FOR SALE
LOT 58 - 132-136 Powis Street, Woolwich, London, SE18 6NL
Key Features
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EXISTING & PROPOSED DRAWINGS
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PROPOSED PLANS
AMMENDED PROPOSED PLANS
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PROPOSED SECTIONS
| PROPOSED_SECTION_A-PW 200 SC A | PROPOSED_SECTION_B-PW 200 SC B rev 1 |
| PROPOSED_SECTION_A-PW 200 SC A rev 1 | PROPOSED_SECTION_B-PW 200 SC B |
| PROPOSED_SECTION-PW 200 SC | |
EXISTING & PROPOSED ELEVATIONS
Acquisition Cost
| Purchase Price | £500,000 |
| Stamp Duty | £25,000 |
| Agent's Fee (1.5%+vat ) | £7,500 |
| Legal & Misc | £5,000 |
| Total Acquisition Cost | £537,500 |
VAT (Refundable)
| VAT Payable @ 20% of £500k | £100,000 |
| VAT Cash Contribution - 25% of £100k | £25,000 |
| Finance cost on VAT for 6 months for £75k @ 12% APR | £4,500 |
Cash Invested
| 40% Deposit at Purchase | £200,000 |
| Stamp Duty | £25,000 |
| Retained Interest for 12m @ £1.5m | £36,000 |
| 25% of £100k VAT due | £25,000 |
| Agent & Legal inc VAT | £15,000 |
| Professionals / B.R / Structural / QS / MS etc. | £20,000 |
| Mobilization Fund | £100,000 |
| Misc | £50,000 |
| Total | £471,000 |
Profit
| Profit (Estimated) | ||
| GDV (Sale Price) | £2,480,500 | |
| Interest on Purchase 12m | £36,000 | |
| Interest on VAT Loan for 6 mth | £4,500 | |
| Sales Agent + Legal (2%) | £17,500 | |
| Acquisition costs | £537,500 | |
| Development Costs | £871,000 | |
| Total Costs: | £1,466,500 | |
| Profit | £1,014,000 | |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £471,000 |
| Profit Earned | £1,014,000 |
| Profit for JV Partner | £507,000 |
| Total ROI | 215% |
| ROI for JV Partner | 107% |
Gross development Valuation / APPRAISAL
| Units Type (Flats) | Number of Units |
| One Bed (2 person) | 1 |
| Two Bed (3 person) | 2 |
| Studio 1Bed (1 Person) | 1 |
| Total Units | 4 |
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| Gross Development Value (Collective) | |||||
| Units | Level | Description | GIA m2 | NIA m2 | Value |
| Basement | No. 132-134 | 203.22 | 151.34 | £454,000 | |
| Ground | No. 132-134 | 139.75 | 139.75 | 419,000 | |
| Ground | No. 136 | 58.90 | 58.90 | 176,500 | |
| 1 | 1st | Studio 1bed 1P | 38.23 | 38.23 | £229,000 |
| 1 | 1st | Flat 1 - 2Bed 3p | 64.37 | 64.37 | £386,000 |
| 1st | Communal Area | 37.4 | |||
| 1 | 2nd | Flat 2 - 2Bed 3P | 65.39 | 65.39 | £392,500 |
| 1 | 2nd | Flat 3 - 1Bed 2P | 70.54 | 70.54 | £423,500 |
| 2nd | Communal Area |
4.0 | |||
| Total: |
Sale Resi @ £6,000/m2 Sale Comm @ £3,000/m2 |
681.8 | 588.52 | £2,480,500 | |
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Gross Rental Value (Collective)
| Units | Level | Description | sqm | Value |
| Basement | No. 132-134 | 151.34 | £12,000 | |
| Ground | No. 132-134 | 139.75 | £18,000 | |
| Ground | No. 136 | 58.90 | £6,000 | |
| 1 | 1st | Studio 1bed 1P | 38.23 | £18,000 |
| 1 | 1st | Flat 1 - 2Bed 3p | 64.37 | £21,600 |
| 1st | Communal Area | |||
| 1 | 2nd | Flat 2 - 2Bed 3P | 65.39 | £24,000 |
| 1 | 2nd | Flat 3 - 1Bed 2P | 70.54 | £21,600 |
| 2nd | Communal Area | |||
| Total: | @ 4.88% Yield | £121,200 | ||
DEVELOPMENT Costs (Estimates)
| Item | Description | Amount £ |
| Legals | £10,000 | |
| Professionals / Architect | 5% of Construction Cost | £33,500 |
| Conversion | 206 m2 @ £1,500 | £309,000 |
| Construction | 74 m2 @ £2,500 |
£185,000 |
| Commercial Renovation | 350 m2 @ £,500 |
£175,000 |
| Insurances | 0.5% of Construction costs | £5,000 |
| Finance Cost | 18% @ 1% per month | £120,000 |
| CIL | To be verified? | £0 |
| Contingency | 5% of Construction Cost | £33,500 |
| Total | £871,000 |
Planning Approval
PLANNING APPLICATION REFERENCES
| Reference | Proposal | Status | Decision Issued Date |
| 23/3788/NM | An application submitted under Section 96a of the Town & Country Planning Act 1990 for a non material amendment in connection with the planning permission dated 23/11/2020 (Reference: 20/0027/F) for [Change of use from retail (A1) to a Public House (A4) at ground floor and basement and 4 self-contained flats (C3) on the 1st-3rd floors together with construction of a second floor rear extension, replacement of the shopfront, installation of an extractor flue on the roof, installation of windows to the rear and side elevations, addition of an external staircase at the site, addition of an inset roof balcony, installation of 1 new rooflight, addition of two new entrances to basement at the side, and provision of associated waste and cycle storage and external amenity space. [RE-CONSULTATION: AMENDED DESCRIPTION AND DRAWINGS - PROPOSAL MERGED WITH APPLICATION 16/3672/F] to allow: The reduction in the size of one window at the rear facade and slight relocation of the bins at the front façade to facilitate the residential entrance to the upper floors which include a minor change to the façade. |
Refused | Wed 27 Dec 2023 |
| 23/3322/SD | Submission of details pursuant to Conditions 3 (Materials), 4 ( Delivery & Servicing Plan), 5 (Details of Proposed Balustrades), 6 (Cycle Parking), 7 (Refuse & Recycling) and 15 (Staff Cycle Parking) of planning permission 20/0027/F dated 23/11/2020. | Refused | Thu 07 Dec 2023 |
