London Development Sites
Property development opportunities in London
1 February 2024
The Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 6-3 to keep the Bank Rate at 5.5%. Two members preferred to increase the rate by 0.25% and one preferred to reduce it by 0.25% to 5%. Twelve-month CPI inflation fell to 4% in December 2023 and is now expected to fall to the 2% target in the second quarter of 2024, but increase again in the third and fourth quarters.
14 & 15 February 2024 | Online
The Allsop February 2024 residential property auction includes the following lots.
Virtual freehold vacant shop and upper parts comprising a four-bedroom flat at Market Place, Falloden Way, Hampstead Garden Suburb, NW11 6JT. The guide price is £700,000+. A neighbouring property is also on sale at the auction, where the shop is vacant, and the upper parts are let on an AST. The guide price is £725,000+.
Freehold former printworks with a GIA of 9,038 sq ft (839.64 sq m) on a 0.288-acre (0.117 hectares) site, at Parade Works, Park Road, Rickmansworth, Hertfordshire WD3 1HU. The site has prior approval for conversion into 12 self-contained flats. The guide price is £1.2m+.
Freehold former Scout Activity Centre in Birdhouse Lane, Orpington BR6 7LJ, with buildings totalling 13,088 sq ft ( 1,215.88 sq m) on a site of 86 acres (34.803 hectares). Development potential subject to planning. The guide price is £1.5m-£2m.
Former commercial building at Esher Road, Hersham, Walton-on-Thames KT12 4JZ, with prior approval to create 7 self-contained flats. The guide price is £600,000+.
Development site comprising two buildings at 107-111 East Street, Epsom, Surrey KT17 1EJ, with planning permission for 16 flats subject to a Section 106 agreement. The guide price is £1.5m+.
8 February 2023 | Online
The Allsop February 2024 commercial property auction includes the following lots which may be suitable for development:
Freehold office building investment of 8,068 sq ft (794.5 sq m) over six floors including the basement, situated on a pedestrianised street in the City of London at Lovat Lane, EC3R 8DW. The current rent reserved is £358,798.50 pa, and the property may have residential redevelopment potential subject to planning. The guide price is £4.25m to £4.5m.
Freehold mixed-use retail and residential parade in Northfield Avenue, Ealing, W13 9SJ comprising 7 shops and 8 self-contained flats. The total rent reserved is £141,100pa. The property may be suitable for redevelopment subject to leases and planning. The guide price is £2.25m+
6 February 2024 | Online
The Savills 6 February 2024 auction includes the following development opportunities:
By order of executors, two adjoining residential buildings at Cheyne Place, Chelsea, SW3 4HH. The buildings comprise 10 apartments, of which 7 are subject to leases, 1 is subject to an AST and 2 are vacant. The guide price is £5m.
Freehold office in Ingate Place, Battersea SW8 3NS with planning permission for conversion to a residential dwelling. The guide price is £370,000.
A 7-bedroom house in Ridgway Gardens, Wimbledon, SW19 4SZ with planning permission to extend the house from 4,100 sq ft to 7,000 sq ft. The guide price is £2.8m.
Freehold development site in Sternhold Avenue, SW2 4PB with planning for a 2-bedroom 2-storey house. Guide price £200,000.
Tollgate House, Market Place, Romford RM1 3ER
A town centre mixed-use commercial building in Romford, RM1 is on sale through Kingsbury. The building, Tollgate House, totalling 9,504 sq ft, comprises two ground-floor commercial units extending to 2,250 sq ft, and office space extending to 7,254 sq ft across three upper floors. There is prior approval for the conversion of the upper floors to nine apartments, totalling 6,975 sq ft. Offer in the region of £1.8m.
A mixed-use retrofit scheme at Gresham Street EC2, which will retain approximately 70% of the building’s existing structure, has been approved by the City of London Corporation. The project includes landscaped terraces and new retail spaces along Aldermanbury, within walking distance of Liverpool Street station, currently the busiest station in the UK. City of London Corporation
18 January 2024
Savills ‘Market Pressures’ report concludes that London developers face a challenging market with a 41% decline in new build sales below £1,000psf in the past year. Private starts on-site are now 60% below the 2015 peak. The end of Help to Buy and higher interest rates contribute to this decline. Current new home deliveries at 34,985 are just 41% of housing needs, pointing to a challenging future. Prospects for improvement hinge on a predicted interest rate drop in mid-2024. Savills
26 January 2024
A 0.2-acre (0.08 hectare) site in Ansdell Street, Kensington W8, comprises a four-storey building over 20,717 sq ft, with planning permission for a terrace of 10 houses spanning 21,706 sq ft GIA. The guide price is £20.5m. Savills
Savills is also offering a former boiler house on a 0.51-acre (0.21 hectare) site at Ravenscroft Square, W6, neighbouring Ravenscroft Park Hospital. Price is on application.
