Stirling Road, London, W3
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Residential development for sale
Key features
- Opportunity to acquire a prominent residential development opportunity within an area of significant redevelopment, located near to TFL's Bollo Lane masterplan and Acton Gardens masterplan areas
- Resolution to grant planning permission for new build scheme of 51 residential apartments (7 x 1 bed, 32 x 2 bed, 12 x 3 bed) and 8,818ft² of light industrial space
- 33 of the residential units will be for private sale with 18 allocated for affordable housing
- Offers invited in the region of £5,500,000 for the freehold interest
Description
The existing property comprises a light industrial warehouse with ancillary offices, falling into Use Class B1(c) and arranged over 2-storeys. The existing buildings extend to approximately 7,865ft² on a broadly rectangular site of 0.22 acres (0.89 Ha).
The surrounding area largely comprises light industrial buildings and offices with many of these properties subject to planning applications or permission for redevelopment to deliver mixed-use development.
LOCATION:
The property occupies a prominent position between Bollo Lane and Stirling Road, Acton within the London Borough of Ealing.
The immediate Bollo Lane area has seen significant redevelopment with the property located near the TFL Bollo Lane masterplan area with works expected to begin in summer 2024 to create in excess of 850 new homes. The property also sits south of Acton Gardens masterplan, a JV between
Countryside and L& Q which will deliver in excess of 3,400 new homes when complete.
Acton Town underground station (0.4 miles) and South Acton overground station (0.3 miles) are both within walking distance of the property.
PLANNING:
A resolution to grant planning permission (reference: 224830FUL) was given on 5th March 2024 for the demolition of the existing building and creation of a new build scheme of 51 residential apartments and light industrial space across 12-storeys.
The proposed development will provide 7 x 1 bed, 32 x 2 bed and 12 x 3 bed apartments totalling 40,528ft² (NIA) and 8,818ft² of light industrial.
A section 106 agreement is in draft form which proposes that 18 of the apartments will be allocated for affordable housing (9 x London Affordable Rent and 9 Shared Ownership) as well as £495,883 in financial contributions.
A CIL liability of approximately £250,000 is also payable. Please note that this is an indexed estimate as of May 2024 and should not be relied upon, any prospective purchasers should undertake their own analysis.
TENURE:
The property is being sold freehold.
VAT:
We understand the property is not elected for VAT.
TERMS:
Offers invited in the region of £5,500,000 for the freehold interest.
Brochures
Stirling Road, London, W3
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- South Acton Station0.2 miles
- Acton Town Station0.3 miles
- Chiswick Park Station0.5 miles
Notes
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