Summary - 7-8, WAKLEY STREET EC1V 7LT
1 bed 1 bath Office
Vacant-possession development with four granted consents for 24 flats and ground-floor E unit.
Freehold central London site in established ‘tech belt’ location
A rare freehold development opportunity in Islington’s tech belt, offered with vacant possession and a suite of four permitted development consents to convert the three interconnected buildings into 24 residential units and one ground-floor E-Class commercial unit. The combined asset extends to approximately 22,364 sq ft (GIA) / 18,281 sq ft (NIA) across lower ground, ground and upper floors and sits 0.2 miles from Angel and 0.7 miles from Old Street stations.
Consents have been granted across the site (Class MA and Class AB) for change of use and the addition of one rooftop storey, delivering a consented scheme of 20,691 sq ft (NSA). The site’s central location, excellent transport links, fast broadband and proximity to established schools and amenities support a residential-led conversion or a retained mixed-use holding strategy.
Notable drawbacks and practical considerations are clear: the area records a high crime score and higher deprivation, there is no private garden or significant external amenity, and the internal condition and exact floor-to-ceiling heights are unverified from external inspection. Buyers should allow for conversion and compliance costs, potential party-wall and build-stage requirements, and pre-construction surveys including structural, services and asbestos reports.
This lot will suit a developer or investor who can mobilise on the existing consents or repurpose the consented scheme. An early site inspection and full data-room review are recommended to confirm layouts, costs and residual value before exchange.
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