The property comprises a mixed-use building with a retail unit and social club on the ground floor. The retail unit is occupied by Paddy Power and the Belfry social club is operated by a private tenant. The upper floors form a part-built development site of 4 x 1 bed flats. Both commercial units and the residential element all have their own dedicated access. There may be scope to achieve an enhanced planning consent and increase the number of residentail units subject to obtaining the necessary planning consent.
Location
The property has a prominent location on the corner of Plumstead High Street and Gallosson Road in the London Borough of Greenwich. The property is on the south side of Plumstead High Street, which runs east west connecting West Heath in the east with Woolwich to the West. Winn's Common, which provides outdoor recreational space is 0.5 miles to the south.
The site is well served by public transport as Plumstead mainline station is 0.3 miles to the west, which provides a main line service into London Bridge in 30 minutes. Woolwich Arsenal is one stop to the west and from Autumn 2021 this will provide Crossrail services which will add up to an extra 12 trains an hour. Train times from Woolwich Arsenal to Bond Street will be 21 minutes and to London Heathrow will be 56 minutes.
Accommodation
Retail - 85.0 sq m (915 sq ft)
Social - 171.6 sq m (1,847 sq ft)
Flat 1 - 55.5 sq m (597 sq ft)
Flat 2 - 42.5 sq m (457 sq ft)
Flat 3 - 42.1 sq m (453 sq ft)
Flat 4 - 45.0 sq m (484 sq ft)
NB - The measurements for the commercial element have been scaled from floor plans and the sizes of the flats have been taken from the drawings on planning permission ref. 19/1934/F
Terms
Method of Sale - The site will be sold by way of informal tender
Price - Seeking offers in excess of £1,750,000
VAT - We understand the property is not elected for VAT
Specification
- Mixed use development opportunity in Plumstead, South East London
- The site extends to 0.08 acres
- The property benefits from planning permission 19/1934/F for the internal reconfiguration for the provision of 4 x 1 bedroom flats
- The site is located 0.3 miles from Plumstead mainline station and occupies a prominent corner position
- The passing rent is £91,800 per annum
- Part finished residential development of the upper floors
- Freehold
- Offers in excess of £1,750,000