Planning Granted: A Prime Development Opportunity on Tottenham High Road (N17)

David Stephen
May 11
3 min read

The property at 491a High Road, Tottenham, N17, represents a mixed-use investment opportunity. The asset is situated on a high-footfall section of the High Road. It consists of an existing ground-floor retail unit and has obtained planning permission for a residential extension.

Asset Summary

The property is offered at a purchase price of £695,000. It is a freehold asset that combines immediate commercial utility with clear development potential.

Location: High Road, Tottenham, London, N17.
Commercial Component: Ground-floor retail unit measuring 850 sq ft.
Residential Component: Planning granted for two self-contained 1-bedroom flats.
Price: £695,000.

Property Specification and Configuration

The current configuration of the building is focused on the commercial ground floor. The unit provides 850 sq ft of floor space suitable for various retail or professional services. The large window frontage provides visibility onto the High Road, supporting tenant operations and footfall engagement.

Planning permission (Reference: HGY/2024/1087) was granted in June 2024 for the erection of extensions on the first and second floors. These floors are designated for residential use. Each floor will accommodate one self-contained 1-bedroom apartment.

Residential Layout Breakdown:

First Floor Flat: Approximately 51 sq m (548 sq ft). The layout includes an open-plan kitchen and living area, one bedroom, and a bathroom.
Second Floor Flat: Approximately 49 sq m (527 sq ft). This unit follows a similar layout with an open-plan living space, bedroom, and bathroom.

Access to the residential units will be provided via a private entrance located on the High Street, ensuring a separation between the commercial and residential functions of the building.

Market Context: Tottenham N17

The N17 postcode is currently undergoing a period of sustained economic growth and infrastructure improvement. Data indicates that N17 remains one of the highest-yielding postcodes in North London for real estate investors.

Economic Indicators:

Average Rental Yields: Market data for N17 shows gross yields ranging between 5.7% and 6.5%.
Rental Demand: High demand for 1-bedroom units is driven by professional tenants and the proximity to central London.
Estimated Rental Income: Once developed, the 1-bedroom flats are projected to achieve rents between £1,700 and £2,000 per calendar month (PCM) each.

The total potential residential rental income ranges from £40,800 to £48,000 per annum. This is in addition to the income generated by the ground-floor retail unit.

Regeneration and Infrastructure

Investment in Tottenham has exceeded £2 billion over the past decade. This capital has been directed toward several large-scale projects that impact local property values and rental demand.

Tottenham Hotspur Stadium: The presence of the stadium and its surrounding entertainment precinct provides a consistent draw for visitors and supports local retail businesses.
High Road West: A planned development of over 2,600 new homes and commercial spaces adjacent to the stadium.
Broadwater Farm Estate: A regeneration project delivering 294 new homes, with the first phase scheduled for completion in 2026.

The property's location provides efficient transport links to central London and beyond:

Bruce Grove Overground Station: 0.1 miles (approximately a 2-minute walk).
Tottenham Hale Station: 0.6 miles (offering Victoria Line and Greater Anglia services).
Seven Sisters Station: 0.7 miles (offering Victoria Line and Overground services).

Investment Strategy and Value-Add

The asset aligns with a "buy and develop" strategy. The presence of existing planning permission mitigates the regulatory risk typically associated with development projects. The exit strategy for this asset can take several forms:

Long-Term Hold: Developing the residential units and retaining the building for a dual-income stream (commercial and residential).
Partial Sale: Selling the newly created residential units on long leases while retaining the commercial freehold.
Full Sale: Divesting the entire asset once the development phase is complete and the units are occupied.

The realtypackaging.co.uk team identifies assets like 491a High Road based on their potential for capital growth and yield optimization.

Conclusion

The property at 491a High Road is a functional development opportunity in a growth area of London. With planning permission already granted for two 1-bedroom flats and a prime retail position, the asset offers a structured path toward value creation.

For further details regarding the property at 491a High Road or to discuss other commercial investment projects, contact Realty Packaging. Additional information on our due diligence processes and portfolio growth guidance is available on our about page.

This document is for information purposes only. Real estate investments carry risks, and capital is at risk. Past performance is not an indicator of future results.