Victoria Wharf, St Johns Terrace, Ladbroke Grove, London, W10 4RBLadbroke Grove London W10 4RB
For SaleSold £3,000,000
Victoria Wharf, St Johns Terrace, Ladbroke Grove, London, W10 4RB
The existing site comprises of a builders yard (Sui Generis) and associated parking facilities totalling 1,583 sq.ft GIA.
Planning was granted in May 2018 for the demolition of the existing builders yard and erection of a 8,356 sq.ft GIA Development arranged over part five storey and part three storey building, providing 9 self contained units.
The proposed flats would all meet the minimum space standards contained within the Nationally Described Space Standard (March 2015). They would also be dual aspect and would include outdoor amenity space in the form of balconies facing the canal.
The proposed development includes lift access to all floors complying with part M Building Regulations – Access to and Use of Buildings.
The site lies on the north side of the Grand Union Canal (Paddington Branch) and at the southern end of St John’s Terrace. It is not within a conservation area and the nearest designated heritage asset is the Grade II listed Kensal House, which lies to the east.
Close proximity to Kensington Gardens, Queens Park and the Linford Christie Stadium.
The property is well connected to Central London via Kensal Green (10 mins) and Ladbroke Grove Stations (15 mins) with Journey Times of 10 minutes into the West End and 25 minutes to Canary Wharf.
National Rail & London Overground services also operate to London Euston, a journey that takes around 15 minutes. Trains also connect to Watford Junction.
LOCAL MARKET COMPARABLES
Last year most property sales in the area involved flats which sold for on average £941,500. Terraced properties sold for an average price of £3,057,625, while semi- detached properties fetched £9,151,250.
During the last year, sold prices within a 1⁄2 mile radius were 6% up on the previous year and 17% up on 2014 when the average house price was £1,367,114.
Local market data points to the subject site achieving in excess of £1000 psf.
GDV of £7.5m based on £900 psf.
The positon on VAT is to be confirmed.
A full data room is available upon request.