Fulham Road, Chelsea SW10 9TN
Offers in excess of £2,750,000
The existing property comprises a 4-storey mid-terrace building which contains retail and residential uses, which will be sold with full vacant possession.
The ground and lower ground floors are arranged as a self-contained retail unit, most recently used as an A1 retail unit. The upper floors consist of 3 residential units, a 1 bedroom flat and studio flat at 1st floor with a 1 bedroom flat on the 2nd floor. The property also includes a sizeable yard to the rear.
The apartments are let on AST’s producing a combined rent of £48,720 per annum. The tenancy can be terminated at 8 weeks notice.
The building is bounded by a modern mixed-use development to the west, a restaurant with offices above to the east and residential properties to the south.
The property is prominently located on the southern side of Fulham Road in Chelsea, within The Royal Borough of Kensington & Chelsea.
Chelsea is one of London’s most desirable residential areas and Fulham Road itself is host to numerous shops, restaurants and other commercial amenities.
The site is located approximately 0.5 miles from the River Thames.
The nearest London Underground station is Fulham Broadway (circa 0.7 miles) which provides District Line services. West Brompton, Earl’s Court, Gloucester Road and South Kensington stations are also in close proximity.
Planning & Development Potential
Planning permission was approved on 25th January 2019, under reference PP/18/05392, for the demolition of the existing building and the construction of a new 5-storey building to provide 7 residential units with a retail unit extending to 1,009 sq.ft. across the ground and lower ground floors.
The residential element of the proposed scheme comprises 6 x 1 bedroom apartments and 1 x 2 bedroom duplex apartment extending to a total Net Saleable Area of 4,014 sq.ft. The 2 bedroom duplex unit will be arranged across the ground and lower ground floors, and will benefit from a private garden. There will be 2 x 1 bedroom flats on each of the upper floors, with 4 benefiting from a private terrace.
All units are for private sale with no affordable housing required. The planning consent is not subject to any Section 106 financial contributions however, there is a CIL liability of approximately £63,505.35.
The property will be sold freehold and subject to vacant possession if required on completion.
The property is not elected for VAT.
Offers are invited in excess of £2,750,000.
Further information including planning and legal documents are available within our dataroom using the access code ‘Fulham’.
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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- Existing 4-storey mid-terrace building comprising retail space and 3 residential units
- Planning permission for a 5-storey new build scheme comprising 7 residential units (6 x 1 bedroom & 1 x 2 bedroom apartments) totalling 4,014 sq.ft. NSA and a retail unit of 1,009 sq.ft. GIA across ground and lower ground floors
- Highly sought-after location close to numerous commercial amenities and circa 0.7 miles from Fulham Broadway Underground Station
- Offers in excess of £2,750,000 for the vacant freehold interest
To discuss this opportunity further, please contact Paul Heale or Joe Goldsmith on 020 7183 2529