Property development opportunities in London
5 August 2024
Related Argent has announced a £100m (GDV) co-living development at Brent Cross Town in partnership with Halcyon Development Partners and DTZ Investors' Folk Co-living brand. This will be the first co-living project in the London Borough of Barnet. Located near the new high street, Merchant Street, and the main public space, Neighbourhood Square, the development is a 3-minute walk from Brent Cross West mainline station. (more…)
MORE29 August 2024 | Online
The Allsop August 2024 residential property auction includes the following development opportunities.
Two adjoining mid-terrace buildings on St Paul's Road, Islington N1 2LH, extending to 3,759 sq ft, with potential for conversion to residential, subject to planning. The guide price is £1.6m +.
A 0.3 -acre site on Wordsworth Way, West Drayton UB7 9HT, with development potential subject to planning. The guide price is £50,000+.
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High Street Hornsey N8 7QB
Kingsbury is offering a car sales forecourt and single-storey office building on a 0.12-acre site in Hornsey, N8. The site has planning permission for a new two/three-storey scheme comprising two houses and seven apartments, totalling 6,157 sq ft, along with 1,023 sq ft of commercial space. Hornsey station is situated 0.3 miles from the site. Offers in the regions of £1.6m are invited for the freehold.
MORE14 August 2024
Data by Knight Frank shows that following an improvement in the Spring of 2024, offers made on new homes in London fell by 50% in June and July 2024. Recent data indicates an improvement over the last few weeks.
According to Knight Frank, the best-selling schemes in London include One Park Drive (completed in 2022) and 10 Park Drive (completed in 2020) in Canary Wharf, where only 56 out of 830 private units are available. (more…)
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High Street, Orpington BR6 0LW
Kingsbury offers a mixed-use building comprising 2 retail units and a residential flat on a 0.19-acre site on the High Street in Orpington, London Borough of Bromley. Planning permission has been granted to construct a new 4-storey building comprising two ground-floor retail units extending to 2,706 sq ft and 15 apartments totalling 4,877 sq ft. The site is located within walking distance of Orpington train station. Offers are invited in the region of £1.85m.
MORE7 August 2024
In July 2024, the Halifax House Price Index showed that UK house prices increased by 0.8%, on a monthly basis, resulting in an annual growth of 2.3%, the highest since the start of the year. The average house price is now £291,268, up by over £2,200 from the previous month. London property averaged £536,052, up 1.2% compared to last year.
MORE1 August 2024
The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 5 to 4 to reduce the Bank Rate from 5.25% to 5%. Four members preferred to keep the rate at 5.25%. Inflation was at 2% in May and June 2024 and is expected to rise to 2.75% in the second half of the year and then return to the 2% target again.
MORE31 July & 1 August 2024 | Online
The Auction House London July/August 2024 property auction includes the following development opportunities.
A detached block of three income-producing flats on Sunny Gardens Road, Hendon NW4 1SH, with planning permission to create an additional four flats. The guide price is £1.5+.
A 3-bedroom detached bungalow on Gibson Close, Winchmore Hill, London N21 1EQ, with planning submitted for redevelopment to provide two 3/4-bedroom semi-detached houses. The guide price is £1.1m+.
A vacant detached former chapel on Dunbar Street, West Norwood SE27 9JY, with potential for redevelopment subject to planning. The guide price is £250,000+.
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Temple Grove, Enfield EN2 8EH
A 0.13-acre freehold development site on Temple Grove, Enfield is on the market with Gilmartin Ley. There is an exissting three bedroom house of 112 sq m on the site, which is situated 400m from Enfield Chase train station. Offers in excess of £650,000 are invited.
MORE23 July 2024 | Online
The Savills July 2024 property auction includes the following development opportunities.
A two-storey detached building comprising four flats on Stockwell Lane, SW9 0SS, situated 0.3 miles from Stockwell Underground station. The guide price is £600,000.
Two self-contained flats over the raised ground and lower ground floors of a building in Chalcot Gardens, Belsize Park, NW3 4YB, with planning permission for conversion to a three-bedroom, 1,873 sq ft flat. The guide price is £1.8m. A second and third-floor flat in the same building, with an area of 1,496 sq ft, is available with a guide price of £1.55m.
