Freehold Development Site For Sale, 116 Residential Units - London E10

Planning permission granted


80 Ruckholt Road,  Leyton, 
LONDON E10 5PG


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Site area: 7689.0 sq.m. (82763 sq.ft.)

The subject site is prominently located on the north side of Ruckholt Road A106 with a return frontage to Oliver Road in an area of East London which has seen great improvement over recent years. Dunedin Road forms the northern boundary of the site a residential side turning off Oliver Road. Ruckholt Road is the primary thoroughfare into the London Borough of Waltham Forest and connects Leyton to the Queen Elizabeth Olympic Park which is only 750 metres to the south of the site.

The site is well-served for the public transport network with main bus routes available. Leyton Underground station (Central Line) is less than 400 metres to the east with journey times to Liverpool Street of 15 minutes and Stratford station of 6 minutes.

Stratford International station, approximately 1.3 km to the south, provides a high speed service which takes only 7 minutes to connect to London St Pancras and the Eurostar.

Stratford station is also on the Docklands Light Railway and Jubilee Line - the journey times to Canary Wharf being 12 and 14 minutes respectively.

National Rail destinations from Stratford station include East Anglia, north-east London and Liverpool Street. There are half hourly services from Stratford Station to Stansted Airport with a journey time of 1 hour.

The excellent existing public transport infrastructure provision will continue to improve when Stratford Crossrail station opens in 2018/2019. This will provide a direct connection to Tottenham Court Road in only 13 minutes and to London Heathrow Airport in 43-49 minutes. A recent study by CBRE Residential predicts house prices will increase by 13% over and above general house price inflation around Crossrail stations outside Central London by the time Crossrail opens.

Comprehensive main road networks provide easy links to Central London, High Road Leytonstone A11, East Cross Route A12, A13, High Road Leyton A112, M11 and M25 motorways.

The Westfield Stratford City shopping centre, adjoining Stratford International station, is within walking distance to the south being one of the largest urban shopping centres in Europe comprising 175,000 square metres of retail floor space with 300 stores including Marks & Spencer, John Lewis and Waitrose as well as a Vue Cinema complex.

Leyton Town Centre provides local shopping facilities within short walking distance.


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Description:

This landmark site extends to 1.90 acres, being approximately triangular in plan. It currently houses a Glyn Hopkin Nissan car showroom and car repair workshop, with extensive hard surfaced sales display forecourts and parking.

London Borough of Waltham Forest recognised this site as being of strategic importance and planning consent (reference 2011/0876) was granted for the proposed redevelopment of the site on 27th September 2012.

The approved scheme comprises 116 units including 106 apartments and 10 houses together with 1,000 square metres of artist studio workspaces. The majority of the residential units have gardens or terraces - some have more than one terrace. Please refer to the downloadable drawings for further detail.

The total Gross Internal Area of the scheme is 13,938 sq.m. of which 2,105 is below ground.

The development is configured in a perimeter block arrangement as follows: a three to six storey apartment building to Ruckholt Road; a three to four storey building to Oliver Road incorporating the artist studio space on the southern edge & apartments to the north; and a terrace of three storey family houses to Dunedin Road.

The Section 106 agreement stipulating the affordable housing provision and infrastructure payments is available to download.

Accommodation:
Site area: 7689.0 sq.m. (82763 sq.ft. / 1.90 acres) 

comprising:

31 x 1 bed flats (private) 1561.00 sq.m / 16802 sq.ft
Refer to detailed accommodation schedule - downloadable
47 x 2 bed flats (private) 3353.00 sq.m / 36091 sq.ft

7 x 2 bed flats (shared ownership) 519.00 sq.m / 5586 sq.ft

19 x 3 bed flats (private) 1655.00 sq.m / 17814 sq.ft

1 x 3 bed flat (shared ownership) 85.00 sq.m / 914 sq.ft

1 x 3 bed flat (affordable rent) 85.00 sq.m / 914 sq.ft

7 x 4 bed houses (affordable rent) 999.00 sq.m / 10753 sq.ft

3 x 5 bed houses (affordable rent) 443.00 sq.m / 4768 sq.ft

Artist studio space 602.00 sq.m / 6479 sq.ft

TOTAL SALEABLE FLOOR AREA 9302.00 sq.m / 100125 sq.ft


  • 59 car parking spaces 
  • 148 cycle parking spaces 
  • 10 motorbike spaces 
Terms:
Freehold for sale with vacant possession anticipated by Q4 2014 / Q1 2015. Our client will also give consideration to detailed joint venture proposals. Planning permission has been granted in accordance with the Unilateral Undertaking dated 14th September 2012 and the provisions of Schedule 7 therein, which will apply to any future development.
Service charge:
-
Local authority:
London Borough of Waltham Forest
Rateable Value:
£171,000    Estimated Rates Payable: £84,303 per annum
Viewings:
By prior appointment with Gilmartin Ley, telephone 020 8882 0111 - Click here for Enquiries
Reference:
18067    Updated: 12 May 2015