Knight Frank has begun to market the St John's Wood Barracks site in north London with a starting price of over £225 mln (EUR 253 mln). The 2.2-hectare residential development site represents one of the last remaining prime central London development opportunities of any scale.
Knight Frank has begun to market the St John's Wood Barracks site in north London with a starting price of over £225 mln (EUR 253 mln). The 2.2-hectare residential development site represents one of the last remaining prime central London development opportunities of any scale.
The site, currently owned by private family trust the Eyre Estate, has been occupied as a barracks since 1804. The present occupiers, Royal Artillery's Kings Troop, will vacate by early 2012 as part of a planned move to a new facility in Woolwich.
Planning permission has been granted for 133 properties in total: 74 private residential units comprising 29,000 m2 of net saleable area with underground car parking, and 59 affordable units (4,550 m2).
The accommodation will include a mix of houses and flats, with the largest semi-detached villa extending to close to 9,300 m2. The planning permission provides for the existing buildings to be demolished, apart from the Grade II listed Riding School which will be retained and converted into a gym and swimming pool for the use of the residents of the scheme.
'The release of St John's Wood Barracks has been much awaited as the market recognises this site as one of the most important prime development opportunities to have been made available for years,' said Ian Marris, head of Residential Development at Knight Frank. 'The planning permission has been carefully considered to ensure the scheme can be implemented with only minor amendments.'