A former bank building situated on the corner of Woodwarde Road and Lordship Lane, East Dulwich, SE22 8LZ, with a total GIA of 428 sq m (4,603 sq ft). Development potential subject to planning. The guide price is £975,000.
A detached bungalow on a 3-acre site on Wise Lane, West Drayton, UB7 7ET, with development potential subject to planning. The guide price is £1.8m.
The auction includes unmodernised houses in Camberwell SE5 0NJ, London SE1 9EQ, Blackheath SE3 8NG, East Dulwich SE22 9JH, Peckham SE15 5AF and Bermmondsey SE16 3RS.
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Pembroke Road, Muswell Hill N10 2HX
Gilmartin Ley is offering a 0.32-acre site in Muswell Hill, N10, with an implemented planning permission for three, 3-bedroom houses (with a GIA of 300 sq m (3,229 sq ft)) and an existing 9-bedroom house (with a GIA of 197.88 sq m (2,130 sq ft)). There is potential to convert the large house or HMO into flats, subject to planning. The site is located less than a mile from Bounds Green Underground Station and 0.62 miles from New Southgate Station. The guide price is £2m.
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The City of London Corporation has approved the redevelopment of two office buildings between the future Museum of London and the Barbican to create a new hotel. The buildings at 1-8 Long Lane will be combined into a 9-storey, 128-room hotel, with 10% provision for disabled access, contributing to future visitor demands. Retail spaces, urban greening and public art installations will form part of the development.
MORE18 June 2024 | Online
The Savills June 2024 property auction includes the following development opportunities.
An end-of-terrace house with structural issues on Crisp Road, Henley-on-Thames RG9 2EN, with a guide price of £75,000.
An unmodernised four-room flat on Oakley Street, Chelsea SW3 5HB, with a guide price of £800,000.
An unmodernised three-storey nine-room detached house on Grove Road, Uxbridge, Middlesex UB8 1QR, with a guide price of £550,000.
A multi-purpose site at Selsdon Road and Jarvis Road, South Croydon CR2 6PL, with the potential to develop subject to planning. The site comprises vacant offices, warehouse, and yard with a total floor area of 14,190 sq ft. The guide price is £1.6m.
A site on Hallowell Road, Northwood, Middlesex HA6 1DW, with planning for four houses, situated 0.2 miles from Northwood Station. The guide price is £1.1m.
Site on Shenley Road, Borehamwood WD6 1TH, with planning permission for three new build houses with a total GIA of 3,976 sq ft (369.36 sq m). The guide price is £500,000.
An unmodernised five-bedroom, three-storey end-of-terrace house on Crystal Palace Road, Dulwich SE22 9JJ, with a guide price of £785,000.
A mixed-use site with two self contained flats, a commercial unit, garage, store, and yard on Evesham Road, Stratford E15 4AL, with development potential subject to planning, offered with a guide price of £650,000.
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19-25 Rotherhithe New Road, Southwark SE16 2AE
Kingsbury are offering a 0.15-acre site in the Canada Wharf 'Core Action Area,' situated 400 meters from Surrey Quays Underground station on the Jubilee Line. There is a previous resolution to grant planning consent from 2022, for a 12-storey building comprising 48 apartments with commercial space on the ground floor. Offers are invited in excess of £2.5m for the freehold.
MORE19th & 20th June 2024 | Online
The Allsop June 2024 residential property auction includes the following development opportunities.
A long leasehold former Grade II listed fire tower with planning permission for a one-bedroom maisonette with a roof terrace on Lancaster Grove, Belsize Park, NW3 4PB. The guide price is £250,000.
A freehold end-of-terrace mixed-use building on The Ridgway, Wimbledon Village, SW19 4QW, with planning permission for a change of use and extension to provide three one-bedroom flats. The guide price is £1m+.
A freehold site of 2,717 sq ft (252.45 sq m) to the rear of Leicester Road, New Barnet, EN5 5EL with development potential. The guide price is £27,000+.
A long leasehold airspace at Graham Road, Wimbledon SW19 3SP, with planning permission for two 1-bedroom flats. The guide price is £230,000+.
