FOR SALE

Streatham Road, Streatham SW16 6NZ

Offers in excess of £3,500,000

Description

The property comprises four single storey retail units and one office unit with associated yard area and storage, offering substantial road frontage. Vehicular access to the property is taken
directly from Streatham Road.

The site area extends to approximately 0.22 acres and is bounded by residential properties to the east and railway lines to the south.

Given the previous use of the site we understand that the current Use Class is A1 (Retail).

Planning permission has been approved for redevelopment of the site to create a high quality scheme of apartments with a commercial opportunity which should appeal to numerous operators.

Location

The site is situated on the southern side of Streatham Road in Streatham, within the London Borough of Merton. The immediate area comprises mainly residential uses.

The property is well located for access to the town centres of both Mitcham (to the south) and Streatham (to the north) which offer numerous shops, restaurants and other amenities.

The nearest stations are Streatham Common and Tooting (both located approximately 1km from the site) which provide direct services to Central London.

Journey times include:
London Victoria – 18 minutes | King’s Cross St Pancras – 35 minutes

Development Potential

The property was given a resolution to grant planning permission in March 2017 (reference 16/P3598) for the demolition of all buildings and redevelopment of the site to provide 25 residential apartments (4 x studio, 14 x 1 bed, 6 x 2 bed and 1 x 3 bed units) and 486sq.m. of commercial space at ground floor level within a part three, part four and part five storey building.

The planning approval is subject to the completion of a Section 106 Agreement with obligations for 3 residential units to be Shared Ownership (Plots 4, 5 and 6). We understand that the combined Section 106 financial contributions and CIL liability will be circa £352,000.

The online planning application can be viewed here.

The scheme has been designed by award winning architects Autor Architecture and has been shortlisted for a 2017 Housing Design Award.

Tenure

The property will be sold freehold with vacant possession upon completion.

VAT

We understand that the property is not elected for VAT.

Terms

Offers are invited in excess of £3,500,000.

Additional Information

Further information including approved drawings and the draft Section 106 Agreement can be viewed in the dataroom using access code ‘Streatham’

 


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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  • Four retail units and one office unit with yard situated on a site of circa 0.22 acres
  • Planning permission for a new build scheme comprising 25 residential apartments totalling 16,340sq.ft. (22 for private sale and 3 Shared Ownership) and a retail unit of 5,231sq.ft.
  • Popular residential location in close proximity to both Streatham Common and Tooting stations
  • Offers invited in excess of £3,500,000 for the vacant freehold interest

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

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