Development
properties
Garages adjacent to
41 Wilmot Road
Leyton E10 5LT
Offers in excess of £1,500,000
Freehold development opportunity with planning permission for 8 apartments
Planning permission to construct 8 apartments measuring 576m2 / 6,200ft2
Site area extending to 591m2 / 6,362ft2
0.6 miles to Leyton Underground Station
Freehold
Offers in excess of £1,500,000
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.
Please note the information provided by Highfield Investments London Limited, trading as Highfield Investments has been given in good faith, however all parties must undertake their own due diligence to satisfy themselves in regards to accuracy.