Alpha Canary Wharf Investors

London,

124 views

Dec 18, 2024

  • 2,927 m²

SUMMARY

Opportunity to acquire a consented mixed-use development for 26 apartments, a recreation room and 1 commercial unit on the ground floor.


LOCATION   

  • The site is broadly triangular in shape, and is bound by East Ferry Road to the southeast, Marsh Wall and a vacant strip of land to the northwest, and residential properties on Chipka Street to the south.
  • The site benefits from good transport links with Canary Wharf Underground Station approximately 15-minute walk away and South Quay DLR Station approximately 10-minute walk.  
  • The surrounding area predominantly comprises residential accommodation at the western, southern, and eastern boundaries with a number of office buildings to the north  

    EXISTING  

  • The site extends to approximately 0.22 acres and currently comprises a vacant retail unit (Nos. 8-10, formerly known as Harry’s Café), a vacant end-of-row market tenure townhouse (No. 12) and cleared land previously occupied by three townhouses (Nos. 2-6).   
    Properties 2, 4 and 6 East Ferry Road were demolished in June 2016.  
  • The ‘nose’ of the Application Site (adjacent to the roundabout junction) is Council owned land and is designated as Publicly Accessible Open Space.    

    PLANNING       
    Conditional permission was granted on 20th August 2024 for the “Demolition of the existing buildings on site and erection of a part 3, part 7 and part 8 story building to provide flexible commercial floorspace (Use Class E) on the ground floor and residential units (Use Class C3) on the upper floors, with ancillary amenity space, cycle storage, refuse storage, mechanical plant and landscaping, and other associated works to East Ferry Road including provision of a blue badge parking space and pedestrian enhancement works. (Planning reference: PA/23/01038/A1).    

    The proposed scheme will provide 22 private residential units (7 x 1 Bed, 9 x 2 Bed, 5 x 3 Bed, 1 x 4 Bed),  3 Affordable Rent Housing (1 x 2 Bed, 2 x 3 Bed), 1 Intermediate Housing (1 x 1 Bed) extending to approximately 21,502 Sq Ft (NIA).

     

  • The proposed scheme will also provide 1 commercial unit extending to approximately 873 Sq Ft.
  • There is a further recreation room of approximately 1,062sqft on the ground floor and 49 cycle spaces.
  • The overall Gross Internal Area of the scheme including common areas will be 2,927.3 sq m (31,510 sq ft).
  • Potential for alternative use such as serviced apartments or a hotel scheme, subject to obtaining necessary planning consents.
  • A red book bank valuation has been prepared by Cushman & Wakefield in October 2024 reflecting a £5,380,583 land value, available upon request.
Price:
£5,250,000 Sale
  • Square 2,927 m²
  • Number of floors 8

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