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Provident House, High Street Bromley BR1 1DZ
The Development Group are offering a site on the High Street in Bromley with extant planning permission for the conversion and extension of an existing building to create 51 apartments. The existing 104,026 sq ft NIA building, Provident House, is situated on a 0.56 acre (0.23 hectare) site. The consented scheme allows for the conversion of the first, second and third floors and the new build of a fourth and fifth floor. There may be scope to further develop the airspace subject to planning. (more…)
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International developers Hines have secured approval from Southwark Council for a new office and residential development at 18 Blackfriars Road on a 2-acre site that has been undeveloped for 20 years. The buildings, designed by architects Foster + Partners, are intended to be fossil fuel-free, 100% electric and Net Zero carbon in use, with 95% of the heat requirement served by ground source heat pumps. (more…)
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Old Kent Road, Southwark SE1 4RF
A mixed-use 4-storey building comprising a ground floor retail space and two apartments above, totalling 5,274sq ft, is available through Kingsbury. Planning permission is in place for a new build scheme comprising 9 apartments totalling 4,198 sq ft, along with a commercial unit spanning the ground and basement floors totalling 2,399 sq ft. The property is situated within the Old Kent Road Opportunity Area, which is undergoing regeneration with the proposed Bakerloo Line line extension. Offers in the region of £1.55m are invited.
MORE6 June 2024
The Strettons June 2024 property auction includes the following development opportunities.
Land on the south side of Whitehall Road, HA1 3AJ, measuring 1,134 sq ft (105.3 m2) with a guide price of £60,000+.
A vacant three-storey terrace property on Leonard Street, Shoreditch, EC2A 4QS, comprising a coffee shop on the ground floor and basement, with offices on the first and second floors. The guide price is £990,000+.
A three-storey terrace commercial and residential building on High Road, East Finchley, N2 9PN, with planning permission for the conversion of the residential part to two two-bedroom flats. The guide price is £1m+.
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13 May 2024
The retailer Asda has partnered with developer Barratt London to redevelop the brownfield site which currently houses the Park Royal superstore, creating a new town centre at the heart of the Old Oak and Park Royal Development Corporation major regeneration area. Subject to planning, the project will feature a 60,000 sq ft Asda superstore and 1,500 new homes, of which 500 will be affordable. The scheme aims to provide space for new retail units, restaurants, health and wellness facilities, high-quality public realm space, and significant biodiversity gains.
MORE22 May 2024 | Online
The May 2024 McHugh & Co. property auction includes the following development opportunities.
Unmodernised four-bedroom detached bungalow and land at Frances Street, Chesham, Buckinghamshire HP5 3EQ. The guide price is £150,000+.
A three-floor, four-bedroom terrace house, requiring modernising, in Torriano Avenue, Kentish Town, NW5 2RX. The guide price is £925,000+.
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Developer Cauldwell's 300,000 sq ft, 8-storey luxury residential scheme, with facades onto South Audley Street, Hill Street and Waverton Street in Mayfair, W1, is due to be completed in Q4 of 2025. Construction of the £2bn GDV project, occupying half a city block, commenced in 2017. Designed by architects Robert A M Stern, the building comprises 24 residences, including lateral apartments, penthouses and townhouses, and offers services typically associated with 5* hotels such as a health spa and swimming pool. Image of Waverton Street facade by Cauldwell
MORE29 May 2024 | Online
The May 2024 Savills property auction includes the following development opportunities.
The former Grade II listed Cauliflower Public House, High Road, Ilford IG1 1TZ, extending to 15,253 sq ft on a site area of 0.42 acres. Planning permission is in place for the conversion of the 2nd and 3rd floors to provide 5 flats, with further planning is expected for 15 flats and commercial space on the site. The guide price is £2.9m
A site measuring 6,012 sq ft at Hoppers Road, Winchmore Hill N21 3JR, with planning permission for a detached four-bedroom house. The guide price is £700,000.
A freehold site of 6052 sq ft in Ewelme Road, Forest Hill SE23 3BQ, with expired planning consent for 6 flats. The guide price is £1m.
MORE9 May 2024
The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 7-2 to maintain the Bank Rate at 5.25%. Two members preferred to reduce the bank rate by 0.25% to 5%. Twelve-month CPI inflation fell to 3.2% in March from 3.4% in February. Monetary Policy will remain restrictive for sufficiently long enough to allow inflation to return to the 2% target.
