Overview

Income producing mixed use opportunity for sale with potential to increase residential space subject to relevant consents

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  Full Description
  Investment / development opportunity for sale comprising ground floor commercial unit with two x one bedroom flats above
  
  The flats are accessed through a door in the archway and the commercial unit has two entrances one behind the roller shutter on Walpole Road and the other is in the Mews
  
  Subject to the relevant consents potential exists to redevelop the roof space and convert the commercial into residential
  
  Currently the property is fully let and producing £31,620 with scope to increase, the break down is as follows
  
  Flat 1 Walpole Mews - Let on an AST expiring December 2022 at £995 pcm
  Flat 1b Walpole Mews - Let on an AST expiring February 2023 at £950 pcm
  Commercial 1 Walpole Road - Let on a lease expiring October 2025 at £690 pcm (underlet)
  
  The property is held under two freehold titles and we would draw your attention to the existence of a flying freehold over part of the site (indemnity insurance is in place)

  Location
  The property is situated on Walpole Road and part set back within Walpole Mews, and within 5 minutes walk of Colliers Wood Underground Station
  
  Colliers Wood is located in the London Borough of Merton, approximately 12.8 km (8 miles) south of Central London, 2 miles east of Wimbledon and approximately 2 miles south of Balham.
  
  Colliers Wood is a densely populated south-west London suburb, popular with both City workers and families. Communications are excellent with Central London being within easy reach by London Underground (Colliers Wood, Northern Line), road (30 minutes) and over-ground rail with Tooting Railway Station 30 minutes to London Waterloo / London Kings Cross.
  
  Colliers Wood has and continues to benefit from significant regeneration, which includes a new town square to complement the redevelopment of Colliers Wood Tower to residential units.

  Terms
  Offers in excess of £625,000 are invited
  Freehold / Flying Freehold

  Viewing
  Contact sole agents
  Christopher St James
  020 8296 1273

  Planning
  Subject to the relevant consents an additional floor could be added and the commercial space converted to residential
  
  Please rely on your own investigations with Merton Council, Civic Centre, London Road, Morden SM4 5DX Tel: 020 8545 3777 - planning@merton.gov.uk