Calmels Design Ltd, Southville, Lambeth, London

SUMMARY

• An opportunity to acquire a cleared freehold site in Nine Elms with full planning consent for 14 high end apartments and a large commercial space with potential for further units. 8 apartments have been sold off to international clients with 10% deposits being currently held with two-year long stop dates.

LOCATION

• The property is located on Southville, situated just off Wandsworth Road and directly overlooking Larkhall Park. Positioned within the highly desirable Nine Elms regeneration area, benefiting from significant local infrastructure and amenity improvements.

• The property is located just an 8-minute walk from Nine Elms Station and 7 minutes from Stockwell Station, providing direct services to London Bridge Station in approximately 16 minutes.

EXISTING

• The site is to be entirely demolished and cleared commencing in April 2026 to make way for the new development, offering a clean slate for the incoming purchaser.

PLANNING

• Planning permission was granted 31st March 2023 for the “Demolition of existing buildings and erection of 3 storey building plus setback roof level to provide a 297sqm floorspace of commercial unit (Use Class E) at ground floor level and 14 residential units (Use Class C3) at first, second and third floor levels comprising 2 x studio, 4 x 1 bed, 6 x 2 bed and 2 x 3 bed units, together with the provision of bin and cycle storage.” (Planning Ref. 20/04481/FUL)

• The proposed scheme will comprise 14 private apartments (2 x studio, 4 x 1 bed, 6 x 2 bed, 2 x 3 bed) arranged across 4 storeys, extending to a total area of approximately 9,337 SqFt NSA.

• The proposed scheme would also provide a commercial unit at ground level extending to approximately 3,195 SqFt.

• We have been advised that the vendor would be clearing the site to implement planning and will be paying half of the CIL. The remaining CIL amounts to £173.000

• We have been advised that the S106 contribution amounts to £715,000.

• The development is designed as a "car-free" scheme.

• There is a clear strategy to optimise the GDV by seeking planning permission to convert the ground floor commercial space into 4 further residential apartments, maximising the site's residential footprint.

TERMS

• The property is available freehold.

• Offers in excess of £4,000,000