19-25 Rotherhithe New Road, Surrey Quays SE16 2PS
Rare freehold development site for sale within Canada Water Core action area SUMMARY
Opportunity to acquire a freehold development site, located within the ‘Core Action Area’ within the Canada Water Area Action Plan, which was released in 2015
The subject site occupies a prominent corner plot extending c.0.15 acres / 6,534sqft
There is an existing commercial unit being operated as a hand car wash and barbers. This unit produces £30,000pax and is a single let, on a rolling monthly tenancy outside the 1954 Landlord & Tenant Act We feel from reviewing the sites location within the action plan that an 8-12 storey building would be suitable subject to planning permission. Please note this is just our opinion and all buyers should seek their own views independently
Unconditional offers are invited for the site. We are guiding at offers in excess of £2,750,000 for the freehold interest with the benefit of the existing tenancy and income
DESCRIPTION LOCATION
A rare opportunity to purchase a freehold development The site is located along Rotherhithe New opportunity, with huge potential given its prominent location Road (A2208) close to the junction with within the ‘Core Action Area’ within Canada Water’s Area Lower Road and Bush Road. Surrey Quays Action Plan. train station is approximately 0.3 miles from the site and provides access to London The subject property occupies a prominent corner site along overground trains. This service provides Rotherhithe New Road. The site measures c.0.15 acres / access to Shoreditch High Street in just 5 stops. 6,534sqft, and currently has a single storey commercial unit occupying part of the site which measures c.2,192sqft. This Canada Water is just over half a mile away unit is currently split; operating as a hand car wash and barbers, from the site, offering London underground and the vendor has agreed a rolling monthly lease on the unit services via the Jubilee Line. This line provides producing £30,000pax. Please note that this lease is outside access to Canary Wharf in one stop, and the provisions of the 1954 Landlord and Tenant Act. London Bridge in just two stops.
Image showing Canada Water Area Action Plan POTENTIAL
We believe the site offers potential to be comprehensively redeveloped into a dense mixed-use scheme subject to the necessary planning consents. We feel this is possible given the site occupies a prominent corner plot, and is located within the core area of Canada Water’s Area Action Plan which was released in 2015.
We invite purchasers to review the relevant policy documents on Southwark’s website or by following the link; https://www.southwark.gov.uk/assets/attach/1630/Canada%20Water%20AAP%202015.pdf. Our understanding suggests the site would support an 8-storey scheme, however may lend itself to something taller based on the tall building policy encouraging 20-25 storey buildings within the town centre, with this site just on the edge of the allocated town centre zone. We advise that all interested parties seek their own independent planning advice before placing an offer.
TERMS
We are inviting offers in excess of £2,750,000 for the freehold interest with the benefit of the existing income and tenancy.
PROPERTY ADDRESS
19-25 Rotherhithe New Road, Surrey Quays SE16 2PS
33 Queen Street London EC4R 1AP
+44 (0) 207 299 4230
www.henshallandpartners.co.uk
Important Notice: Particulars: 1. These particulars are not an offer or contract, nor part of one. You should not rely on statements by Henshall & Partners in the particulars or by word of mouth or in writing (“in- formation”) as being factually accurate about the property, its condition or its value. Neither Henshall & Partners Ltd nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice. Henshall and Partners Ltd (Reg No:10712199). Registered address: Onega, 112 Main Road, Sidcup DA14 6NE.