47 Lower Road, Sutton, London SM1

£450,000

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Overview

Freehold investment / development opportunity for sale with income producing commercial space on the ground floor and planning granted to extend and convert the upper residential unit into 2 x flats - Close to Sutton Town Centre

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    Location
    The property is situated in small mixed use parade on the north side of Lower Road, between the junctions of
    Constance Road and Benhill Road, The surrounding area is predominantly residential

    Sutton Town Centre is approximately 0.5 miles away with many of the major high street in occupation as well as a wide range of independant retailers

    Sutton BR Station (Southern & Thameslink Lines) is 0.7 miles away

    Description
    Investment / development opportunity comprising mixed use mid terraced property, ground floor commercial with residential apartment above that is now stripped and ready for extension / conversion to take place

    The ground floor is let to J P McDougall & Co Ltd on a Full Repairing and Insuring Lease for a term of 10 years from 13 August 2018, to expire 12 August 2028, with a rent review on 13 August 2023.

    The Lease has a Tenant only break clause on 12 August 2023. The current passing rental is £10,000 per annum
    exclusive.

    Accommodation
    Existing:
    Ground Floor Retail 45.95 sq m (495 sq ft)
    First Floor 1-Bed Maisonette 50.11 sq m (539 sq ft)

    Proposed:
    Ground Floor as above
    First Floor 1 Bed + study flat 44.8 sq m (482 sq ft)
    Second Floor 1 Bed flat 40.4 sq m (434 sq ft)

    Planning
    Sutton Borough Council granted permission on 12th February 2021 ref: DM2020/01877 for ....
    Conversion of loft space involving a dormer extension at rear and rooflights to front roof slope to provide 1 self contained residential unit.

    Additional Information
    Works have begun and private building control has been paid and steel calculations & detailed drawings are available

    S106
    Any residential occupier of the new second floor flat will not be entitled to apply for a parking permit unless the occupier is entitled to a disabled persons badge

    CIL
    Total CIL liability £6,611.02

    Terms
    Offers in excess of £450,000 are invited

    Viewing
    Contact sole agents
    Christopher St James
    020 8296 1273

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