A plot of land with planning permission for a five bedroom detached house. The site is situated opposite St James’s Church on the corner of Park Road and St James’s Street in Hampton TW12. The asking price is £825,000. Hamptons
7 and 8 February 2024 | Online
The Auction House London property auction in February 2024 includes the following properties:
A five-bedroom detached house on a 23,171 sq ft (201.7 sq m) plot at Aylmer Drive, Stanmore, HA7 3EG. The site includes two garages and benefits from a lake view. The guide price is £1.275m+.
A vacant site south of Albert Road, South Norwood, SE25 4JE. The site measures 1,950 sq ft (181 sq m) and benefits from planning permission for a 3-bedroom, 2-storey house. The guide price is £60,000+.
6 February 2024 | Grand Connaught Rooms, Covent Garden WC2B 5DA
The Barnard Marcus February 2024 property auction includes a Victorian building located at Comeragh Road, West Kensington W14 9PH. The building comprises a vacant ground and lower ground floor commercial unit spanning 1,313 sq ft (112 m2), which may be suitable for conversion, subject to planning. Apartments on the upper levels have been sold on long leases. The guide price is £350,000.
New Road Chingford E4 9EZ
Kingsbury is offering a 0.68-acre brownfield site on New Road, Chingford, with planning for a seven-storey building comprising 72 apartments. The site is located in the London Borough of Waltham Forest, and the adjacent leisure park is allocated for redevelopment to provide 280 new homes. Offers are invited in the region of £5.75m.
5 January 2024.
A 23,257 sq ft vacant care home at Ickenham Road, Ruislip, HA4 on a site of 0.58 acres close to West Ruislip underground station, with a pre-application for 83 residential units over 46,457 sq ft NSA (58,071 sq ft GIA). The asking price is £4m. Knight Frank
A vacant 0.07-acre site at 104-106 Lambeth Road SE1 with a planning application for 2, 4-bedroom townhouses and 2, 1-bedroom apartments. The site is a 2-minute walk to Lambeth North underground station and a 5-minute walk to Waterloo mainline and underground stations. The asking price is £2.4m subject to planning consent. The Development Group
Brambledown Road, South Croydon CR2 0BL
Kingsbury is offering for sale a detached 3-bedroom house that extends to 1,864 sq ft on a 0.18-acre site, with planning permission for the demolition of the existing building and the creation of 7 residential apartments, composing 4 two-bedroom and 3 three-bedroom units, totalling 6,213 sq ft. The site is located 0.3 miles from Sanderstead Station in the London Borough of Croydon. Offers in the region of £1m are invited for the freehold.
14 December 2023.
The Bank of England’s Monetary Policy Committee (MPC) voted 6-3 to maintain the Bank Rate at 5.25% for the third consecutive time. Three members voted to increase it by 0.25% to 5.5%. 12-month CPI inflation fell from 6.7% in September to 4.6% in October.
15 November 2023.
The Earls Court Development Company’s updated plans for the 40-acre former Earls Court Exhibition Centre include 4,000 new homes, 35% of which are affordable. The development will feature 300,000 sq ft of retail, dining, leisure and cultural spaces, along with 2.5 million sq ft of workspace. Gardens and open spaces account for 60% of the total area.
The new development aims to surpass the net-zero requirement, creating one of the UK’s largest zero-carbon energy-sharing networks and setting a zero operational carbon target. Additionally, the plan involves planting a thousand trees will be planted and designing routes that prioritise walking and cycling, with connections to the surrounding three stations. CGI of The Cascades, a terraced landscape and water feature at Earls Court, by ECDC.
19th December 2023 | Grand Connaught Rooms, Covent Garden WC2B 5DA
The Barnard Marcus December 2023 property auction includes the following lots:
A 0.11-acre site in Southville, London SW8 2PR, adjoining Larkhall Park, with planning permission for 14 flats and 296m2 of commercial space. Guide price £1.95m.
Freehold corner building at Hazelmere Road, London NW6 7HB, in need of updating, arranged as two flats over three floors. Guide price £650,000.
11 December 2023.
Former Ilford Liberal Club at Balfour Road, on a 0.279 acre (0.113 ha) site, situated 230m northeast of Ilford Station. Price on application via Savills.
Colliers are offering a 0.16-acre site on Katherine Road, Forest Gate E7 with planning for 14 apartments over a 5-storey block and a single-storey detached dwelling. The asking price is £2m.
