Land for sale

Mixed use investment / development opportunity with planning granted with scope to enhance STP.

Income producing - reversionary opportunity -

Description

Mixed use investment / development opportunity for sale.
The existing property is a two storey corner building comprising open plan retail unit and yard at ground floor with two self-contained flats on the first floor accessed from the rear.

Planning has been granted for a new build scheme on the yard and further potential exists to extend the existing building STP

Location

The property is situated on Central Road which is an arterial route running through the centre of Worcester Park and benefits from good communication links by road, rail and bus services.

Neighbouring occupiers include; Sainsburys, Papa John’s, Star Barbers, Winkworth, Costcutter, Bronco’s, Coversure, Pizza Express, Hunters, Nat West, St Raphael Hospice, together with a good mix of other independent and local traders.

Nearest Station : Worcester Park 0.4miles

Existing & Proposed Accommodation

Ground Floor Shop - Open plan with rear WC. Approximate gia 162 sq m (1,750 sq ft)
First Floor Flat 1 - One Bedroom Flat, Approximate gia 41 sq m (450 sq ft)
First Floor Flat 2 - Two Bedroom Flat, Approximate gia 57 sq m (620 sq ft)

Proposed additional dwellings
Duplex 1: Two bedroom 87.2 sqm
Duplex 2: Two bedroom 84 sqm

Income & Tenancies

Ground floor retail let on a short terms lease (info to follow) with a passing rent of £24,000 pa - erv £35 - £40,000 pa
53a First floor flat let on an AST currently holding over with a passing rent of £10,200 pa - erv £15,000 pa
53b First floor flat let on an AST currently holding over with a passing rent of £11,400 pa - erv £17,400 pa

Planning

Planning granted for erection of two storey building providing a link to the front of the existing building to comprise 2 new residential units, retention of existing ground floor commercial unit, provision of car parking, cycle stores, refuse stores, external access stairs and landscaping.

Further information including plans can be found in our data room

Terms

Guide Price : £1,300,000

Data Room

Available on our website
Access code: Central1

Viewing

By appointment only contact sole agents
Christopher St James