Description
The existing site comprises of a vacant corner building. The proposal seeks the demolition of the existing building to make way for redevelopment to provide a 9 storey building comprising a 28 bedroom hotel, reception, restaurant and associated amenity space. The scheme is 25% DDA compliant with all the double bedrooms featuring ensuite bathrooms. A basement level will host all plant space and other amenity spaces. Previously the development site had planning permission which was granted in 2015 for the erection of a 9 storey residential building comprising of 4×2 bedroom flats, 2×4 bedroom duplex flats and a ground floor commercial unit (Class A1 or B1(a)), basement and roof top garden.
Location
The site is located in the area falling under the London Legacy Development Corporation located between the Stratford Centre and Olympic Park Area. Stratford in East London is home to the Olympic Park, a great selection of cultural venues and the largest urban shopping centre in Europe, Westfield Stratford City. Stratfords sporting venues include the Olympic Stadium, the Aquatics Centre, the Riverbank Arena, the Velodrome and the Basketball Arena. Stratfords other local attractions include the Picturehouse cinema and the Victorian theatre. The town centre appeals to the hotel market mainly due to the growing number of tourists and business activities.
Transport
The site is well positioned allowing good vehicular access to and from the City, A11, A12, A406 North Circular Road and Docklands. Stratford is a major transport hub and has excellent rail, Tube and bus links including Stratford International – rail, Stratford High Street station – DLR, Stratford Station – Central Line, Overground, DLR, Stratford bus station, and Stratford City bus station.
Planning Permission
Planning permission was granted on the 28th of November 2016 under the application number: 15/00361/FUL for the demolition of existing building and the erection of 9 storey building comprising a 28 bedroom hotel, reception, restaurant and associated amenity space.
Access
Access is to be made strictly by appointment only with sole agents Highfield Investments.
Additional Information
Planning and other related documents will be sent in the form of an information pack that can be requested from a member of the Highfield team.
Financial contributions
The property is liable for the CIL and MCIL1 charge payment of approximately £188,000. There is a S106 payment of £13,000.
VAT
We have been advised that VAT is not applicable
Tenure
Freehold.
Terms
Offers in excess of £2,400,000 for the freehold interest.
