Charter House, 450 High Road, Ilford IG1 1UF East London Residential Investment Opportunity For Sale - Kingsbury
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ENTER Charter House, 450 High Road, Ilford IG1 1UF East London Residential Investment Opportunity For Sale
www.kingsbury-consultants.co.uk Charter House, 450 High Road, Ilford IG1 1UF
HOME SUMMARY DESCRIPTION AERIAL ACCOMMODATION MARKET TERMS
SUMMARY
• Newly completed development comprising 106
residential units and commercial space of 2,799ft2 NIA
• Residential element comprises 60 x 1 bedroom, 21 x
2 bedroom and 25 x 3 bedroom apartments totalling
71,224ft2 NIA all for open market sale / rent with no
affordable housing
• Residential units in process of being let on individual
AST’s with a total projected ERV of £1,750,000p.a.
• Popular East London location close to Ilford town
centre and approximately 600m from Seven Kings
Station which will operate Crossrail services
• Offers are invited for the freehold interest, subject to
the landlord topping up the passing rent to the ERV for
a 6 month period from completion
www.kingsbury-consultants.co.uk Charter House, 450 High Road, Ilford IG1 1UF
HOME SUMMARY DESCRIPTION AERIAL ACCOMMODATION MARKET TERMS
DESCRIPTION
The subject property comprises a newly built, mixed-use development consisting of a ground
floor commercial unit of 2,799ft2 NIA and 106 residential apartments totalling 71,224ft2 NIA.
Formerly an office premises known as Charter House, the building as been extended,
converted and refurbished to provide a modern mixed-use scheme of apartments and new
commercial space. All of the space proposed is for open market sale / rent with no affordable
housing provision required.
The development occupies a site area of approximately 0.46 acres and will benefit from 49
parking spaces (25 at lower ground floor and 24 at upper ground level).
LOCATION
The development occupies a prominent position on High Road between Ilford and Seven
Kings, within the London Borough of Redbridge. The immediate area comprises a mix of
commercial and residential uses, and is currently undergoing extensive regeneration.
Ilford town centre is located approximately 900m to the west of the site, offering numerous
shops, restaurants and amenities as well as Ilford Exchange Shopping Centre.
Seven Kings Station is located circa 600m to east of the property with Ilford Station located
circa 900m to the west. Both currently operate TFL Rail services and will operate Crossrail /
Elizabeth Line services in due course. Crossrail journey times include:
Ilford – Canary Wharf: 17 minutes Ilford – Bond Street: 24 minutes
www.kingsbury-consultants.co.uk Charter House, 450 High Road, Ilford IG1 1UF
HOME SUMMARY DESCRIPTION AERIAL ACCOMMODATION MARKET TERMS
O2 ARENA CANARY WHARF QUEEN ELIZABETH
OLYMPIC PARK
RIVER THAMES
BARKING STATION
ILFORD EXCHANGE
NORTH CIRCULAR
CINEWORLD CINEMA
ILFORD
CROSSRAIL
POLICE STATION
SOUTH PARK
ILFORD SPORTS CENTRE CHARTER HOUSE
SEVEN KINGS
CROSSRAIL
www.kingsbury-consultants.co.uk Charter House, 450 High Road, Ilford IG1 1UF
HOME SUMMARY DESCRIPTION AERIAL ACCOMMODATION MARKET TERMS
ACCOMMODATION
The property has been developed in accordance with 3 separate planning permissions granted
in 2015, 2017 and 2018 respectively (application references: 2192/15, 269/17 & 4955/18) which
together permitted the conversion and extension of the former office building (including the
construction of 2 additional floors) to create 106 residential units and ground floor office
accommodation.
The development extends to 10-storeys and consists of 60 x 1 bedroom, 21 x 2 bedroom and 25
x 3 bedroom self-contained apartments totalling 71,224ft2 NIA, as well as a commercial unit
extending to 2,799ft2 NIA at ground floor.
There is a rooftop garden at 8th floor level for communal use and 3 lifts service the development.
SPECIFICATION
The scheme has been completed to a high specification; all windows from the former office
Typical Kitchen Roof Terrace
building have been replaced with new double glazed windows, and all apartments (bar one on
each floor) will benefit from an external balcony. A non-combustible cassette cladding system
has been used. ACCOMMODATION SCHEDULE - RESIDENTIAL
Finished specifications for the residential units include:
Floor 1B2P 2B3P 2B4P 3B4P 3B5P 3B6P Total
• Handleless white gloss kitchen cabinets First 8 2 1 1 2 - 14
• NEFF appliances including fridge freezer, washing machine, oven and dishwasher Second 8 2 1 1 2 - 14
• Porcelain wall and floor tiles in each bathroom Third 8 2 1 1 2 - 14
Fourth 8 2 1 1 2 - 14
• Polished chrome electrical fittings
Fifth 8 2 1 1 2 - 14
• Matt white painted wall finish Sixth 8 2 1 1 2 - 14
• Secure cycle and bin storage on ground floor Seventh 8 2 1 1 2 - 14
Eighth 2 - - - 1 1 4
A detailed finished specification list is available within our dataroom.
Ninth 2 - - - 1 1 4
The commercial space is completed to a shell and core specification with glazing in place and
Total 60 14 7 7 16 2 106
capped off services, ready for tenant fit-out.
www.kingsbury-consultants.co.uk Charter House, 450 High Road, Ilford IG1 1UF
HOME SUMMARY DESCRIPTION AERIAL ACCOMMODATION MARKET TERMS
TENANCIES
Given the popular East London location and the development’s close proximity to Seven King’s
Crossrail Station, there has been high levels of interest for both the commercial space and
residential units, with the scheme expected to be fully let and occupied by Q4 2020.
The residential units are let on standard 12-month AST’s, the earliest of which being from
March 2020, with the commercial unit currently under offer at £45,000p.a. on a 15-year lease.
The residential rents are exclusive of all out goings, save for WiFi which is provided by the
landlord, along with an on-site concierge.
LOCAL COMPARABLES - RESIDENTIAL
Property Description £ PCM Horizon Building Pioneer Point
Horizon Building, IG1 1 Bedroom Flat £1,299
Raphael House, IG1 1 Bedroom Flat £1,200
Swale House, IG1 2 Bedroom Flat £1,350
Pioneer Point, IG1 2 Bedroom Flat £1,490
Gilford House, IG1 3 Bedroom Flat £1,500
Rapheal House Gildford House
www.kingsbury-consultants.co.uk Charter House, 450 High Road, Ilford IG1 1UF
HOME SUMMARY DESCRIPTION AERIAL ACCOMMODATION MARKET TERMS
TENURE
The property will be sold freehold.
VAT
The property is not elected for VAT.
TERMS
Offers are invited for the freehold interest, subject to the landlord topping up the passing
rent to the ERV for a 6 month period from completion.
ADDITIONAL INFORMATION
Further information including floor plans and specification are available in the dataroom
using access code ‘Charterhouse’.
CONTACT
To discuss any aspect of the property of disposal process, please contact the sole
selling agents:
Jordan Oldfield
020 7183 2529
jordan.oldfield@kingsbury-consultants.co.uk
Ross Kemp
020 7183 2529
ross.kemp@kingsbury-consultants.co.uk
Kingsbury
1st Floor, 81 Alie Street, London E1 8NH
Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or
lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury
Investment & Development Consultants Ltd registered in England No: 06869268.
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