Bounds Green Land Disposal: Local Authorities Move Forward with Development Plans
The London Football Club (LFC) has taken the lead in the disposal process for a small parcel of land in Bounds Green, following an agreement with the local council. The site, which has limited development potential, will be jointly marketed with the London Borough of Haringey (LBH), aiming to attract suitable developers for potential residential or commercial use.
Details of the Disposal Agreement
As the principal freeholder, LFC will manage the disposal with support from property solicitors and estate professionals at Sanderson Weatherall. LBH’s interests during the sale will be overseen by consultants Carter Jonas and its appointed legal advisors. Any costs incurred during the process will be split between LFC and LBH based on their respective ownership shares of 75% and 25%.
Marketing Strategy and Limitations
Sanderson Weatherall has outlined marketing strategies for the property, indicating that the small size of the site limits its development options. The most likely prospects include a small residential development of up to ten units or potential commercial use, while there is little demand for other applications like office space. Furthermore, the site is unsuitable for industrial development due to its size.
Any future developer will face additional challenges, particularly the requirement to either fully relocate or temporarily house existing tenants prior to commencing any redevelopment. To enhance the attractiveness of the site, LFC has decided together with LBH to refrain from imposing overage payments and will limit any clawback provisions to a five-year timeframe.
Recommended Disposal Options
Four strategies for the disposal of the property were evaluated:
- Marketing LFC’s share of the property solely on the open market.
- Offering the entire site for sale on an unconditional basis, maintaining the existing first-floor residential tenant.
- Utilising a conditional sale approach for the entire site, also with the tenant in place.
- Auctioning the entire property jointly with LBH.
After thorough consideration, the agreed approach is to market the entire site for unconditional sale. This decision serves to ensure that both council and freeholder meet legal obligations regarding asset disposal under the Local Government Act of 1972. Should this method not yield results, the auction option has been proposed as a backup plan.
Planning Policy Context
Current planning guidelines necessitate that residential developments on public land featuring more than ten units include no less than 50% affordable housing. As part of a broader initiative, authorities aim to leverage public land for the benefit of diverse local communities, particularly essential workers in London. Local planning policies echo this requirement, necessitating affordable housing contributions for developments creating ten or more units in Haringey.
In 2017, Bounds Green already underwent a speculative planning application, proposing nine residential units—an approach that bypassed the 50% affordable housing rule. Future assessments will consider mayoral and local policy updates to ensure alignment with the pressing housing needs of the capital.
Looking Ahead
Subject to necessary approvals, marketing efforts for the Bounds Green site are anticipated to commence in September 2025, with completion expected in 2026, contingent upon securing an unconditional offer without planning conditions.
Source: official statements, news agencies, and public reports.
https://www.london.gov.uk/dmfd276-part-1-bounds-green-disposal
