From
£750,000
Mobile/park home for saleGreen Lanes, London N16
- Auction
Savills - National Auctions
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About this property
A freehold three storey building currently arranged to provide a ground floor commercial unit and three residential units
Ground floor commercial unit and flat vacant
Two upper flats subject to long leases
Consented development with permission granted to provide four apartments (one x one bed, two x two beds and one x three bed)
Located on Green Lanes, Stoke Newington around 0.1 miles from Newington Green
The development will provide a total of 3,002 square feet (279 square metres) NIA of accommodation
Strapline
Auction Sale - 28/05/2025
Of interest to developers - A freehold mixed use building with planning permissions for conversion of the ground floor to residential units and the addition of further flats on the rooftop. Two flats sold on leases. Remainder vacant.
Description
The property comprises a three storey mixed use building arranged over three floors under a pitched roof. The ground floor currently consists of a one bedroom apartment, a self-contained commercial unit, and a rear yard. The uppers two floors comprise two apartments that are sold off on long leases. The building benefits from a right of way over the land to the right hand side (see title plan).
Location
The property is located within a three-storey block facing Green Lanes, Stoke Newington. Stoke Newington is a vibrant and popular part of north London.
Transport
The area is well served by public transport with Canonbury station, Dalston Kingsland station and Dalston Junction station all within walking distance.
Tenancy
Flats 50A and 50B on the first floor are subject to a single lease for a term of 999 years at a peppercorn rent.
Accommodation
The ground floor currently consists of a one bedroom apartment, a self-contained commercial unit, and a rear yard. The uppers two floors comprise two apartments that are sold off on long leases.
Planning
Local Planning Authority
The London Borough of Hackney
E.
T. The property benefits from three planning consents which are summarised as follows.
2023/1052 and 2024/1628 (Ground Floor)
Prior Approval (Class ma) for change of use from office (Class E) to residential. The ground floor has then been granted full planning permission to reconfigure and extend the ground floor to create two x two bedroom apartments. Both apartments benefit from a private garden area.
2024/1717 (Airspace)
Prior approval for the erection of two additional storeys to create two apartments. The apartments would be arranged as one x one bedroom and one x three bedroom flat.
We are informed that there are two s.106 agreements with a combined cost of £1,110 which are monitoring costs. The cil payment is expected to be approximately £58,000.