Property Information
Address:
Belle Isle Site, London, Greater London
, N20 0DR
, Greater London
, United Kingdom
Price: Buy: POA
Size: SOA
Primary Category: Investment
All Categories:
Investment, Land,
Property Ref/Movehut: MH671429
Property Ref/Agent: 112508
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: May 9, 2024
Property description
For sale, long leasehold opportunity - significant business/ office led development opportunity.
The site comprises an area of hardstanding and raised grass area which is temporarily occupied as a storage compound. To the rear of the site is an existing auto transformer which consists of a fenced compound with a control building, two auto transformers and switch gear.
The existing UKPNS sub-station within its own compound supplies power to the general railway and adjacent signal room and requires 24 hour vehicle access to be maintained through the site from York Way at all times. Further details of these requirements can be found in the data room.
The developer will need to seek the necessary design approvals for any development from HS1 and Network Rail in accordance with the Protective Provisions Agreement (PPA) and LEFPA prior to seeking planning consent.
DFT own the freehold of the site and the entire site is leased to HS1 which expires in 2040 . The site is currently sub let as storage which expires in November 2022. DFT are proposing to extinguish HS1's long lease and grant a new 250 year lease to the successful purchaser, which will contain reservations and rights protecting all aspects of the operation and maintenance of the existing UKPNS substation to the rear.
Significant business/ office led development opportunity
Long leasehold interest (250 years)
Site area approximately 0.4 acres (0.16 hectares)
Business/Office led development opportunity of up to 15 storeys stpp
Offers invited via informal tender
Range of amenities and excellent transport links
Highly sought-after location next to Kings Cross Regeneration Area
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