30-34 London Road, East Grinstead, West Sussex Rh19 1Ag

DEVELOPMENT OPPORTUNITY FOR SALE

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30-34 LONDON ROAD, EAST GRINSTEAD, WEST SUSSEX RH19 1AG

SUMMARY LOCATION

• Ground and first floor ancillary areas and airspace above 3 shops The property occupies a prominent position on London Road, within East Grinstead. • Planning permission for conversion and extension to create 17 residential apartments totalling 11,738ft2, all for private sale East Grinstead is an affluent Town located in West Sussex and a new ground floor commercial unit of 1,313ft2 approximately 27 miles south of Central London.

• Sought-after town centre location approximately 0.5 miles from The property is located 0.5 miles from East Grinstead train station East Grinstead Station providing direct National Rail services to Central London, including London Victoria in under 60 minutes. • Offers invited in the region of £750,000 for the freehold interest, subject to the seller retaining the existing retail units and taking a virtual freehold leaseback of the new commercial unit built to shell & core DESCRIPTION

The property comprises part of the ground floor and the entire first floor ancillary areas and flat roof above 3 shops (Costa Coffee, Boots and The Edinburgh Woollen Mill).

Access to the upper parts is currently provided via a side entrance on Queens Walk. TENURE

The property will be sold on a freehold, subject to the Seller retaining the all of the ground floor commercial space (existing and proposed) on new 999 year lease.

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VAT DEVELOPMENT POTENTIAL

We understand that the property is elected for VAT. The property benefits from planning permission, granted in June 2019 under reference DM/18/2311, for the redevelopment of the property TERMS to create 17 residential apartments (7 x 1 bed and 10 x 2 bed units) totalling 11,738ft2 and a new ground floor commercial unit of 1,313ft2. Offers are invited in the region of £750,000 for the freehold interest. All units are for private sale, however the planning consent is ADDITIONAL INFORMATION subject to a Section 106 agreement which obligates for a financial contribution of £50,240 as well as viability reassessment obligations. Further information including approved planning documents can be No CIL liabilities apply. found in our dataroom using the password ‘Grinstead’. The new commercial unit is to be created by re-configuring the existing ground floor ancillary space, and this is to be handed back PROPOSED ACCOMMODATION SCHEDULE the Seller on a long lease along with the 3 existing shops. The residential units are constructed by way of converting the existing 1st Unit Floor Description GIA ft2 GIA m2 floor space plus extensions. 1 First 2 Bedroom 4 Person Apartment 767 71.3 2 First 2 Bedroom 4 Person Apartment 794 73.8 As per the planning permission, the proposed residential units will be 3 Second 1 Bedroom 2 Person Apartment 539 50.1 accessed via a new self-contained entrance to the rear of the existing 4 Second 2 Bedroom 4 Person Apartment 767 71.3 shops at ground floor level. 5 Second 2 Bedroom 4 Person Apartment 781 72.6 6 Second 2 Bedroom 4 Person Apartment 771 71.6 CONTACT 7 Second 1 Bedroom 2 Person Apartment 544 50.5 To discuss any aspect of this property or the disposal process, 8 Third 1 Bedroom 2 Person Apartment 539 50.1 please contact the Seller’s sole agents: 9 Third 2 Bedroom 4 Person Apartment 767 71.3 10 Third 2 Bedroom 4 Person Apartment 781 72.6 Jordan Oldfield – 020 7183 2529 11 Third 2 Bedroom 4 Person Apartment 771 71.6 [email protected] 12 Third 1 Bedroom 2 Person Apartment 544 50.5 Keir Goldstein – 020 7183 2529 13 Fourth 1 Bedroom 2 Person Apartment 539 50.1 [email protected] 14 Fourth 2 Bedroom 4 Person Apartment 767 71.3 Kingsbury 15 Fourth 1 Bedroom 2 Person Apartment 656 60.9 1st Floor, 81 Alie Street, London E1 8NH 16 Fifth 2 Bedroom 4 Person Apartment 803 74.6

17 Fifth 1 Bedroom 2 Person Apartment 606 56.3 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 Total 11,738 1,090.5 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.