Strettons and Waltham Forest Council Agree Sale of Prominent Walthamstow Development Site
Waltham Forest Council completes purchase of Central House and East London Office Centre.
Waltham Forest Council has purchased Central House, 189-203 Hoe Street, and 80-86 St Mary’s Road, a prominent development site in Walthamstow, E17.
Located on the corner of Hoe Street and St Mary’s Road opposite Walthamstow Central Underground Station, the site comprises a pair of interconnecting office buildings and a gated car park. In March 2019, planning permission was granted for an 11 storey 90 bedroom hotel with a ground floor restaurant, a five storey office building and a commercial unit at the site.
The LBWF Cabinet approved business case sets out the opportunity of a scheme for the site’s redevelopment suggesting a potential scheme of at least 60 homes (50% affordable housing target), with a re-provision of office and/or workspace.
As part of the sale agreement, Strettons has been retained as managing agents on both Central House and the adjoining East London Office Centre.
Central House was developed by Strettons in 1991 prior to the company opening a new larger office in Leytonstone in August 2019 as it required increased space due to the continued growth of the business.
This is the second significant deal Strettons has reached with Waltham Forest Council that has resulted in continued investment in the borough. The firm also advised on the sale of The Tramworks, a hub of creative businesses, studio space and restaurants in Walthamstow to the Council for £7.75 million. Strettons was also retained as managing agents at The Tramworks.
Strettons Commercial Agency Director Chris Collins said: “We are pleased to have come to this agreement with Waltham Forest Council and we look forward to working closely with them to develop this prominent site. Given its location opposite the tube station, the site has the potential for a range of uses, all of which would bring significant benefits to Walthamstow and the Borough.”
Commenting on the purchase, Stewart Murray, Strategic Director of Economic Growth, at Waltham Forest Council said: “We are delighted to have secured the Central House site and are developing our medium and long term plans for its future use. Our Public Service Strategy underlines the need to keep developing our borough so that every one of our residents can easily access what they need to live a fulfilling and healthy life within their local area. This site will deliver the social, cultural and community infrastructure needed to support growth and significantly, create jobs for our local residents, which is key to our economic recovery of the borough post-COVID."