21 November 2023.
The City of London Corporation has approved plans for a 23-storey mixed-use building at 55-65 Old Broad Street EC2, which will facilitate the restoration of the Grade II-listed Bishopsgate Bath House, opening it to the public. The existing structure of 65 Old Broad Street will be largely retained and refurbished, rather than redeveloped, substantially reducing the carbon footprint over the building’s lifespan.
14 December 2023 | Online
The two-day Allsop December 2023 residential property auction includes the following development opportunities:
A long leasehold former commercial space in Kilburn High Road, Brondesbury NW6 2BS, with planning permission to convert to 13 flats totalling 821.15 sq m (8,839 sq ft). Guide price £3.5m+.
A site at Providence Place, Collier Row Road, Romford RM5 2BH, extending to 1.02 hectares (2.51 acres) with lapsed planning permission for 22 5-bedroom detached houses. Guide price £1.75+.
A 0.155 hectares (0.383 acres) site at Bowes Road, rear of Green Lanes and Sydney Avenue, Palmers Green N13 4SP, with development potential subject to planning. Guide Price £1.2m+.
An airspace development opportunity at St James’s Road, Bermondsey, SE1 5JX. Planning permission for 15 residential units extending to 963.9 sq m (10,375 sq ft). Guide price £850,000+.
High Road, Leyton E10 6AE
Kingsbury is offering a vacant former cinema and commercial unit, totalling 31,900 sq ft, on a 0.82-acre plot in Leyton E10, with planning consent for a new build scheme that retains the existing facade. The scheme would comprise 83 residential units, arranged as 47 1-bedroom units, 21 2-bedroom units, and 15 3-bedroom units, totalling 55,905 sq ft. Additionally, there would be a commercial unit of 1,066 sq ft. The site is situated 0.4 miles from Leyton Midland Overground station. Offers in the region of £6.5m for the freehold are invited.
20 November 2023.
A roof and airspace development opportunity at The Broadway, Ealing W5 5JN. Lapsed planning permission for 8 apartments over two new floors, totalling 5,677 sq ft, including communal areas. For sale by fixed charge receivers. CSquared
Former Salvation Army Hall, Ram Street, Wandsworth SW18 1TJ, with potential for alternative uses subject to planning. Gross internal floor area of 266 sq m (2,864 sq ft) on a site of 0.07 acres. Guide price of £850,000. Gerald Eve
A site at Church Rise, Forest Hill, London SE23, with planning for three 4-bedroom houses over three storeys plus a basement, with a total GIA of 6,931 sq ft (644 sq m). The asking price is £1.5m. Pedder
22 November 2023 | Grand Connaught Rooms, Covent Garden WC2B 5DA
The Barnard Marcus November 2023 property auction includes the following lots:
A 0.2-acre site at Eastcote Lane, Harrow HA2 8RN, by order of the London Borough of Harrow, comprising an end-of-terrace house and an adjoining site with development potential, subject to planning. Guide price £425,000.
A freehold site of 6 garages and parking areas to the rear of Upper Richmond Road West, SW14 8AN. Guide price £250,000.
2 November 2023.
The Bank of England’s Monetary Policy Committee (MPC) voted 6-3 to maintain rates at 5.25%. Three members voted to increase the Bank Rate by 0.25% to 5.5%. Twelve-month CPI inflation fell to 6.7% in September, well above the 2% target, but is expected to continue to fall sharply to 4.75% in 2023 Q4, 4.25% in 2024 Q1, and 3.75% in 2024 Q2, and to the 2% target by the end of 2025.
Barking Road, East Ham E6 2LL
Kingsbury is offering a two-storey building totalling 7,997 sq ft on a 0.29-acre site with planning permission for 24 residential units. The accommodation would comprise 6 one-bedroom units, 12 two-bedroom units, and 6 three-bedroom units, totalling 18,622 sq ft. The site is located on Barking Road, 0.6 miles from East Ham underground station. Offers are invited in the region of £2.5 million for the freehold.
21 November 2023 | Online
The Savills November 2023 property auction includes the following lots:
A detached former warehouse at The Square, Woodford Green IG8 0UQ, with planning for 3 residential units totalling GIA of 2,206 sq ft (205 sq m). Guide £585,000.
Land at Whitefields Road Enfield EN8 0HD, comprising two former garage sites of 0.28 acres and 0.13 acres by order of Enfield Council. Guides £210,000 and £115,000.
Four-bedroom 3-storey mid-terrace house at Grafton Road, Kentish Town NW5 3DX, totalling 1,450sq ft in need of modernisation. Guide £900,000.