| 20/0027/F | Change of use from retail (A1) to a Public House (A4) at ground floor and basement and 4 self-contained flats (C3) on the 1st-3rd floors together with construction of a second floor rear extension, replacement of the shopfront, installation of an extractor flue on the roof, installation of windows to the rear and side elevations, addition of an external staircase at the site, addition of an inset roof balcony, installation of 1 new rooflight, addition of two new entrances to basement at the side, and provision of associated waste and cycle storage and external amenity space. [RE-CONSULTATION: AMENDED DESCRIPTION AND DRAWINGS - PROPOSAL MERGED WITH APPLICATION 16/3672/F] | Approved | Mon 23 Nov 2020 |
PLANNING CONDITIONS
| No. | Summary | Specialist Consultant | Fee | Status | ||||||||||||||||||||
| 1. | Permission expires on 23 Nov 2023 | CBC - Complete Building Control | TBA | Notice to be served | ||||||||||||||||||||
| 2. |
The development shall be carried out strictly in accordance with the application plans,
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| 3. | Prior to the commencement of the development hereby approved, full details including physical samples of all facing materials and finishes to be used on the development hereby approved shall be submitted to, and approved in writing by, the Local Planning Authority and the scheme shall thereafter be implemented in accordance with the approved drawings and maintained for the lifetime of the development. | |||||||||||||||||||||||
| 4. |
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| 5. | Prior to the first occupation of the development hereby approved, full details of the proposed balustrades to be used in the development shall be submitted to and approved in writing by the local planning authority. The development shall be fully implemented in accordance with the approved details prior to the first occupation of the development and shall be retained in such a fashion in perpetuity. |
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| 6. | All residential cycle parking facilities shall be provided as illustrated on approved drawing PW 200 GA 00 rev1 and made available for use prior to the occupation of the development hereby approved and maintained thereafter for the lifetime of the development. | |||||||||||||||||||||||
| 7. | All residential and commercial refuse and recycling facilities shall be provided as illustrated on approved drawing PW 200 GA 00 rev1 and made available for use prior to the occupation of the development hereby approved and maintained thereafter for the lifetime of the development. |
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| 8. | The boilers used in the development hereby approved shall have dry NOx emissions not exceeding 40 mg/kWh (0%). |
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| 9. | The internal potable water consumption for each of the approved dwellings shall be limited to 105 litres per person per day (l/p/d) based on the Government's national calculation method for water efficiency for the purpose of the Building Regulations. |
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| 10. | The hours of use for the Public House shall from 10 am to 11pm Sunday to Thursday and 10am to 12 midnight Friday and Saturday. |
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| 11. |
Prior to the commencement of the development hereby permitted an acoustic survey detailing the noise impacts from fixed plant & equipment associated with the development shall be submitted to and approved in writing by the local planning authority. The acoustic survey shall include the following:
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| 12. |
Prior to the commencement of the development hereby permitted a detailed scheme of noise insulation measures for all divisions (walls and/or floors) separating |
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| 13. |
assessment detailing the expected noise generated from amplified music/speech; |
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| 14. |
The flat roof of the external staircase hereby approved as well as the flat roof of the |
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DISCLAIMER
Valuations & Appraisals by Sleek are strictly estimates only and you should use them on that basis. The valuation Model analyses prices for equivalent properties sold or sold in the area. These properties may differ in ways that we do not or cannot consider. Valuations are subjective and based on market forces, which may change. Valuations must not be used for property sale, purchase, mortgage or related purposes. You should seek a professional valuation from a qualified surveyor before deciding whether to buy or sell a property. We shall not be liable for any losses you or anyone else suffer due to relying on the valuations. This includes not being liable for any loss of property, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss.