Overview

Development opportunity for sale

Planning granted to extend and convert the existing upper floors creating 4 x flats

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  Description
  Consented development opportunity for sale
  
  Existing ground floor commercial unit (not included in sale - available by separate negotiation) 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

  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
  Offers in excess of £750,000 are invited (not including the retail unit)
  CIL: £76,542

  Viewings
  Please do not approach staff - View by appointment - Contact sole agents - Christopher St James 020 8545 0591