Site Description

The proposed development is an opportunity to provide a high-quality new build scheme in Leyton, East London. The site now benefits from full planning permission for the demolition of the existing garages and the construction of 8 residential units (3×3 bedroom, 4×2 bedroom & 1×1 bedroom) extending to 576m2 / 6,200ft2.

Location

The site is located in Leyton, East London. Leyton lies close to the Olympic Park regeneration zone and although it is more affordable, it is fast becoming a desirable place to live. To the south, the Queen Elizabeth Olympic Park and Westfield Shopping Centre are a short walking distance away. Epping Forest lies to the east and Hackney Marshes are west. Leyton High Street itself has undergone some regeneration and has an eclectic choice of shops, cafes and restaurants, representing many different cuisines. Local schools in the area are good, with Riverley and Willow Brook Primary Schools 0.3 miles away, both rated as outstanding by Ofsted. There is a large choice of Academy secondary schools within a mile of the site.

Transport

Leyton underground station (Central line) is 0.7 miles away with trains taking 5 minutes to Stratford, 14 minutes to London Liverpool Street and 24 minutes to Oxford Circus. By car the A12 links to the M11 in 15 minutes and the M25 in 20 minutes.

Planning Permission

Full planning permission was granted on the 29th March 2019 via Waltham Forest council under the planning reference 184022 for the demolition of existing garages and the construction of 3 buildings (two and three storey) comprising 8 self-contained flats (1×1 bedroom, 4×2 bedroom and 3×3 bedroom) together with refuse and cycle storage.

Financial Contributions

The property is liable for a Mayoral CIL and Waltham Forest Council CIL of approximately £75,000. A further S106 contribution of £10,000 is also payable.

Tenure

Freehold with VP expected in summer 2019 (tbc).

VAT

We understand that VAT is not applicable.

Additional Information

There is further scope subject to planning permission for a 9th unit in the North East block Planning documents, floor plans and other related documents can be provided in the form of a further information pack.

Viewings

Are to be arranged with a member of the Highfield team.

Terms

Highfield invite offers in excess of £1,500,000 subject to contract.