A Mixed Use Investment Offered with Planning Permission to Redevelop the Building to Provide Additional Retail Floor Space
The property comprises three self-contained flats arranged as 1 x 3 bedroom and 2 x 1 bedroom flats situated above commercial premises within an end of terrace building arranged over ground and two upper floors.
Tenure
Freehold
Location
The property is situated in the South West London area of Mitcham close to local shops and amenities. The open spaces of Pollards Hill and Mitcham Common are within easy reach. Transport links are provided by Mitcham Eastfields railway station.
The three shops have a lapsed agreement with Sainsbury's Supermakets Limited for a 15 year FRI lease with fixed upward only 5 yearly reviews at a rent of £66,000 per annum.
Planning
The London Borough of Merton granted the following planning permission on 20th December 2013 (ref: 12/1937): "Demolition of the existing rear storage unit and erection of a single storey rear extension with basement to provide additional retail floor space to an enlarged retail unit (Use Class A1) including alterations to the access to the retained residential units at first storey level, the provision of new refuse storage area, installation of a new shop front incorporating a cash machine (ATM) and internal alterations to the layout".
Lot Type
Redevelopment
Viewing Details
Sold Prior
Addendum
Sold Prior
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.