Cross Lane, Hornsey
A neglected site on the banks of the River Colne was an ideal spot for redevelopment. Plans were submitted for the restoration of an existing Grade 2 listed Mill into a 3-bed house together with 19 new build homes. Site with planning permission was sold to Chelmer Housing Partnership. Demolition of two existing buildings and the erection of a five-storey and a six- storey block will provide 50 residential apartments (1,2 and 3 bedrooms) and 187 sqmb of commercial space.
Site with planning permission sold to The Guinness Partnership Limited.
| Purchase cost: | £5,410,000 |
| Planning and legal costs: | £384,000 |
| Selling price: | £6,075,000 |
| Commercial returned shell and core – value: | £520,000 |
| PROFIT | £508,000 |
