A distinguished brownfield web site in South London has been delivered to market by Colliers with a information worth of £12 million.
The 0.2-hectare freehold web site is positioned on Tooting High Street and offers choices for resort or residential growth.
The opportunity includes a number of derelict vacant buildings, together with the previous Tooting Constitutional Club, a storage yard and disused bowling inexperienced.
Unoccupied for 5 years, the positioning is being bought by London Hotel Group (LHG) with planning permission from the London Borough of Wandsworth for building of a 373-bed room resort.
The planning permission covers a growth which might whole 114,440 sq ft, extending from three to 6 storeys in top and together with 4 further storeys of basement lodging with an atrium lightwell.
There can be lapsed planning permission for a forty five-unit residential growth, which is why the positioning is being marketed on a twin foundation by the agent.
“The proposed excessive-high quality resort will set a precedent for the broader regeneration of Tooting High Street,” explains Colin Hall, head of London Hotels Agency at Colliers.
“It has been designed in a up to date type that’s sympathetic to its environment, and shall be constructed in pink and gray brickwork to replicate the character of the realm with graduated heights to offer a transition from neighbouring three-storey properties.”
William Agnew, affiliate director within the residential growth staff at Colliers, provides: “In the final three years Wandsworth has change into probably the most welcoming London Boroughs for co-residing developments, having granted consent on over 500 beds already.”
“The current planning consent for a 373-mattress resort scheme presents a robust precedent for a equally sized conversion of the consent into design-led co-residing lodging.”
The brownfield web site is simply 200m from Tooting Broadway underground station and 600m from Tooting Railway Station, whereas additionally being in shut proximity to Tooting Bec and Balham underground stations.
It can be properly-served by native buses and is positioned close by St George’s Hospital. In latest years, Tooting has been included within the listing of the world’s 10 Coolest Neighbourhoods compiled by the journey information Lonely Planet, which described it as an ‘uber-cool neighbourhood’ with top-of-the-line ‘curry corridors’ within the nation.
