General Woodworks under offer at 2M, but what's the story...?

Well, we've managed to hold on to General Woodworks on Stoke Newington High Street for 63 years so far, but it looks like we may have to say goodbye as the property has been listed as under offer after years of being on the market. Although, Michael and Jeffrey - the guys behind Stokey's biggest hardware store - do insist that all this speculation is a little on the premature side, as the site has been under offer in the past to no avail. 

The independent family business has been supplying hammers, wood, and all things D.I.Y to traders and residents of N16 for decades; but a combination of factors has led to the decision to sell the property - and it is distinctly just the property, not the business that is going under the hammer. "It's a family business and there's no new blood to pass it on to", explains Michael, who also told us that he felt ready for a break: "we're well-past retirement age, and I haven't been on holiday for years". 

It's not just retirement that has sparked the sale though: practical issues such as parking and vehicle access have hindered the development of the business, as red routes all along the High Street mean that traders and customers can't load materials onto a vehicle from the shop. As Paul, the owner of the Yucatan pub across the road says, "if you want to buy a hammer or some nails then General Woodworks is the place, but if I want a thousand bricks you have to carry them home on your back. The Council are making it impossible with the parking restrictions down here". 

The pair also blamed the ubiquity of D.I.Y big boys such as Wickes and B&Q for their decision to sell, plus a huge increase in cheap online traders along with the general economic climate which is making it so hard for independent businesses to stay afloat. 

The two million pound price tag has made a lot of people curious as to who is considering stumping it up. It certainly doesn't sound like it will be another little independent business (although we're still keeping out fingers crossed). So are we faced with yet another chain establishment in N16? Afterall, there was uproar at Nando's stepping into the ring on Church Street but as one stokenewingtonpeople member has pointed out, the venue is thriving. So is there room for another? 

Well possibly not: the property is being marketed as one for "investment and development" by Islington's Alwyne Estates. The details were taken off the company's website on Tuesday as the site was put under offer, but before this it was described as having the potential to be developed into nine two-bedroom apartments. There was plenty of concern expressed by those of us who live in Stoke Newington that an apartment block hanging out in the middle of the shopping parade would be a little weird, especially as there are plans to remove the one-way system and make the road into a proper high street. But then this is potentially a lesser-of-two-evils scenario: trendy property development or big-style chain. 

Local town planning consultant Mandip Singh specialises in property development and usage-change around London. We ran the plans by him and the verdict was hopeful, in a way: "The site is located within a District Centre, which essentially means that the type of development that would be pursued would always be retail led" he explains. "If the existing building was redeveloped or indeed extended/converted the ground floor would have to be retained as a commercial premises, particularly given that the site is smack bang in the middle of a retail frontage".

 So there is a good chance we may end up with a big company stepping up to the challenge. We don't know which one we'd prefer, but - as the boys at General Woodworks pointed out - this is all very premature and hopefully, for our sake, we won't need to find out for a good while yet. 

Photo courtesy of Sarflondondunc at Flickr