Consented South East London Residential Development Opportunity

Abbey Wood Road, London SE2

£2,750,000

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Description

Consented development site for 30 residential units along with a ground floor commercial for sale.

The site is located approximately 100 meters to the South of Abbey Wood Mainline Station which is anticipated to have Crossrail by Autumn 2021.

The existing site measures to 0.27 acres (0.109 hectares) and comprises a 2 storey building which was formerly occupied by a post office. This has been vacant since January 2019

The property was originally constructed in circa 1970 as a main post office and sorting depot, with a brick cladding and frame structure. The site is on a gradient and the Post Office was located at ground floor level beneath the Sorting Office. The Sorting Office occupied both part ground and first floor level across the site measuring 8,528 square feet in total.

The site received resolution to grant permission at committee in December 2019 for the following scheme:

(Ref: 19/1081/F). “Redevelopment of the site to provide a five-storey building comprised of ground floor shared-workspace (Use Class B1), with 30 self-contained flats above (16 x 1 bed, 9 x 2 bed, 5 x 3 bed) (Use Class C3) as well as three residential disabled car parking spaces.” We understand that the s106 is now agreed with Royal Borough of Greenwich. The scheme includes 6 affordable units with further detail available in the dataroom. The S106 costings are approximately £88,700.

Vacant possession will be provided and unconditional offers are encouraged in excess of £2,750,000.

Location

90 Abbey Wood Road, Abbey Wood, London SE2 9NN

The property is prominently positioned on the corner of Conference Road and Abbey Wood Road, within 100 metres of Abbey Wood Mainline and Crossrail station. The site benefits from excellent transport links to the M25 via the Dartford Link and wider transport network.

The site is well served by public transport, with Abbey Wood station providing direct services to London Bridge (29 minutes) and Cannon Street (38 minutes). Journey times to Canary Wharf are approximately 37 minutes, with connections to the DLR network at Woolwich Arsenal.

From Autumn 2021 Crossrail services are scheduled to commence which will add up to 12 extra trains an hour. This will cut journey times with trains to Canary Wharf in 11 minutes, Bond Street in 25 minutes and Heathrow Airport in 51 minutes.

The London Borough of Bexley and The Royal Borough of Greenwich are working together to regenerate the local area. The plans include regeneration of the high street, a new library, new central square and new business and commercial space. HUB Development are constructing a Build to Rent scheme with additional retail and leisure amenities less than a mile to the north of the site. Further amenities close to the site include Sainsburys and Lidl which are situated to the north of the station.

Planning History

Ref: 19/1081/F | Planning Granted in December 2019 -  Redevelopment of the site to provide a part 4/ part 5-storey building comprised of shared-workspace (Use Class B1), and 30 self-contained flats (16 x 1 bed, 9 x 2 bed, 5 x 3 bed) (Use Class C3) as well as three residential disabled off-street car parking spaces.

Accommodation

FLAT SIZE (SQM) SIZE (SQFT)
1 50.5 543.5
2 88 947
3 50 538
4 69 742.5
5 54.5 586.5
6 54 581.5
7 50 538
8 114 1,227
9 75.5 812.5
10 50.5 543.5
11 86 925.5
12 51 549
13 64 689
14 53 571
15 52.5 565
16 50 538
17 75.5 812.5
18 50.5 543.5
19 86 925.5
20 51 549
21 64 689
22 53 570.5
23 52.5 565
24 50 538
25 75.5 812.5
26 50 538
27 87 936.5
28 67.5 726.5
29 66 710.5
30 70 753
TOTAL 1,911 20,568.6

Plans