London Development Sites
Property development opportunities in London
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+.
20 September 2023
The Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 5 to 4 to maintain the Bank Rate at 5.25%. Four of the members voted to increase the rate to 5.5%. The 12 month CPI inflation was 6.7% in August down from 7.9% in June.
18 October 2023 | Grand Connaught Rooms, Covent Garden WC2B 5DA
Lots for the Barnard Marcus October 2023 auction include:
Hercules Street, N7 6AT. Freehold commercial site of 772.95 sq ft where the development has commenced but is incomplete. Guide Price £310,000.
Airspace above Queen Court, Queen Square WC1N 3BA. Long lease airspace with development potential subject to planning permission. Guide price £90,000.
14 September 2023
Savills research reports that 240 properties worth more than £5 million were sold in the first half of 2023. Although this is 21% lower than the first half of 2022, the sales are 45% above the first-half average between 2017 and 2019. Savills research also indicates that prices in prime central London remain 18% below their peak in 2014.
South Street, Romford RM1 2AJ
Kingsbury is offering a former builders’ yard on a site of 0.57 acres (0.23 hectares). Planning permission exists for 47 residential apartments totalling 36,694 sq ft and a commercial unit of 5,963 sq ft. There is an agreement to lease the commercial unit at £85,000 per annum for 10 years. The site is 0.4 miles from the town centre and Elizabeth and Crossrail stations at Romford. Offers in the region of £3.5m are invited for the freehold.
Deptford Bridge London SE8 4HH
Kingsbury Stone is offering a long leashold roof and airspace above a mixed used building. There is planning permission for two one-bedroom flats totalling 1,071 sq ft. The building is located 350ft from Deptford Bridge DLR station. Offers are invited in excess of £200,000.
3 August 2023
In the August meeting of the Bank of England’s Monetary Policy Committee (MPC) the members voted by a majority of 6-3 to increase the Bank rate by 0.25% to 5.25%. Two members preferred to increase the rate by 0.5% to 5.5% and one preferred to leave the rate unchanged at 5%. Twelve month CPI fell from 8.7% in May to 7.9% in June.
22 June 2023
The Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase rates by 0.5 percentage points to 5%. Two members preferred to leave the rates unchanged at 4.5%. Inflation measured by Consumer Price Index (CPI) was 8.7% in May, unchanged from the April figure. The MPC will adjust rates to return inflation to the 2% target.
Albert Road New Barnet EN4 9SH
Kingsbury Stone are offering a 0.08 acre site comprising 3 residential units with planning permission for a new building comprising 9 apartments over 6,477 sq ft. The site it located 0.2 miles from New Barnet train station and the vendors are seeking offers in excess of £1m for the freehold, reduced from £1.6m.
Leavesden Road Baptist Church Watford WD24 5ER
Rapleys are offering for sale a Grade II Listed former church and hall, in North Watford. The net internal area is 7,362 sq ft on a site area of 0.23 acres. Watford Junction train station is approximately 0.5 miles away. Offers are invited in the region of £1.1m for the freehold.
11 May 2023
The Bank of England’s Monetary Policy Committee (MPC) voted by 7-2 to increase the Bank Rate by 0.25% to 4.5%. The two members that voted against the rate rises preferred to maintain the rate at 4.25%. The Consumer Prices Index (CPI) inflation was 8.7% in the 12 months to April 2023, which is down from 10.1% in March.
23 May 2023 | Online
The Mc Hugh & Co May 2023 auction includes: an unmodernised semi-detached house in Woodside Avenue, Highgate N6 4SP with a guide price of £1m+; a 1.1 acre plot of land to the rear of Tangle Tree Close, Finchley N3 2QP with guide price of £325,000+; a 3,300 sq ft plot of land to the rear of Selborne Gardens, Hendon NW4 4SH with a planning application submitted for a 4 bedroom house, with a guide price of £40,000+ and a 1,900sq ft plot of land to the rear of Halifax Road, Enfield EN2 0PP with a guide price of £120,000+.
2 May 2023
The Nationwide House Price Index showed that annual house price growth was -2.7% in April, however the monthly figures showed a 0.5% increase. This is the first rise after seven consecutive declines.
Glory House Tabernacle Avenue E13 8EG
Kingsbury Stone are marketing a vacant former church, warehouse and associated buildings extending to 36.521 sq ft with planning for a new build scheme of 80 residential units totalling 61,409 sq ft and a commercial unit of 3,528 sq ft. The site is in the London Borough of Newham, close to Canning Town DLR.
24 May 2023 | Online
The Auction House London May 2023 property auction will be by remote bidding and includes a vacant ground and lower ground floor commercial property in Southwark SE1, with a guide price of £330,000+ and potential for change of use subject to planning permission.
23 May 2023 | Grand Connaught Rooms WC2B 5DA
The May 2023 Barnard Marcus property auction includes a five floor investment building in Warwick Road SW5 arranged as 9 flats with a garage, with a guide price of £2.675m.
17 May 2023 | Online
The May 2023 Allsop commercial property auction is online and includes: a freehold shop investment and residential development opportunity in Epsom, Surrey KT19 8BA, with a guide price of £950,000 to £1m; a freehold city centre retail investment at St Peters St, St Albans AL1 3EA, with planning permission for 3 shops and 20 flats, with a guide price of £2.4+; a vacant former public house at Latimer Road W10 6QW, over 3,457 sq ft, with development potential subject to planning, guide at £1.25m+.