9 The Square, Woodford Green, Essex, IG8 0UQ

StrapLine

Auction Sale - 21/11/2023

Of interest to Investors Developers and Owner Occupiers. Detached former warehouse/office building. Freehold Development / Investment Opportunity with planning.

Description

The property comprises a detached vacant two storey Victorian warehouse building of circa 1,701 sq ft (158 sq m).

Benefitting from private access from The Square, the property was previously used as a warehouse for storage and distribution (Class B8) and is in need of modernisation/refurbishment.

The property has recently obtained planning consent for conversion to residential use, providing 3 x self-contained flats (2 x two-bedroom units of 764 sq ft and 754 sq ft, and 1 x Studio of 441 sq ft) with associated amenity space, cycle and refuse storage giving a consented GIA of 2,206 sq ft. We understand that no Section 106 payments are required.

The property is situated in the established and sought after location of Woodford Green. The area is popular with commuters and residential properties generally command a premium due to the area's excellent communications with Central London.

Location

Woodford Green is an attractive North East London suburb approximately 7 miles from the City of London and 8 miles from the West End. The area is bounded by Chingford and Higham's Park to the west, Chigwell and South Woodford to the east and is served by the A104, North Circular Road (A406) and M11. Mill Lane is a short walk from Woodford Central Line Station (22 mins to Liverpool Street & 32 mins to Oxford Circus).

Woodford Green is one of East London’s more rural suburbs and forms part of the London Borough of Redbridge. The area benefits from a wealth of parks and recreational sports grounds including Golf & Rugby Clubs and a large selection of restaurants and shops. Mill Lane itself is just off Woodford High Road close to significant routes into surrounding areas (A1009 & A1199). An attractive road that falls within the Woodford Village conservation area and is populated by a range of commercial and residential properties.

Accommodation

Please note the approximate areas have been provided by a third party and the property has not been inspected by Savills.

Planning

The property has recently obtained planning consent (Reference: 2490/23) for conversion to residential use, providing 3 x self-contained flats with the below NIA areas:

Flat 1 - Two Bedrooms - 764 sq ft (71 sq m)

Flat 2 - Two Bedrooms - 754 sq ft (70 sq m)

Flat 3 - Studio - 441 sq ft (41 sq m)

The proposed development also includes associated amenity space, cycle storage and refuse storage. We understand there are no Section 106 obligations.