Shrubbery Road, Streatham SW16 2AS
Offers in the region of £1,600,000
The existing property comprises two x three-storey (plus basement) semi-detached residential buildings known as 37 and 39 Shrubbery Road.
37 Shrubbery Road currently consists of a ground floor self-contained apartment with a split level maisonette above.
39 Shrubbery Road currently consists of three self-contained apartments with one located on each floor.
The existing property extends to approximately 4,318 sq.ft. (GIA) situated on a site of circa 0.08 acres.
The property is located on Shrubbery Road in Streatham, within the London Borough of Lambeth. The property is 0.9 miles from Tooting Bec Common, providing a café, a lido and 52 acres of open space.
The immediate area comprises mainly high-quality residential properties. Numerous commercial offerings including shops, restaurants and supermarkets are available on Streatham High Road, located under a minutes’ walk from the subject property.
Streatham station is located 0.4 miles from the site (circa 9 minute walk), providing direct services into Central London, including London Blackfriars and London Victoria in under 20 minutes.
Planning & Development Potential
The site benefits from two separate granted planning applications, both for 9 residential apartments:
New Build Scheme
Planning permission was granted (18/00208/FUL) on 31st January 2019 for the demolition of the existing building and erection of a 3-storey building to create 9 apartments.
The proposed scheme will consist of 1 x studio apartment, 6 x 1 bedroom apartments, 1 x 2 bedroom apartment and 1 x 3 bedroom apartment extending to approximately 5,326 sq.ft.
The planning consent is subject to a S106 obligation for a car club to be put in place and a CIL liability in the region of £17,000.
A variation to the approved scheme is pending (20/03421/VOC) which amends the internal layout of some of the proposed flats and widens some of the external windows whilst retaining the mix and size of the approved units.
Conversion and Extension Scheme
Planning permission was granted (18/00209/FUL) on 31st January 2019 for demolition of the rear extension, excavation of the basement, creation of part one and part two-storey rear extensions as well as the conversion of the existing property to create 9 residential apartments.
The proposed scheme will consist 1 x studio apartment, 7 x 1 bedroom apartments and 1 x 2 bedroom apartment extending to approximately 5,173 sq.ft.
The planning consent is subject to a S106 obligation for a car club to be put in place and a CIL liability in the region of £13,000.
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 £1,600,000 for the freehold interest.
Further information including planning documents and technical documents are available in the dataroom using access code ‘Shrubbery’.
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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- Two semi-detached residential dwellings consisting of 5 apartments on a site of circa 0.08 acres
- Separate planning consents for either a conversion led scheme or a new build scheme to create 9 residential apartments
- Located on a sought-after residential street approximately 0.4 miles from Streatham station
- Offers are invited in the region of £1,600,000 for the freehold
To discuss this opportunity further, please contact Paul Heale or Chris Incledon on 020 7183 2529