Purchase Price  £11m for the site with full planning consent.  Reduced to £8.5M

 

This is in London Zone 5, and has full planning permission.

 

The ground floor has an agreement in place to let to a cinema operator at £240k Pa on a 15 year lease.

There is a Savill's valuation on the apartments attached and a build cost from Laxcon construction to build out the site along with a link to the planning portal showing the whole scheme.

Also a link to the evening standard where the press have reported on the scheme.

An ols Art Deco cinema is on site with a 15 year lease ready to be signed by a well known Cinema Group with a new owner.

 

The commuted payment in lieu of social housing is £1,260,000.00
CIL - £900,000.00
S106 - £150,000.00

Here is the link to planning:

 

https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fplanningsearch.harrow.gov.uk%2Fplanning%2Fsearch-applications%23VIEW%3FRefType%3DGFPlanning%26KeyNo%3D926906%26KeyText%3DSubject&data=02%7C01%7C%7Cc337f9a4337a4ce764e008d7c418c2fa%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637193482931470654&sdata=dFBuapZI2QbZGmPvCf1S1cdDAg8PE4Yy3Xj9qMdZCBU%3D&reserved=0

Also attached is an email from Savills confirming the GDV of the flats.There is an agreement to sign a lease for the ground floor for 15 years to Arthouse who are a cinema operator. We are also sending you a price from the contractors Laxcon Construction Ltd. As you can see the price is £19,300.00 but this has not been subject to any re-negotiations and we believe we can get this price once information has been provided, so the cost of risk in this quote will be reduced.

Here is a link for the Evening Standard Report on this development:

https://www.homesandproperty.co.uk/property-news/art-deco-gem-restored-to-former-glory-exterior-of-thirties-cinema-building-in-harrow-could-be-a132746.html

 

This site is totally off market .

The owner has asked that we please treat this sale with the strictest confidence.