Stoke Newington Church Street, London

An exceptional and rarely available freehold investment and development opportunity in the heart of Stoke Newington, ideally positioned amongst the area's vibrant shops, cafés, restaurants and local amenities.

Set within a secure gated site, this substantial mixed-use development currently comprises 17 residential apartments arranged across four buildings, including 10 one-bedroom apartments, 2 two-bedroom apartments, 4 three-bedroom apartments and 1 four-bedroom apartment. All units are presently let on Assured Shorthold Tenancies (APTs), generating a strong annual income of approximately £490,000 with 99% occupancy.

The site further benefits from three vacant development plots offering considerable future potential, subject to the necessary planning consents. Initial designer recommendations suggest the following possibilities:

• Plot 1 (rear site): potential for 4–5 mews houses• Plot 2 (side site): potential for 5–6 mews houses• Plot 3 (front site): potential for 9 apartments and 2 commercial units

In addition, the development includes an office currently let to a nursery operator, along with a commercial block occupied under a commercial lease, both presenting further long-term asset management and redevelopment opportunities.

Combining immediate rental income with significant future development potential, this is a rare opportunity to acquire a landmark Stoke Newington site with the scope to create one of the area's newest and most desirable secure gated developments.

Spencer James Residential is an independent estate agency established in 2002 specialising in all aspects of residential lettings, sales and property management.

We are serious about the pivotal role we play between our landlords and tenants; buyers and sellers. Our clients are assured in the knowledge that we work under an approved code of practice, due to our memberships with recognised industry bodies including: the Association of Residential Lettings Agents (ARLA); the National Association of Estate Agents (NAEA); and the Property Ombudsman (Sales and Lettings).