Grade II listed town centre office building at London End, Beaconsfield HP9 2HN, with parking and a GIA of 350 sq m (3,765 sq ft). Potential for alternative uses subject to planning. Guide £1.25m.
A 5-floor Grade II listed office building at Mount Pleasant, Kings Cross WC1X 0AE, with a GIA of 3,737 sq ft. Development potential subject to planning. Guide £1.15m.
A 4 bedroom house at Sylvan Road, Wanstead E11 1QN, with planning consent for a new 4-storey building comprising 9 flats. Guide £1.5m.
A 5 bedroom mid terrace house at St Pauls Road, Islington N1 2LL, in need of modernisation, with planning consent to convert to 2 flats. Guide £1m.
6 December 2023 | Online
The December 2023 Auction House London auction includes the following lots:
Farrer Road, Muswell Hill N8 8LD. A 100 sq m plot of land with planning permission for a new 2-bedroom house. Guide £250,000+.
Canfield Place, South Hampstead NW6 3BT. 1st and 2nd-floor 4-bedroom maisonette with potential to subdivide. Guide £500,000+.
8 November 2023.
Rye Lane, Peckham SE15. A 6,760sq ft (GIA) residential conversion opportunity on the 2nd and 3rd floors of a four-storey detached building with a McDonald’s restaurant on the ground floor. Situated adjacent to Peckham Rye Station. Long leasehold, £1.75m. Lambert Smith Hampton
Telford Road and Ladbrook Grove, W10 5SH. An income-producing property in educational use extending to 12,043 sq ft on a 0.19 acre (0.077 ha) site. The site benefits from implemented planning permission for a residential scheme. The consented scheme is for 18 residential units, along with office, restaurant space, and parking for 18 cars. Offers in excess of £7m. Allsop
Dolman Close, Finchley, London. This 0.6 acre (0.24 hectare) site has planning permission for 60 self-contained residential units, comprising 56 1-bedroom Intermediate Affordable Units and 4 2-bedroom homes. Bids in excess of £2m, deadline 5th December 2023. Savills
2 November 2023.
The City of London Corporation has release images of how the Square Mile’s skyline will look by 2030. The images include major developments that have been approved or are resolved to be approved in the last year. Most of the tall buildings are located on the east side of the Square Mile.
A report by Arup and Knight Frank show the need for an extra 1.2m square feet of office space in the city by 2040. [Read more…] about The City of London skyline by 2030
1 November 2023.
The Hendon, Hendon Way NW4 3LP. A 0.354 acre plot comprising a 3-storey building with parking for 10 spaces, close to Brent Cross shopping centre. Development opportunity subject to planning. Savills
Land at Harbet Road, Chingford E4 8QB. A 1.4 acre mixed use development opportunity in the Green Belt on the North Circular Road. [Read more…] about Development opportunities this week
26 October 2023.
The Savills third-quarter 2023 report on residential land in the UK reveals a 39% decrease in transactions, fewer sites entering the market, and a 22% decrease in planning consents in England. The sites in highest demand are those ready for immediate construction.
Residential land values in Central London have fallen by 8% over the 12 months leading up to September 2023, and in Outer London, the decline is even steeper at 15.6% during the same period. [Read more…] about Savills reports 39% decline in residential development land transactions in the UK in the third quarter of 2023
2 November 2023 | Online.
The Allsop November 2023 residential property auction includes the following lots:
High Street, Windsor SL4 1LN. A freehold vacant former bank building with development potential. GIA of 473 sq m (5,084 sq ft). Guide price £1.4m+.
Albert Road, East Barnet EN4 9SH. A freehold development site occupied by a semi-detached house and detached building. Site area of 400.54 sq m (4,311 sq ft). Guide price £950,000+.
Stuart Crescent, Wood Green N22 5NJ. Freehold former social club and detached building. Planning permission for 5 mews houses and 7 flats, 2 further houses and commercial space, with a total proposed GIA of 2,000.95 sq m (21,538 sq ft). Existing GIA 1,892.53 sq m (20,271 sq ft). The site is 0.16 hectares (0.4 acre). Guide price £4m+.