MORE21 May 2024 | The Grand Connaught Rooms, Covent Garden
The May 2024 Barnard Marcus property auction includes the following development opportunities.
Land at Alexandra Mews, Muswell Hill N10 2PG with planning permission for a two-bedroom detached house over three floors, with off-street parking. The guide price is £360,000.
Garages at the rear of College Road, St Albans, AL1 5ND, with planning permission for a two-storey building comprising two flats. There is a lapsed planning consent for two semi-detached houses. The guide price is £170,000.
A Site to the rear of Wallwood Road E11 1AP (on Kings Road) with planning permission for a 4-bedroom detached house. The guide price is £325,000. Note that the house on Wallwood Road is also being offered at the auction.
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Melbourne Way, Bush Hill Park, Enfield EN1 1XG
Gilmartin Ley is offering a 1,487 sq ft (138.12 m2) surgery building in Enfield on a site area of 2,623 sq ft (243.67 sq m). The property has planning permission for use as a private dwelling house and is located 220m from Bush Hill Park railway station. The guide price for the building is £600,000.
MORE3 May 2024
Long leasehold 0.4 acre (0.16 hectares) Belle Isle Site at York Way, Kings Cross N1. The business/office-led development opportunity is adjacent to the Kings Cross Regeneration Area, with potential for up to 15 stories subject to planning. Offers via informal tender. Avison Young
A hostel spanning 3-4 stories, extending to 15,757 sq ft (1,464 sq m) GIA on a 0.31-acre (0.13 hectare) site at Harrow Road, Westbourne Green W2 5XQ. Resolution to grant planning permission to redevelop the site was granted but later withdrawn. Offers in excess of £5.75m. Savills
An office building arranged over 3 stories, measuring 5,125 sq ft, at Old Kent Road SE1. There was a positive pre-application with Southwark Council for a 6-storey mixed-use building. Acorn are seeking offers in the region of £2.5m.
Knight Frank are offering a 5,358 sq ft (497.8 m2) GIA mid-terrace hotel in Barkston Gardens, Earls Court SW5, with planning consent for a change of use to 5 apartments. The guide price is £3.75m.
MORE21 & 22 May 2024 | Online
The May 2024 Auction House London property auction includes the following development opportunities.
A vacant mixed-used building comprising a restaurant and upper parts at High Street Barnet EN5 5SZ. There is planning consent to convert the upper parts to three one-bedroom flats. The guide price is £775,000+.
Land at Dormers Wells Lane, Southall UB1 3JA, measuring 6,041 sq ft (561 m2) with planning consent for a five-bedroom detached bungalow. The guide price is £225,000+.
A ground floor vacant retail unit at Kingston Road, Wimbledon SW19 1LJ with potential for development subject to planning. The guide price is £85,000+.
Land adjacent to Honey Lane, Waltham Abbey, EN9 3AS, measuring 1,561 sq ft (145 m2), with planning for a new two-bedroom house. The guide price is £130,000+.
MORE1 May 2024
According to Nationwide, UK house prices fell 0.4% in April 2024 after considering seasonal effects, slowing the annual rate of increase from 1.6% in March 2024 to 0.6% in April 2024. House prices are now 4% below the all-time highs of summer 2022.
MORE25 April 2024
According to research by Savills, prime residential property values in outer London increased by 0.8% in Q1 of 2024. The strongest performers were houses in Battersea, Clapham, Ealing, Fulham and Victoria Park. Prime central London property prices increased by 0.1%, the first increase since mid-2022. Sales volumes across all residential properties in London are 15% above pre-pandemic levels and 24% up on last year.
MORE9 January 2024
The £90 million upgrade to Oxford Street, London W1 received support from 2/3 of residents, businesses and visitors who took part in a consultation. The scheme proposes a more attractive street with 40% more footway space, and improved seating, lighting, signage, trees and planting.
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Queen Elizabeth Riding School, Forest Side, Chingford E4 6BA
Kingsbury is offering a former riding stable on a 0.45-acre site in Chingford with planning permission for 2, 3-bedroom houses and 7 apartments over 8,542 st ft. The site is situated close to Chingford Overground Station and Epping Forest. Offers are invited in the region of £1.75m.
