Commercial Development For Sale
A freehold site with a planning application submitted to demolish an existing two storey warehouse measuring approx. 5,200 sq. ft., and erect a new building over 6 storeys, comprising 9 residential apartments totaling 8,500 sq. ft. (790 sq. ms) and 4 commercial spaces totaling 3,486 sq. ft. (324 sq. ms).
The site is located in the increasingly popular East London neighborhood of Homerton, just a short walk from Homerton Station and the fashionable Chatsworth Road which has a mix of cafes, bars and boutiques and a popular Sunday market. Victoria Park and the Hackney Marshes are both within a 10 minute walk and an increasing number of gastropubs and upmarket chains have seen the area attract a young and affluent demographic of residential buyers. Historically, the immediately surrounding area was fairly industrial, but in recent years a number of commercial buildings and vacant sites have been redeveloped into mixed use schemes comprising commercial space at ground level and flats above.
The freehold is available subject to a guide price of £2,500,000 (VAT not applicable). All other terms and conditions by negotiation.
A planning application has been submitted for the demolition of existing commercial building; and erection of a 6 storey mixed-use building comprising commercial/community floorspace (use class E) and 9 residential units with associated cycle parking and refuse and recycling facilities. Full details can be found via the Hackney planning portal under ref-2021/0696.