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223 Streatham Road & 1 Ridge Road, London CR4 2AJ Mixed-Use

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223 Streatham Road & 1 Ridge Road, London CR4 2AJ Mixed-Use Indicative Visualisation 223 Streatham Road & 1 Ridge Road, London CR4 2AJ Mixed-Use Development Opportunity For Sale www.kingsbury-consultants.co.uk 223 Streatham Road & 1 Ridge Road, London CR4 2AJ HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS SUMMARY • Former coachworks plus offices and associated land positioned on a prominent 0.37 acre site • Planning permission for a 4-storey new build scheme comprising 30 residential units totalling 21,044ft2 GIA, all for private sale, and a ground floor A1/B1/D2 commercial unit of 2,099ft2 GIA • Appeal decision pending for a 5-storey scheme comprising 36 residential units plus larger commercial space, with a decision expected in October 2017 • Popular residential location within South West London in close proximity to Tooting Station (direct links to Blackfriars in 24 minutes) • Offers invited in excess of £5,000,000 for the vacant freehold interest, with a £500,000 uplift payable if the Appeal is successful www.kingsbury-consultants.co.uk 223 Streatham Road & 1 Ridge Road, London CR4 2AJ HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS DESCRIPTION The existing property comprises a collection of single-storey light industrial buildings, including ancillary offices, staff areas and storage space, which extend to approximately 2,761ft2 NIA. The site extends to approximately 0.37 acres and benefits from vehicular accesses from both Streatham Road and Ridge Road. The site is bounded by houses to the immediate east (fronting Ridge Road and Caithness Road), with a block of apartments to the west and a parade of shops to the south (both fronting Streatham Road). The property was most recently utilised as a coachworks dealing with the repair and servicing of coaches, buses and cars. LOCATION The site is situated on the eastern side of Streatham Road in Streatham, within the London Borough of Merton. The immediate area comprises mainly residential uses, although there are a number of shops just to the south of the property along Streatham Road, including a Tesco Express. More substantial commercial offerings are available within the town centres of Streatham and Mitcham (both around one mile from the site). The nearest station is Tooting (circa 0.6 miles from the site) which provides direct National Rail links to London Blackfriars in 24 minutes. Streatham Common Station (also National Rail services) is located approximately one mile from the site offering trains to London Victoria in 18 minutes. The nearest London Underground station is Tooting Broadway (circa 1.3 miles) offering Northern Line services to London Bridge in 20 minutes and Bank in 22 minutes. www.kingsbury-consultants.co.uk 223 Streatham Road & 1 Ridge Road, London CR4 2AJ HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS Unit Floor Description GIA ft2 GIA m2 PLANNING & DEVELOPMENT POTENTIAL Commercial A Ground A1 / B1 / D2 Unit 2,099 195 Residential 30 UNIT APPROVED SCHEME 1 Ground & First Three Bedroom Four Person Duplex 1,023 95 2 Ground & First Three Bedroom Four Person Duplex 1,098 102 Planning permission was granted on 10th July 2017, under reference 17/P1537, for 3 Ground & First Three Bedroom Five Person Duplex 1,141 106 demolition of the existing buildings and the construction of a part-2, part-3 and part-4 storey 4 Ground & First Three Bedroom Four Person Duplex 1,173 109 building to provide 30 residential units (1 x studio, 14 x 1 bedroom, 10 x 2 bedroom and 5 x 3 bedroom apartments) with a ground floor commercial unit (A1/B1/D2 Use Classes) of 5 First One Bedroom Two Person Apartment 538 50 2,099ft2. 6 First One Bedroom Two Person Apartment 538 50 7 First Two Bedroom Three Person Apartment 753 70 All residential units are for private sale with no requirement for affordable housing. 8 First One Bedroom Two Person Apartment 538 50 9 First One Bedroom Two Person Apartment 538 50 The planning consent is subject to Section 106 contributions totalling £45,604 and a CIL 10 First Two Bedroom Three Person Apartment 775 72 liability of approximately £481,721. 11 First Two Bedroom Three Person Apartment 797 74 The online planning application can be viewed here. 12 First One Bedroom Two Person Apartment 538 50 13 Second Three Bedroom Five Person Apartment 990 92 36 UNIT APPEALED SCHEME 14 Second One Bedroom Two Person Apartment 538 50 15 Second One Bedroom Two Person Apartment 538 50 Planning permission was refused on 13th February 2017, under reference 16/P4324, for a 5-storey scheme comprising 36 residential units with a ground floor commercial unit of 16 Second Two Bedroom Three Person Apartment 753 70 2,648ft2. 17 Second One Bedroom Two Person Apartment 538 50 18 Second One Bedroom Two Person Apartment 538 50 5 shared ownership units have been proposed within the scheme, leaving 31 units for private 19 Second Two Bedroom Three Person Apartment 764 71 sale. 20 Second One Bedroom Two Person Apartment 614 57 The online planning application can be viewed here. 21 Second Two Bedroom Three Person Apartment 667 62 22 Second One Bedroom Two Person Apartment 538 50 An Appeal has been lodged against the refusal and a decision is expected in October 2017. 23 Third Two Bedroom Four Person Apartment 893 83 24 Third Studio Apartment 409 38 25 Third Two Bedroom Four Person Apartment 753 70 26 Third One Bedroom Two Person Apartment 538 50 27 Third One Bedroom Two Person Apartment 538 50 28 Third Two Bedroom Three Person Apartment 657 61 29 Third Two Bedroom Four Person Apartment 786 73 30 Third One Bedroom Two Person Apartment 538 50 Sub-Total 21,044 1,955 Indicative Visualisation Grand Total 23,143 2,150 www.kingsbury-consultants.co.uk 223 Streatham Road & 1 Ridge Road, London CR4 2AJ HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS TENURE The property will be sold freehold with vacant possession on completion. VAT The property is not elected for VAT. TERMS Offers are invited in excess of £5,000,000, with an additional £500,000 payable in the event the Appeal is allowed. ADDITIONAL INFORMATION Further information including planning documents and the legal pack can be viewed in the dataroom using access code ‘Ridge’. CONTACT Existing Property 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. Indicative Visualisation.
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