The Grays, London WC1 (Part 1)

This new launch caught my attention.  It is called The Grays, London, WC1.    It caught my attention because I have walked this street before and looking at it brought back fond memories.  Not going to be cheap, but still worth a look!

What is the Address Of This Place?
Looking through the brochure, I only know that the development is somewhere on Gray's Inn Road.  This snapshot from the marketing brochure gives a pretty good idea of its location.  It does look to be very close to Chancery Lane Tube Station.  However, this was not enough for me, so I went searching for more information.

Planning Permission Documents 
What I like about the UK Planning system is that it is not difficult to find the planning documents and these documents give you a ton of information that the marketing brochure doesn't always tell you.

So, to speed things up for the reader, note that this development is in the London Borough of Camden.

From the Camden Borough website, after doing some searches, I managed to nail down the location.

Planning Application Number - 2012/0081/P
Address: 24-28 Gray's Inn Road London WC1X 8HP

Background of Development 
The key question I had in my mind was whether this development was a refurbishment (i.e. you get an old building) or a new-build.  On first look, my guess would have been refurbishment.

I was wrong.  Planning documents show that the developer had proposed to demolish the existing 4-storey building and built a brand new 5-storey mixed use development comprising of basement and ground floor level commercial space, and five floors of residential apartments comprising a mix of 14 units.

To me, this was good, because I'd much rather buy a new building.

Current Building 
This is what the existing building looks like (to be demolished).  It is actually 3 four storey terrace buildings and they are all vacant.  The new building should look like the picture right at the start of this blog post, taken from the marketing brochure.

This picture looks towards the junction of Grays Inn and High Holborn.  The proposed development is the building (to be demolished) beyond the white building, just beyond that bus stop with a blue sign.  The proposed development is NOT 34-36 Grays Inn (you can see 34-36).

One entrance to the Chancery Lane Tube station is right at that entrance.  Therefore, this development is very near the Tube Station, literally 2-3 minutes walk.  (1 minute may be a slight stretch)

The location looks really good. 

Please go on to Part 2 of this post to continue reading on this development.

Any views on this development?  Please share them on our community forum!

Happy Investing!