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New development site – £225 million+
publication date: Sep 9, 2011
Knight Frank launches to market the site, in North London, which represents one of the last remaining prime central London residential development opportunities of any scale. Offers in excess of £225 million will be considered.
The site, currently owned by private family trust the Eyre Estate, has been occupied as a Barracks since 1804. The present occupiers, Royal Artillery’s Kings Troop, will vacate by early 2012 as part of a planned move to a new facility in Woolwich. Prior to becoming a Barracks the land formed part of a farmed estate.
The 5.5 acre (2.2 hectare) site is located in prime St John’s Wood which is characterised by low-rise, high-quality villa housing. Planning permission has been granted for 133 properties in total, 74 private residential units comprising approximately 310,000 sq ft of net saleable area with underground car parking, and 59 affordable units (49,000 sq ft). The accommodation will include a mix of houses and flats, with the largest semi-detached villa extending to close to 10,000 sq ft. The planning permission provides for the existing buildings to be demolished, apart from the Grade II listed Riding School which will be retained and converted into a gym and swimming pool for the use of the residents of the scheme.