The City of London Corporation has granted planning permission for a new development, ‘The Mark’, designed by Danish architects 3XN, for Hobart Partners and PineBridge Benson Elliot. The new building at 47 and 50 Mark Lane, London, EC3, will offer 215,000 sq ft of office space and 14,000 sq ft of cultural, food & beverage, and retail space. The building is designed to a high environmental standard to contribute to the City Corporation’s aim of achieving a Net Zero Square Mile by 2040 and aims to be sympathetic to the Tower of London World Heritage Site nearby. [Read more…] about City of London Corporation grants planning for 215,000 sq ft of office space at Mark Lane EC3
Green Lanes, Palmers Green N13 5TU
Gilmartin Ley is offering a freehold shop and upper parts with vacant possession. The gross internal area of the two-storey building is 1,242.57m2 (13,375 sq ft), and the property is situated 125m from Palmers Green Station and 570m from the North Circular Road. There is an opportunity to refurbish, redevelop, and increase massing at the roof level to create residential or alternative-use space, subject to planning permission. Unconditional offers for the freehold are invited.
Related Argent has commenced the final phase of Heart of Hale, the £600m (GDV) North East London regeneration scheme at Tottenham Hale. The final phase comprises 1 and 2 Ferry Island and is designed by architects Alford Hall Monaghan Morris. In total, the scheme will deliver 1,032 market sale, affordable and Build-to-Rent homes, over 7 buildings. There will be a major new pedestrian civic space with retail and commercial spaces, including shops, cafes, leisure and offices, lining the main square.
23 October 2023
Tite Street, Chelsea, London SW3. A 0.74 acre freehold former care home site with an existing building extending to 38,080 sq ft (GIA). Potential for new build scheme subject to planning. Offers in excess of £50m. Knight Frank
Ferdinand Place, Chalk Farm, London NW1. Planning consent for a 4-storey building comprising 9 apartments and office space with a NSA of 785 sq m (8,447 sq ft). Price £3.35m. GLPG
26 October 2023 | Online
The McHugh & Co. October property auction includes the following development opportunities:
Rear of Tangle Tree Close, Finchley N3 2TR. A 1.1-acre plot of land with development potential subject to planning. Guide price £200,000+.
Rear of Malden Road, Kentish Town NW5 4HR. Freehold outhouse and land of approximately 600 sq ft. Guide price £120,000+.
Stirling Road, Acton W3 8DJ. A 675 sq m freehold warehouse and workshop over two floors. Guide price £2.3m+.
25 October 2023 | Online
The October 2023 Auction House London auction includes two vacant semi-detached houses at Greenford Avenue, Greenford W7 with planning consent for seven residential units. Guide price £1.1m+.
17 October 2023
Fire Brigades Union, Coombe Road, Kingston upon Thames. Unconsented, permitted development opportunity, 9,483 sq ft GIA, 0.22 acre site. Guide price £3m. Savills
Rear of Park Road, Bromley BR1 3HL. The site comprises 9 garages with planning consent for two three-bedroom houses. Guide price £500,000. Acorn
Bermondsey Tramyard, Ilderton Road, London SE15. A 0.15-acre site with a resolution to grant planning permission for a 15-storey building comprising 59 apartments. The surrounding area is being regenerated as part of Southwark’s Old Kent Road Area Action Plan, additionally, the Surrey Canal Road Overground station is due to open in around 18 months. Price £4,950,000. Kalmars
Spanish Place, Marylebone W1 W1U. Grade II listed mid-terrace property arranged as two apartments and a medical practice measuring 3,085 sq ft NSA (3,587 sq ft GIA). Planning consent to redevelop to form two residential dwellings. Guide price £3.5m. Knight Frank
Sinclair Grove, Golders Green London NW11 9JH
Gilmartin Ley is offering a 0.2-acre freehold development site in Golders Green, NW11. The site includes an existing 180.70 sq m (1,945 sq ft) unmodernized 5-bedroom bungalow with a garage. There is development potential for two four-bedroom houses, subject to planning permission (indicative drawings available). The property is located 700m from Brent Cross Shopping Centre and less than 300m from Brent Cross Underground Station on the Northern Line. Offers in excess of £1m are invited. SOLD
25 September 2023
Brent Cross Town is one of the largest regeneration projects in Europe, with the 180-acre site expected to deliver 6,700 new homes, having a GDV of £8bn. The project is a joint venture between Related Argent and Barnet Council. The main structures of the first two residential buildings, Plot 12 and The Delamarre are now complete. A new station, Brent Cross West, will open at the end of the year and connect to Kings Cross with a journey time of 12 minutes. Seven parks will serve the area, the first of which, Claremont Park, opened in 2022.
24 October 2023 | Online
The Strettons October 2023 residential and commercial property auction includes the following development opportunities:
Mill Hill Road, London W3 8JF. A freehold three-storey semi-detached period house with planning consent to convert the existing building to three two-bedroom flats, and a new-build five-bedroom house. Guide price £775,000+.
Buckingham Road, Stratford E15 1SP. Freehold land with lapsed planning permission for four self-contained flats. Guide price £450,000+.