Newsletter | November 2015 - drawingandplanning.com
Having trouble reading this? View it in your browser.
House to Flats Conversion - Hendon NW4
Here at Drawing and Planning we like to keep our clients and followers informed about interesting areas of planning. This month we have chosen a property that is not your everyday house to flats conversion. The Subject development is located in NW4 / Hendon / London, this location has become in recent years an extension of a thriving Golders Green NW11 area. The property is a corner plot C3 single family home located on Finchley Lane with an ancillary Garage and Studio (two storey outbuilding). The property has been Granted Planning Consent (15/04840/FUL) for "Part single, part two storey side and rear extension, roof extension involving side and rear dormers, creation of 4no. self-contained flats with associated parking and refuse storage, 2no. rooflights to side elevation".
This property has been selected by our team as it has approval for a room that has 'NO USAGE'. Planning Approval was granted for 1 x 3 Bedroom, 2 x 2 Bedrooms and 1 x 1 bedrooms with associated 4 no. parking spaces and the Mysterious room that has no apparent usage. In order to understand the usage accurately we looked at the original approval for the outbuilding, the application for the outbuilding was originally refused by Barnet council and overturned by the Inspectorate. The Appeal Decision states clearly that "The extension hereby permitted shall not be occupied at any time other than for purposes ANCILLARY to the residential use of the dwelling". When we placed the current usage against the latest approved layout (Rev. C) the space was called "EXISTING ANCILLARY SPACE".
In Summary, the developer has gained an extra room with no usage on top of an excellent planning consent for 4 large units that are located in an area where they is a mighty demand for reasonably sized units. We have been told that this development is FOR SALE, so if you fancy becoming the owner of a well located NW4 House Conversion please email firstname.lastname@example.org or complete the following form and one of our partners will call you back.
Bridging Finance - 0.85% per month (1% entry, 0% exit)
Once again here at Drawing and Planning we like to keep our clients updated with the best development rates we know of in the market.
This month one of our partners released the following product: Bridging Finance - 0.85% per month (1% entry, 0% exit) There are terms that are required to be met in order to be an acceptable Borrower, In order for them please note:
1. Loan needs to be no less than £200,000 and no more than £10,000,000
2. To achieve this rate the loan must be a first charge, the rate will rise to 1% per month if the loan is second charge.
3. The Borrower must have at least 30% equity in the development at any time.
4. The Borrower must have a good credit history and proof of ability to make repayments.
Should you suit the criteria above and like to apply for this rate please complete the following form.
25-27 The Burroughs, Hendon, London, NW4 4AR
P: 020 8202 3665
Copyright © 2015 DAP Group. All rights reserved.