Freehold income producing investment opportunity with planning granted to create additional dwellings above.
Existing ground floor commercial unit with 3 bedroom flat above.
Location
The property is situated within a mixed use parade on Coombe Lane at its junction with Durham Road.
A wide range of bars, shops and restaurants are nearby both independant and national retailers, Waitrose, Sainsburys, Co - Op, Starbucks, Greggs, Anytime Fitness and more.
Raynes Park Station is the closest being just 0.2 miles away (South Western Rail Services).
The A3 is also just 0.5 miles away offering quick access further in or out of London by road.
Accommodation
Commercial Unit.
3 Bedroom Flat.
Terms
Planning - Merton council granted planning ref: 24/P1917 for ....
Conversion of existing two storey building into a four storey building involving the erection of an upward extension of two additional storeys to create four self contained flats and associated works
S106: This is a car free development - owners / occupiers of the residential cannot apply to the local authority for parking permits.
Tenancy - The flat is let on an AST until April 2025 at a passing rent of £27,600 p/a
For those considering an offer to include the commercial unit this has been let on a 10 year lease from April 2024 (5 yr reviews) at a passing rent of £40,000 pa
Terms - Guide Price £1,200,000 For the entire Freehold - £750,000 for the uppers only
CIL: £76,542
Be advised for those looking to buy the first floor only the small rear extension is to be handed back to the seller in shell and core condition to then be included within the commercial demise.
Specification
- Investment / Development
- Shop & Uppers (sold as one or separately)
- Planning granted
- Strong Covenant Charity Shop
- Existing 3 Bedroom Flat
- Sought After Location
- Airspace planning consent
- Passing Rent £67,600 pa