORTUNITY
For sale

TO BE SOLD AT ALLSOP AUCTION ON THURSDAY 16TH DECEMBER UNLESS SOLD PRIOR

  • An opportunity to acquire a consented development opportunity in a prime Central London location within Kensington Village.
  • Situated on North End Road, in the immediate vicinity of Kensington Olympia and within walking distance of West Kensington and Olympia Underground Stations.
  • The now vacant Public House benefits from full planning permission for the “Demolition of the existing building and the erection of a ……. Public house (Class A4)….with 8 private apartments…..”
  • The 8 proposed flats will comprise 3 x studio, 3 x 1 bed and 2 x 2 bed with a total proposed NIA of 4,800 sq ft, the proposed commercial area will total 2,361 sq ft.
  • Positive pre-application advice has been received from the local authority for the removal of the commercial unit to be replaced with either one or two residential dwellings (further information available upon request).
  • A viability report has demonstrated that the public house is no longer economically viable, this includes evidence of active and appropriate marketing for a continuous period of at least 12 months.
  • The financial contributions under CIL and S106 obligations total £301,843.
  • Freehold.
  • The property is elected for VAT.
  • We are instructed to quote a guide price of £2,250,000 (Two Million, Two Hundred and Fifty Thousand Pounds) subject to contract.
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