Residential development opportunity for sale.
An application has been submitted to Wandsworth Borough Council planning department, under reference 2020/4512 for:
"Demolition of existing buildings and erection of a prt-1, part-3, part-4 storey building to accommodate 17 residential units (3x 1 bedroom, 13x 2 bedroom and 1x 3 bedroom units) together with a flood water attenuation tank at basement level, landscaping, bicycle and refuse storage, and works to the river wall.
The application status is noted as registered with the recommendation of approval subject to legal agreement and CIL.
Section 106 contributions will be dictated by how affordable housing is treated. The Borough's preference is for 13x private units and 4x shared ownership. If no Registered Provider is identified to take the affordable units, an enhanced commuted sum can be paid. Section 106 payment, subject to finalising could range between £230,000 - £612,000.
CIL payments - to be confirmed.
Location
Earlsfield is a popular locality within the London Borough of Wandsworth in South West London. It is a typical London suburb and comprises mostly residential Victorian terraced houses with a high street of shops, public houses, bars, and restaurants between Garratt Lane, Allfarthing Lane, and Burntwood Lane.
The open spaces at Wandsworth Common and Garratt Park along with its excellent schools and transport links makes it a popular location for young professionals and families alike.
The site itself is located on the eastern side of Ravensbury Terrace, close to its junction with Ravensbury Road and just 300m from Earlsfield train station.
Accommodation
Unit Area - Total - 1.178.5 sq m (12,685 sq ft)
Gross External Area - Total - 1,633 sq m (17,577 sq ft)
Gross Internal Area - Total - 1,469 sq m (15,812.18 sq ft)
See attached brochure for information.
Terms
Asking Price - Offers in excess of £3,000,000 (Three Million Pounds) are invited for the freehold interest.
Sale By Receivers - The property is offered for sale on behalf of the Joint LPA Receivers.
The Receiver offer not title or collateral warranties associated with this property or transaction.
The Receivers act without personal liability.
Tenure - Freehold
Legal Costs - Each party is to be responsible for their own legal costs incurred throughout the transaction.
Specification
- Freehold
- Application submitted to build 17x residential apartments
- 3x 1 bed, 12x 2 bed and 1x 3 bed apartments
- Approximately 300m from Earlsfield Train Station
- Earlsfield is a popular locality within the London Borough of Wandsworth in South West London