Property Details
BACK Disposal

The Island Site


location icon The Island Site, Woolwich, SE18 6PE

Summary

  • LOCATION
    WOOLWICH
  • SECTOR
    MIXED USE & DEVELOPMENT
  • SIZE
    254,790 SQ FT
  • SIZE
    2.73 ACRES
  • TENURE
    FREEHOLD
  • VACANT POSSESSION
    6 MONTHS TO MAY 2022
  • PRICE
    £28.5 MILLION
  • CAPITAL VALUE
    £112 PER SQ FT
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More Information

  • LOCATION HIGHLIGHTS

    The Island Site offers a unique freehold 2.73 acre investment and development proposition in the heart of Woolwich town centre. The significant landholding is within one of south east London’s major regeneration areas, 2 minutes’ walk from Woolwich Arsenal Station and Powis Street, Woolwich’s primary retail destination. Woolwich’s new Crossrail Station is only 4 minutes’ walk from the Island Site, which will further enhance its excellent connectivity.

  • DESCRIPTION HIGHLIGHTS

    The Island Site comprises Woolwich Polytechnic’s former campus together with various highly attractive Victorian buildings. The site extends to 13 existing buildings of varying ages and styles, which total 254,790 sq ft GIA. Three buildings are listed with 5 buildings locally listed.

  • DEVELOPMENT HIGHLIGHTS

    The Island Site benefits from a significant residential led planning consent, for the development of 298 apartments, subject to an exceptionally low affordable housing requirement of 20%. The proposed scheme will deliver five residential blocks, which retain many of the existing highly attractive facades, in addition to creating a vibrant new retail and leisure district. The proposed commercial accommodation will deliver Woolwich’s first dedicated day and night time restaurant and leisure venue centred around fully pedestrianised new public realm.

  • ASSET MANAGEMENT HIGHLIGHTS

    The Island Site offers significant opportunity for the repositioning and repurposing of existing buildings, including potential to capitalise on the flexibility the new use classes order is envisaged to provide. Potential initiatives include exploring a site breakup, substantial refurbishment to enhance income, conversion of buildings to alternative uses, possible massing and/or part redevelopment of the Island Site and creation of a dedicated campus targeting sectors including education, the film industry and Woolwich’s vibrant Arts & Culture scene.

Maps

DISPOSAL

Contact Us

Dom Sidoli
Director

+44 (0) 7747 847 717

Simeon Cohen
Director

+44 (0) 7500 333 640

Alex Gotham
Associate

+44 (0) 7879 420 592

ADS RE Ltd (ADS RE) on its own behalf and on behalf of the vendors / lessors of the properties whose agent ADS RE is, gives notice that:1 (a) All particulars provided are given as a general outline only for the guidance of the intending purchaser, lessee or tenant, and do not constitute in whole or in part, an offer of contract for sale or lease; (b) Whilst all particulars of properties given including but not limited to descriptions, dimensions, references to condition and necessary permissions for use and occupation and maps are believed to be correct and are given in good faith, they are however given without responsibility. None of the statements contained in these particulars as to the property are to be relied upon as statements or representations of fact; (c) The vendor / lessor does not make or give, and neither ADS RE nor any of its members or any person in its employment has any authority to make or give any representation or warranty whatsoever in relation to any properties. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor / lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor / lessor and a purchaser or tenant. 2 Prospective purchasers / lessees or tenants should not rely on any particulars provided and are strongly advised to; (a) Satisfy themselves by inspection or otherwise as to the correctness of each statement contained in these particulars; (b) Inspect the property and the neighbouring area; ensure that any items expressed to be included are available and in working order; (c) Arrange a full measured, structural (and where appropriate environmental) survey of the property; and (d) Carry out all necessary searches and enquiries. October 2021