Stafford Cripps House, Globe Road, Bethnal Green, London, E2 0LN

SUMMARY

* Opportunity to acquire an airspace development opportunity on a long leasehold to provide 7 apartments and a communal roof terrace.

LOCATION

* The property is located on Globe Road and is a 6-minute walk to Bethnal Green underground station offering Central line services.

EXISTING

* The existing building is currently arranged across three storeys.

PLANNING

* Planning permission has been granted on the 13th June 2024 for the "Demolition of existing pitched roof and addition of two new storeys and a roof terrace above the existing building to add seven new residential apartments. Associated works to provide lift access to all floors, refuse storage and cycle parking." (Planning Ref. PA/23/00296)

* The proposed scheme will provide two additional stories comprising 7 apartments (3 x 1 bed, 3 x 2 bed, 1 x 3 bed) extending to approximately 4,609 sqft NSA.

* The proposed roof terrace will extend to approximately 1,371 sq ft (127 sqm).

* 24 secure cycle spaces (12 x Sheffield Stands) would be provided on the ground floor.

* The proposed airspace development is subject to a CIL liability of approximately £117,713.

* The proposed airspace development is subject to a S106 contribution of £56,473.

* Airspace development rights are offered for sale on a long leasehold basis, and licenses will be provided to the incoming purchaser to enable the construction of the proposed scheme.

TERMS

* The property is not elected for VAT.

* The property is available on a long leasehold (999 years).