78-79 White Lion Street, London, N1

*CONSENTED RESIDENTIAL DEVELOPMENT OPPORTUNITY*

* A prime residential development opportunity with planning permission for reconfiguration and redevelopment in the heart of Islington.

* The property is conveniently located just 0.1 miles from Angel Station (Northern line), offering residents the best of city living, with trendy shops, entertainment, and cultural amenities just moments away.

* The building is currently arranged as 5 well-appointed apartments which are in need of refurbishment totalling 3,455 sq.ft NIA.

* Planning permission has been granted by Islington Council (REF: P2021/3069/FUL) for a two-storey rooftop extension. This extension will create two further apartments.

* The proposed development will consist of a well-balanced mix of 2 x studios and 5 x 2 beds with an NIA of 4,776 sq ft.

* The existing apartments are fully let on ASTs, producing a total of £93,300 per annum.

* CIL and Section 106 payments £173,370.

* Freehold.

We are instructed to seek offers in excess of £2,850,000 (Two Million Eight Hundred and Fifty Thousand Pounds.) subject to contract.

DESCRIPTION

An exceptional freehold block currently consisting of five well-appointed apartments,
comprising a NIA of 3,455 sq ft. 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 extension will create two additional apartments.
Upon completion of the redevelopment works the property will consist of a well-balanced mix
of 2 x studios and 5 x 2-bedroom units, with a combined NIA of 4,776 sq. ft. These new units
will provide modern and spacious living spaces, which also benefit from private balconies.
This property is ideal for developers or investors seeking an attractive capital growth opportunity
in one of London's most sought after locations.