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Residential-led Development Opportunity
Adastra House, 401-405 Nether Street,
London N3 1QG
For Sale Freehold
CGI of consented scheme
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Residential-led mixed use development opportunity in
Finchley
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0.17 acre (0.07 hectare) site currently occupied by a three
storey office building with a double pitched roof, extending
to approximately 862 sq m (9,279 sq ft) of net internal area,
with a 12 space surface car park to the rear.
Savills London
33 Margaret Street
London
W1G 0JD
savills.co.uk
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Detailed planning permission has been secured for a
new build scheme comprising 34 private residential units
extending to a net saleable area of 2,063 sq m (22,206
sq ft), with 126.4 sq m (1,360 sq ft) GIA of B1a offices at
ground floor and 35 parking spaces over two basement
levels.
g
For sale freehold with vacant possession
TH E G
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51
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Norman Court
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Central
House
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n Controller of H.M. Stationery Office.© Crown copyright licence number
NOTE:- Reproduced from the Ordnance Survey Map with the permission of the
100022432 Savills (UK) Ltd.NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.
Location
Description
The property is situated on the corner of
Nether Street and Albert Place, close to
the junction with Regent’s Park Road and
Ballards Lane (A598).
The site extends to 0.17 acres
(0.07
0m 10m
20m 30m
hectares) and is currently occupied by a
three storey vacant office building with a
double pitched roof extending to a net
internal area of approximately 862 sq m
(9,279 sq ft) with surface car parking for 12
vehicles to the rear.
The immediate area provides a variety of
retail offerings, including a Tesco Superstore,
as well as cafes, restaurants and bars.
Avenue House Grounds provides green
open space 550 metres to the south and
Finchley Golf Club is located 650 metres to
the north west.
Finchley Central underground station is
approximately 140 metres south east of the
property and offers Northern Line services.
This allows for direct access to King’s Cross
/ St Pancras (8 stops / 19 minutes), Bank
(12 stops / 28 minutes) and Tottenham Court
Road (11 stops / 22 minutes). The property
is well served by multiple bus routes from
Regent’s Park Road travelling to Archway
and Victoria and from Nether Street itself to
Mill Hill and Brent Cross Shopping Centre.
By road the North Circular (1.1km south
east) provides a quick route around London,
and the M1 (3.8km west) allows easy access
to the M25.
3
Sorting Office
Ordnance Survey © Crown Copyright 2015. All rights reserved.
Licence number 100022432. Plotted Scale - 1:1250
The site is bounded to the south west by
Nether Street, to the south east by Albert
Place, to the north east by an office building
known as Lawford House and to the north
west by a residential block known as Alan
Lodge.
Planning
The site is located in the London Borough of
Barnet. The building is not listed and does
not fall within a conservation area.
Full planning permission (Ref: F/03751/11)
was granted on 29th November 2012 for:
“Demolition of the existing building and
redevelopment of site to provide a mixed use
scheme38 over two basement levels, ground
1
floor and 5 upper floors and roof terrace to
provide 126 sq m of office (use class B1)
space on the ground floor, 34 residential
units (use class C3) above, basement car
parking for 35 cars and associated amenity
space, refuse storage, cycle parking and
landscaping and works.”
The application is subject to a Section 106
Agreement totalling £208,981. In addition
there is also a viability linked affordable
housing contribution up to a maximum
of £2,380,000. The full Section 106
Agreement is available on the dataroom.
The development will also be subject to a
mayoral CIL contribution of approximately
£152,145.
The scheme will be delivered in a single new
building set over 6 storeys with two levels
of basement parking, accessed from Albert
Place via a car lift. The residential entrance
will also be from Albert Place, whilst the
commercial unit is accessed from Nether
Street.
Accommodation
Residential Areas
Net Saleable Area
Unit Number
Floor Level
Unit Type
1
First
2
3
Gross Internal Area
SQ M
SQ FT
SQ M
SQ FT
1 bed
51
549
470.1
5,060
First
1 bed
50
538
First
2 bed
80
861
4
First
1 bed
50
538
5
First
3 bed
89
958
6
First
1 bed
50
538
7
First
1 bed
50
538
8
Second
1 bed
51
549
470.1
5,060
9
Second
1 bed
50
538
10
Second
2 bed
80
861
11
Second
1 bed
50
538
12
Second
3 bed
89
958
13
Second
1 bed
50
538
14
Second
1 bed
50
538
15
Third
1 bed
51
549
470.1
5,060
16
Third
1 bed
50
538
17
Third
2 bed
80
861
18
Third
1 bed
50
538
19
Third
3 bed
89
958
20
Third
1 bed
50
538
21
Third
1 bed
50
538
22
Fourth
1 bed
51
549
470.1
5,060
23
Fourth
1 bed
50
538
24
Fourth
2 bed
80
861
25
Fourth
1 bed
50
538
26
Fourth
3 bed
89
958
27
Fourth
1 bed
50
538
28
Fourth
1 bed
50
538
29
Fifth
3 bed
87
936
433.5
4,655
30
Fifth
2 bed
80
861
31
Fifth
1 bed
50
538
32
Fifth
2 bed
66
710
33
Fifth
1 bed
50
538
34
Fifth
1 bed
50
538
2,063
22,206
2,312.9
24,896
TOTAL
Other Accommodation
Gross Internal Area
Use
Floor Level
SQ M
SQ FT
Office (B1)
Ground
126.4
1,361
Reception / Lobby
Ground
72.9
785
Refuse
Ground
27.1
292
Circulation
Ground
18.6
200
Substation
Ground
21.1
227
Cycle Parking
Ground
46.4
499
1,084.7
11,676
246.8
2,657
1,644
17,697
Car Parking
Circulation/Plant
TOTAL
Basement /
Sub-basement
Basement /
Sub-basement
Existing Building
Method of Sale
The property is for sale by way of informal
tender (unless sold prior).
VAT
The property is elected for VAT.
Tenure
The property is held freehold with vacant
possession.
Viewings
Viewings are strictly by appointment, please
contact the sole selling agents to make an
appointment.
Further Information
Further information can be found on the
dedicated dataroom:
www.savills.com/adastrahouse
Contact
Darren Arnold
020 7409 9926
[email protected]
Harry de Lotbiniere
020 7016 3852
[email protected]
CGI of consented scheme
Important Notice
Savills, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their
own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars.
These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily
comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have
not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
Designed and Produced by Savills Marketing: 020 7499 8644 | March 2015