Indicative Visualisation London Road, Mitcham CR4 3ND Mixed-Use Development Opportunity For Sale
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1 Indicative Visualisation Mixed-Use Development Opportunity For Sale
2 HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS SUMMARY Cleared development site extending to approximately 0.26 acres Planning permission for a 4-storey new build scheme comprising 22 residential units totalling 15,231ft 2 GIA (all for private sale) and a ground floor A1/A2/A3/B1 commercial unit of 2,099ft 2 GIA Popular residential location approximately 0.8 miles from Mitcham Junction Station (links to London Blackfriars in 29 minutes) Offers invited in the region of 3,250,000 for the vacant freehold interest
3 DESCRIPTION & LOCATION HOME SUMMARY DEVELOPMENT TERMS DESCRIPTION The existing property comprises a cleared and leveled development site extending to approximately 0.26 acres. The site was previously occupied by a Kwik Fit vehicle service and repair centre, however all buildings have been demolished in readiness for development. The property has frontages to London Road to the south-east and Broadway Gardens to the south-west. It is bounded by terraced houses and an apartment block to the north and northwest, with a mixed-use property (shops with flats above) to the north-east. Vehicular access to the site is taken from Broadway Gardens. LOCATION The site is situated on London Road in the South London suburb of Mitcham, within the London Borough of Merton. The immediate area comprises a mix of residential and commercial uses, with numerous shops, restaurants and other commercial amenities available along London Road itself. There are several public parks in close proximity including Mitcham Common, Morden Hall Park and Ravensbury Park. The nearest station Mitcham Junction (circa 0.8 miles from the site) which provides direct National Rail links to London Blackfriars in 29 minutes. Morden London Underground Station is located circa 1.4 miles from the site, providing Northern Line services to Central London (Bank in 28 minutes).
4 HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL APPROVED ACCOMMODATION SCHEDULE Planning permission was granted on 17th February 2016, under reference 15/P3114, for the construction of a part 3 and part 4-storey building to provide 22 residential units (12 x 1 bedroom, 9 x 2 bedroom and 1 x 3 bedroom apartments) with a ground floor commercial unit (A1/A2/A3/B1 Use Classes) of 2,099ft 2 GIA. All residential units are for private sale with no requirement for affordable housing. The planning consent is subject to a Section 106 Agreement providing for a financial contribution of 202,500. A CIL liability of approximately 208, is applicable. The online planning application can be viewed here. Indicative Visualisations Unit Floor Description GIA ft 2 GIA m 2 Commercial 1 Ground A1 / A2 / A3 / B1 Commercial Unit 2, Sub-Total 2, Residential 1 Ground Two Bedroom Four Person Apartment Ground Two Bedroom Four Person Apartment First One Bedroom Two Person Apartment First One Bedroom Two Person Apartment First One Bedroom Two Person Apartment First One Bedroom Two Person Apartment First Two Bedroom Four Person Apartment First Two Bedroom Four Person Apartment First Two Bedroom Four Person Apartment Second One Bedroom Two Person Apartment Second One Bedroom Two Person Apartment Second One Bedroom Two Person Apartment Second One Bedroom Two Person Apartment Second Two Bedroom Four Person Apartment Second Two Bedroom Four Person Apartment Second Two Bedroom Four Person Apartment Third One Bedroom Two Person Apartment Third One Bedroom Two Person Apartment Third One Bedroom Two Person Apartment Third One Bedroom Two Person Apartment Third Two Bedroom Four Person Apartment Third Three Bedroom Six Person Apartment 1, Sub-Total 15,231 1,415 Total 17,330 1,610
5 HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS TENURE The property will be sold freehold with vacant possession upon completion. VAT The property is not elected for VAT. TERMS Offers are invited in the region of 3,250,000 for the freehold interest. ADDITIONAL INFORMATION Further information including planning and legal documents are available within our dataroom using the access code London. CONTACT To discuss any aspect of this property or the disposal process, please contact the sole selling agents: Jordan Oldfield Keir Goldstein Kingsbury 1st Floor, 81 Alie Street, London E1 8NH Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: Indicative Visualisation
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