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9 April 2024
The City of London Corporation has approved the Hill House office scheme, which will deliver over 57,000 sq m of grade A office space to accommodate around 3,000 employees at 1 Little New Street EC4A. As part of the scheme, the Shoe Lane Library will be relocated from the basement to ground level. Additionally, the scheme involves planting 28 street trees, delivering a 500% biodiversity net gain for the area, and retaining over 90% of the existing structure. Image ©WAX.
MORE7 March 2024
Over £2bn of public and private sector investment is planned at Royal Docks delivering 36,000 homes and 55,000 jobs. This is part of a wider regeneration delivering 129,300 homes at development areas including London Riverside, Isle of Dogs, Thamesmead and Canada Water. The Royal Docks played an important role in the capital's economy from the mid-1800s until it declined in the 1960s and 1970s. It now forms one of the largest development regeneration areas in London.
MORE15 & 16 April 2024 | Online
The Savills April 2024 property auction includes the following lots.
A detached unmodernised property with development potential situated in the Leytonstone Conservation area at Colworth Road, E11 1JD. The guide price is £425,000.
Freehold block of flats at Liberty Court, Great North Road, Hendon NW4 1PR with planning permission for a roof extension to create four new flats. The guide price is £135,000.
Ground floor offices with planning permission for the conversion to four flats. The site overlooks the River Lee, one mile from Canary Wharf, at Leven Wharf, Leven Road E14 0LL. The guide price is £490,000.
By order of a charity, a former HMO corner building extending to 1,962 sq ft at Weston Park, Crouch End N8 9TJ. Potential for conversion to a single dwelling or flats subject to planning. The guide price is £950,000.
MORE17 & 18 April 2024 | Online
The Auction House London April 2024 property auction includes the following development opportunities.
An 11-room mid-terrace house in Delancey Street, Camden NW1 7RY with a guide price of £1.75m+.
Airspace at Parkhurst Court, Warlters Road, Tufnell Park N7 0SD, with approval for a single-storey extension to create 7 additional flats, with a guide price of £220,000+.
An office building with planning for residential conversion at Ingate Place, Battersea SW8 3NS, with a guide price of £300,000+.
A 685 sq ft plot of land at Grafton Terrace, Kentish Town NW5 4HR with a guide price of £80,000+.
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Whitecross Street, London EC1Y 8JT
Gilmartin Ley is offering a freehold commercial building with development potential subject to planning permission. The building spans 2,764 sq ft (256.82 sq m) and is situated on Whitecross Street EC1, close to the Old Street roundabout. The 19th-century mid-terrace building features a roof terrace. The guide price is £1.25m.
MORE27 & 28 February 2024 | Online
The Savills 27 & 28 February 2024 property auction includes the following development opportunities.
A three-bedroom unmodernised detached house in Dyers Lane, Putney SW15 6JR in the same ownership for 38 years, with a guide price of £450,000.
A two-storey storage unit in Effra Road, Wimbledon SW19 8PP, with planning permission for a new two-bedroom house. The guide price is £330,000.
By order of receivers, a 0.97-acre plot of land at New Road, Maldon, Essex CM9 8RE, with planning permission for 17 houses. The guide price is £1.15m.
A 603 sq ft freehold plot of land at the rear of Malden Road, Kentish Town NW5 4HR, with development potential subject to planning, with a guide price of £90,000.
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22 February 2024 | Online
The Strettons February 2024 property auction includes the following development opportunities.
A 3,843 sq ft rectangular site with development potential subject to planning, at Black Horse Yard, Church Walk UB3 2RN, adjacent to Barra Hall Park, in the Hayes conservation area. The guide price is £175,000+. This lot is offered by order of the Mayor and Burgesses of the London Borough of Hillingdon.
Site extending to 0.13 acres with development potential subject to planning, at Leigh Road, East Ham E6 2AR, with a guide price of £45,000+.
Land adjacent to Westfield Close, Enfield EN3 7RU with planning permission for a two-bedroom detached house with car parking. The guide price is £85,000+.
Land at Buckingham Road, Stratford E15 1SP with lapsed planning for a new building comprising four flats. The guide price is £395,000+.
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