Savills UK Offers Residential Development Opportunity in Northwest London

Savills has announced the market launch of Elm Tree House, a four-level property situated on Netherhall Gardens, NW3. At present, it consists of eight separate flats. The property has gone through multiple planning applications for upgrades, redesign, and expansion, as well as plans for a completely new residential development divided into three parts. Once all approvals are in place, the project is expected to include 17 apartments with a total saleable space of 17,833 square feet (1,661 square meters) and an estimated Gross Development value of around £27 million.

Elm Tree House is set in a much sought-after area, just a short walk from the conveniences of Hampstead Village and 300 meters away from Finchley Road Underground station, which provides convenient travel to the West End and the City.

Both the freehold and long leasehold rights are available for purchase, and the property will be sold without current tenants.

Darren Arnold, a director at Savills’ London land division, comments that Elm Tree House offers an exceptional opportunity for a premium housing project in the vicinity of Hampstead’s core. It has lain in disrepair since 2019 and is anticipated to be attractive to both property developers and those looking to buy their own home.

For more details visit Savills website here.