Property photos
Freehold
Offers in region of
£1,595,000
(£753.78/sq. ft)
Property for sale
King's Cross Road, Kings Cross, London WC1X1 bath
1 reception
2,116 sq. ft
Local area information
Property location
Nearby amenities
- The Gower School 0.2 miles
- Winton Primary School 0.2 miles
- London Kings Cross 0.3 miles
- King's Cross St. Pancras 0.3 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guides for Holborn, Clerkenwell and Islington to find out more about the local area.
Features and description
- Freehold
A unique development opportunity in the vibrant Kings Cross area with planning permission for a three/four bedroom apartment.
The property is a semi-commercial unit with a restaurant on the ground floor and basement and living accommodation on two floors above. Planning permission was granted by London Borough of Camden in November 2023 to develop the residential floors into a separate dwelling with separate entrance and for an additional mansard roof to be erected on top, converting this into a three storey apartment with 3/4 bedrooms.
For an investor, the development will produce a rental yield from the commercial unit and from the apartment above. The apartment could also be rented on an HMO basis for which 6 rooms would be available, thereby increasing the yield. Alternatively, the title can be split at the Land Registry and the new apartment sold on a long lease. Similar developments in neighbouring properties are valued at £2,000,000.
The property is currently tenanted so purchasers will need to show the intention to develop and the availability of funds to do so to ensure vacant possession. Current rental yield is £24,000 pa but the landlord has commenced a review of the rent to increase it to £70,000 pa in line with similar properties in the area.
The property is conveniently located for Kings Cross Station and all local amenities. King Cross is a thriving area, increasingly popular and with a bright future.
The seller will make available all architectural and planning drawings to the purchaser.
This represents an attractive development opportunity at a time when opportunities in this area are increasingly rare due to heavy development in recent years.
Front
Lower Ground Floor Commercial Kitchen And Storage
Ground Floor Restaurant.
Living Quarters Second And Third Floor.
The property is a semi-commercial unit with a restaurant on the ground floor and basement and living accommodation on two floors above. Planning permission was granted by London Borough of Camden in November 2023 to develop the residential floors into a separate dwelling with separate entrance and for an additional mansard roof to be erected on top, converting this into a three storey apartment with 3/4 bedrooms.
For an investor, the development will produce a rental yield from the commercial unit and from the apartment above. The apartment could also be rented on an HMO basis for which 6 rooms would be available, thereby increasing the yield. Alternatively, the title can be split at the Land Registry and the new apartment sold on a long lease. Similar developments in neighbouring properties are valued at £2,000,000.
The property is currently tenanted so purchasers will need to show the intention to develop and the availability of funds to do so to ensure vacant possession. Current rental yield is £24,000 pa but the landlord has commenced a review of the rent to increase it to £70,000 pa in line with similar properties in the area.
The property is conveniently located for Kings Cross Station and all local amenities. King Cross is a thriving area, increasingly popular and with a bright future.
The seller will make available all architectural and planning drawings to the purchaser.
This represents an attractive development opportunity at a time when opportunities in this area are increasingly rare due to heavy development in recent years.
Front
Lower Ground Floor Commercial Kitchen And Storage
Ground Floor Restaurant.
Living Quarters Second And Third Floor.
There are some planning applications within 0.5 miles of this home
Assess how they might enhance or detract from this home’s value.
More information
Unlock more data
Listed by
Open House Nationwide
View agent properties.png){kind=logo}
Property descriptions and related information displayed on this page are marketing materials provided by - Open House Nationwide. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Open House Nationwide for full details and further information.