Cheam Road, Sutton SM1 1SR
Offers in the region of £2,750,000
The property comprises a commercial building formerly operated as a nightclub extending t0 approximately 11,716ft2 across lower ground, ground and first floors.
The entire property is currently vacant and previously occupied in 2018.
The ground and lower ground floors comprise a dance floor, toilets and bar area extending to approximately 10,975 sq.ft. The first floor extends to approximately 741 sq.ft. and was previously used as a management office.
Planning permission has now been granted to demolish the nightclub and build a new development comprising commercial and residential units.
The property is located on Cheam Road within Sutton town centre.
The immediate area comprises a mixture of commercial and residential uses with the High Street within walking distance offering numerous restaurants and amenities.
Sutton train station is located approximately 0.2 miles from the property, providing frequent national rail services into London Victoria in under 35 minutes.
Planning & Development Potential
Planning permission was granted on 18th May 2021 (ref: DM2020/00570) for the demolition of the existing building and erection of a new build 4-storey block comprising flexible commercial at lower ground and ground floor extending to approximately 4,402 sq.ft. and 25 residential units (12 x 1 bed, 9 x 2 bed and 4 x 3 bed units) extending to approximately 18,299 sq.ft.
The planning consent is subject to a Section 106 Agreement which sets out various obligations including the provision of 9 apartments to be provided for Affordable Housing (7 x Affordable Rent / 2 x Shared Ownership). The S106 also contains financial obligations totalling £21,053.
A CIL liability of approximately £169,990 is payable. Please note that this is an indexed estimate as at May 2021 and should not be relied upon, any prospective purchasers should undertake their own analysis.
The property will be sold freehold and subject to vacant possession upon completion.
The property is not elected for VAT.
Offers are invited in the region of £2,750,000 for the freehold interest.
Further information including planning documents and technical documents are available in the dataroom using access code ‘10Cheam’.
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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- Former nightclub (Sui Generis Use Class) extending to approximately 11,716 sq.ft. situated across lower ground, ground and first floors
- Planning granted for the demolition of the existing building to provide 25 residential units extending to approximately 18,299 sq.ft. and flexible commercial space extending to 4,402 sq.ft.
- 16 units are designated for private sale and 9 for Affordable Housing
- Located in Sutton town centre, 0.2 miles from Sutton Station
- Offers are invited in the region of £2,750,000 for the freehold interest
To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529