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For Sale£2,750,000.00

St. Marys Rectory

Land, Residential, Commercial Land , 0.52 Acre
Property type: Land, Residential, Commercial Land
Tenure: Development Opportunity, For Sale Freehold
Size: 0.52 Acre
Price: £2,750,000.00
Location: SOLD St. Marys Rectory, Neasden Lane, London, NW10 2TS
The property comprises a two storey 1950’s built Vicarage and grounds, and a single-storey Stonemasons building and yard. Access to the Vicarage is off Neasden Lane and the Stonemasons off High Road (A407). The Vicarage is screened by a two metre high brick wall and planting along the curved street frontage.

The site is located in the London Borough of Brent. It is not within a Conservation Area and the buildings on site are not listed. The site is adjacent to Church End Conservation Area.

Planning permission (Ref:14/4254) was granted on 16th October 2015 for:

Demolition of existing Vicarage and yard, and erection of a part 5, part 6-storey building comprising a ground floor commercial unit (Use Class B1) (50sqm) and 47 residential flats (19 x 1 bed, 16 x 2 bed, 11 x 3 bed and 1 x 4 bed) with associated car, cycle and motorbikes spaces, landscaping, new metal railing fence and amenity space.

The application is subject to a Section 106 Agreement, with financial contributions totalling £14,000 and requires that the B1 Commercial unit is let at no more than £5/ sq ft to be index linked from March 2015. The development is subject to an estimated CIL Liability of £911,313.92, of which £773,623.42 is Brent CIL and £137,690.50 is Mayoral CIL. It should be noted that the developer may be able to claim social housing relief for any eligible affordable housing units within the development, which could significantly reduce the CIL liability stated above.
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