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173-175 High Street, Orpington, Kent BR6 0LW Mixed-Use Development Opportunity for Sale 173-175 High Street, Orpington, Kent BR6 0LW

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173-175 High Street, Orpington, Kent BR6 0LW Mixed-Use Development Opportunity for Sale 173-175 High Street, Orpington, Kent BR6 0LW Indicative Visualisation 173-175 High Street, Orpington, Kent BR6 0LW Mixed-Use Development Opportunity For Sale www.kingsbury-consultants.co.uk 173-175 High Street, Orpington, Kent BR6 0LW HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS SUMMARY • 2-storey retail premises extending to approximately 4,330ft2, currently producing £43,750 per annum on a lease until March 2020 • Planning permission for a 4-storey new build scheme comprising 8 residential apartments (1 x 1 bed and 7 x 2 bed units) totalling 5,823ft2 with a ground floor A1 commercial unit of 2,745ft2 • Sought-after location within Orpington Town Centre • Offers invited in excess of £1,300,000 for the freehold interest www.kingsbury-consultants.co.uk 173-175 High Street, Orpington, Kent BR6 0LW HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS DESCRIPTION The existing property comprises a 2-storey retail building extending to approximately 4,330ft2 across ground and first floor. The entire property has A1 (Retail) Use Class. The property incorporates a passageway to the side and a yard to the rear which is accessed via a shared road through Walnuts Shopping Centre. The main entrance to the building is on the High Street. LOCATION The property occupies a prominent position on the eastern side of the High Street within the town centre of Orpington. The Local Authority is the London Borough Bromley. Neighbouring occupiers include Lloyds Bank, Costa Coffee and Walnuts Shopping Centre. Orpington Station is situated circa 0.7 miles from the property and provides regular, direct services into Central London, including London Victoria in under 40 minutes and London Charing Cross is under 30 minutes. www.kingsbury-consultants.co.uk 173-175 High Street, Orpington, Kent BR6 0LW HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS PLANNING & DEVELOPMENT POTENTIAL TENANCIES Planning permission was granted on 31st August 2017 (ref: 17/02330/FULL1) for the The entire property is let to The Edinburgh Woollen Mill Limited (www.ewm.co.uk) on a demolition of the existing building and the construction of a 4-storey building providing 8 5-year FRI lease from 29th March 2015 (expiring March 2020) at a current rent of £43,750 per residential units (1 x 1 bed and 7 x 2 bed apartments) and a ground floor unit of 2,745ft2 annum. There is a Tenant only break clause on 28th March 2018, subject to 6 months written benefiting from A1 (Retail) Use Class. notice. The planning approval is not subject to any Section 106 obligations. There is a CIL liability of The passageway to the side of the property is let on a Tenancy at Will to an individual at nil approximately £22,750. rent in return for keeping the passageway clean and tidy. APPROVED ACCOMMODATION SCHEDULE Unit Floor Description NIA ft2 NIA m2 Commercial Commercial Ground A1 Commercial Unit 2,745 255 Sub-Total 2,745 255 Residential 1 First 2 Bedroom Flat 753 70 2 First 1 Bedroom Flat 549 51 3 First 2 Bedroom Flat 753 70 4 Second 2 Bedroom Flat 753 70 5 Second 2 Bedroom Flat 753 70 6 Second 2 Bedroom Flat 753 70 7 Third 2 Bedroom Flat 753 70 8 Third 2 Bedroom Flat 753 70 Sub-Total 5,823 541 Grand Total 8,568 796 Proposed Front Elevation www.kingsbury-consultants.co.uk 173-175 High Street, Orpington, Kent BR6 0LW HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS TENURE The property will be sold freehold with the existing tenants remaining in-situ. VAT The property is not elected for VAT. TERMS Offers are invited in excess of £1,300,000. ADDITIONAL INFORMATION Further information including approved planning documents and occupational leases are available in the dataroom using the access code ‘Orpington’ CONTACT View from High Street To discuss any aspect of the property of disposal process, please contact the sole selling agents: Jordan Oldfield 020 7183 2529 [email protected] Keir Goldstein 020 7183 2529 [email protected] Kingsbury 1st Floor, 81 Alie Street, London E1 8NH Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, 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. Rear of Existing Building .
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