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.

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.