2-3 Clifton Terrace, London N4 3JP

SUMMARY

* Opportunity to acquire a mixed-use block with planning permission imminent for a mixed-use scheme comprising 1 commercial unit and 4 apartments.

LOCATION

* The property is prominently situated on the south side of the busy Clifton Terrace, 150m from Finsbury Park Station and 100m from the popular retail fashion hub of Fonthill Road. Neighbouring occupiers include Starbucks, Superdrug, Nisa Local, M&S Food and Gails, as well as an eclectic mix of local retailers.

EXISTING

* The site extends to approximately 0.04 acres.

* The application site is occupied by a part 1/ part 2 storey rectangular mixed-use block built in the 1960s, with commercial (Class E) on the ground floor and a single apartment on the first floor.

* The existing building has a part flat roof (first floor) and pitched roof (single storey over class E units). The existing elevations have a part brick / part render facade.

* The existing cafe and barbers can only be accessed by Clifton Terrace. There is no rear access to the site. A single door onto Clifton Terrace provides access to a private stair and small apartment on the first floor above the cafe / barbers.

* The leases for both the café, barbers and the flat above have expired and the site is being sold with vacant possession.

PLANNING

* Planning was submitted on 11th December 2024 for "Demolition of existing part single, part two storey commercial (Class E) and Residential (C3) block and construction of replacement five storey block comprising Class E floorspace at ground floor level (plus basement with excavation) and 4 no. residential units at the upper floors (1x3 bed and 3x2 bed)" (Planning Ref. P2024/3690/FUL)

* The proposed development would entail the erection of a six-storey building (Basement - Fourth) to provide Class E use across basement - ground extending to approximately 2,368 SqFt (GIA) and four apartments across the upper floors (1x3 bed and 3x2 bed) extending to approximately 3,756 SqFt (NIA).

* We have been advised that the proposed development would be liable for a S106 contribution of approximately £153,000.

TERMS

* The property is not elected for VAT.

* The property is available freehold.