Larkhall Lane, Clapham SW4 6SH

Offers in excess of £3,000,000

Description

The property comprises a former Public House extending to circa 5,274ft2 GIA over basement, ground and 1st floor. The upper parts are currently arranged as 9 x studio flats which are all let on short term agreements at a rent of £900 per month each. The building occupies a site area of approximately 0.16 acres.

The property incorporates a forecourt used for off-street parking and has frontages onto both Larkhall Lane and Union Road. The site is bounded by a medical centre to the north-west (on Union Road) and a residential block to the north-east (on Larkhall Lane).

Planning permission has been granted for redevelopment of the site with a mixed-use scheme of 14 apartments totalling 9,026ft2 with use commercial space.

Location

The property is located on the corner of Larkhall Lane and Union Road in Clapham, within the London Borough of Lambeth.

The surrounding area comprises mainly of residential uses, however Wandsworth Road and Clapham town centre are located within walking distance providing a variety of shops and amenities.

The nearest London Underground station is Clapham North (approximately 0.4 miles to the south of the site) providing regular links into Central London, including London Bridge in under 10 minutes.

Development Potential

The property benefits from planning permission, granted in February 2017 under reference 16/0184/FUL, for the demolition of the existing building and construction of a new 5-storey (plus basement) building to provide 14 residential apartments (2 x studio, 4 x 1 bed, 6 x 2 bed & 2 x 3 bed units) and A1/A2/A3/A4 commercial space extending to 3,616ft2 across the ground floor and basement.

The planning permission is subject to a Section 106 Agreement providing for 4 Shared Ownership units (2 x 1 bed, 1 x 2 bed & 1 x 3 bed) which are designated as Plots 1, 2, 3 & 4 within the 1st floor.

Section 106 financial contributions totalling £63,824.70 are payable plus a CIL liability of approximately £144,264.

There is potential to achieve an additional storey (5th floor) to create two additional residential
units (16 in total), subject to obtaining the necessary consents.

Tenure

The property is to be sold freehold with vacant possession upon completion.

VAT

We understand that the property is not elected for VAT.

Terms

Unconditional offers are invited in excess of £3,000,000. Alternatively, offers in excess of £2,700,000 plus the entire commercial space built to shell and core and returned to the Seller on a 999 year lease would also be considered.

Additional Information

Further information such as planning documents can be found in our dataroom using the password ‘Larkhall’.


Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, 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: 06869268.


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Summary
  • Planning permission for a 5-storey new build scheme providing 14 residential apartments
  • Former Public House built over 2-storeys (plus basement) occupying circa 0.16 acres
  • Offers invited in excess of £3,000,000 for the entire vacant freehold interest
  • Sought-after South West London location within walking distance of Clapham Common
Contact

To discuss this opportunity further please contact Keir Goldstein or Jordan Oldfield on 020 7183 2529.

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