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12 bedroom block of apartments for sale
78-79 White Lion Street, London, N1
£2,850,000
78-79 White Lion Street, London, N1
£2,850,000
Our Summary
- *CONSENTED RESIDENTIAL DEVELOPMENT OPPORTUNITY* * A prime residential development opportunity with planning permission for reconfiguration and redevelopment in the heart of Islington
- * The building is currently arranged as 5 well-appointed apartments which are in need of refurbishment totalling 3,455 sq
- * Planning permission has been granted by Islington Council (REF: P2021/3069/FUL) for a two-storey rooftop extension
- The apartments are significantly underlet, generating an annual rental income of £93,300, providing an immediate opportunity for rental uplift
- The property benefits from planning permission (REF: P2022/2653/FUL) granted by Islington Council for a two-storey rooftop extension
- This property is ideal for developers or investors seeking an attractive capital growth opportunity in one of London's most sought after locations
Description
This is a rare consented residential development opportunity in the heart of Islington, located just a short walk from Angel Station. The existing five apartments, totaling 3,455 sq ft NIA, are currently let on ASTs and generate an annual income of £93,300. Planning permission has been granted for a two-storey rooftop extension, which will create two additional apartments, resulting in a well-balanced mix of 2 studios and 5 two-bedroom units with a combined NIA of 4,776 sq ft. The property offers an attractive capital growth opportunity for developers or investors, with a freehold title and no ongoing management responsibilities. With trendy shops, entertainment, and cultural amenities nearby, this is an ideal location for those seeking the best of city living.