Overview

Freehold investment / development opportunity for sale. Comprises a mix of industrial units, office space and hard standing area. 0.5 miles to Tooting Rail Station. Sole Agents

• Read More

  Description
  Investment / development opportunity
  
  The property is on a single title with 2 separate detached buildings comprising Car repair / MOT station let on a long lease which expires in 2027 and office space let on short term agreements with 2 months notice required for vacant possession.
  Title Nos: SY159723
  Plot size: 0.121 acres
  Use Class: E Class
  Listed Building: No
  Flood Zone: No
  Local Authority: Merton

  Location
  The property occupies a prominent corner position along the A217 London Road at its junction with Dennis Reeves Close on the edge of Mitcham Town Centre with quick access to neighbouring Streatham, Tooting & Colliers Wood
  
  Nearest Stations:
  Tooting British Rail Station - 0.5 miles (Thameslink Services)
  Colliers Wood Underground Station - 1 mile (Northern Line Services)

  Tenancies / Income
  MOT Station: 20 year lease expires Nov 2027 - Passing Rent £36,000 pa
  Occupying the majority of the ground floor space in the front office building, yard space and all units industrial units to the rear
  
  Private tenants: Short term license agreements with 2 months notice required for vacant possession - Passing rent £24,000 pa let separately to two private individuals
  
  Total Passing Rent: £60,000 pa

  Planning
  Subject to the relevant consents it is felt the site would lend itself to a mixed use or residential development
  
  Scope also exists for extension / refurbishment works to increase the rental income

  Terms
  Guide Price £1,000,000 Freehold
  
  Please be advised that subject to planning offers are not being considered

  Viewing
  Viewings are strictly by appointment only
  
  Running businesses are in occupation and interested parties are asked not to approach staff