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Price History
Our Summary
- Rare freehold development opportunity on a rectangular 5,107 sq ft (approx
- Existing 16 lock-up garages and sub-station, currently vacant/derelict and ready for demolition
- Planning approved (pending s106) for a 9-flat scheme including cycle storage, refuse facilities and communal amenity space
- A rare freehold residential development opportunity comprising a rectangular concrete hardstanding site extending to approximately 5,107 sq ft
- The garages are presently vacant/derelict and the site offers significant redevelopment potential, subject to the requisite consents
- Planning is now APPROVED (showing currently as pending whilst the s106 is negotiated) for the demolition of the existing garages and erection of a part 3, part 4 storey residential building comprising nine flats, together with associated amenity space, cycle storage and refuse facilities
- We understand there may be scope to serve a Section 25 notice to formally terminate the existing lease and either negotiate terms for a new lease or agree relocation of the substation, subject to the relevant statutory procedures and consents
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Description
The property is a 5,107 sq ft concrete hardstanding site on Aldersgrove Avenue, accommodating 16 single lock-up garages and a small electricity sub-station. The garages are currently vacant and offer redevelopment potential. The site is flat and rectangular with good road connectivity via the nearby A20.
An electricity substation lease is registered against the property, expiring in 2023 but continuing under statutory provisions. Planning is approved for the demolition of the existing garages and erection of a part 3, part 4 storey residential building comprising nine flats, together with amenity space, cycle storage, and refuse facilities.