Residential development opportunity, 34 Stockwell Green, London, SW9 9HZ

The existing property comprises a 3-storey house to the front of the site, with a substantial light industrial building to the rear. The footplate of the site measures approximately 2,200 sqft. The GIA of the existing buildings measures approximately 3,550 sqft. The site is currently occupied by a dry cleaning business.
The site is occupied by GKS Curtains Ltd, who have been owner-occupiers for over 25 years. They require a minimum of six months to vacate the property after exchange and will offer two months notice in writing over a maximum period of twelve months. Vacant Possession is then available upon completion.
The immediate area is occupied almost exclusively by residential properties. The southern side of the street, on which the site sits, consists entirely of Grade II-listed 19thCentury cottages and houses. As such, the front façade of this property is also Grade II-listed.
The area has undergone huge regeneration over the past few years. This is due to a number of large residential schemes being delivered and enviable transport links, which has turned the area into a highly sought-after postcode within Lambeth.
The property has been identified as having significant redevelopment potential due to the existing buildings towards the rear of the site, with potential for the development of apartments or mews houses, subject to obtaining the appropriate planning consents.

Location

The property is located within Stockwell on a highly desirable residential street. Stockwell offers a range of shops and leisure facilities, as well as being in close proximity to the amenities of Brixton and Clapham. There are numerous bus links from Stockwell Road and the site is only 600 m from Stockwell Underground station.

Terms

The property is to be sold freehold.

VAT
The property is elect for VAT although we anticipate that the transaction will be treated as a TOGC (Transfer of a Going Concern).

Guide Price
Unconditional offers are invited in excess of £1,000,000 for the freehold interest.

Local Authority
The property is located in the London Borough of Lambeth.

Specification

• An existing dry cleaners located on a highly desirable residential street, with substantial buildings to the rear, currently used as a light industrial (B1) with residential (C3) above.
• Freehold site with significant residential development potential, subject to obtaining the necessary consents
• Located just off the Stockwell Road, 0.4 miles from Stockwell Underground Station (Victoria and Northern lines)
• The property is located within the Stockwell Green conservation area.
• Offers invited in excess of £1,000,000