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219-233 Coldharbour Lane, Brixton, London SW9 8RU Freehold Site with Planning Permission and Potential to Add Further Value

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219-233 Coldharbour Lane, Brixton, London SW9 8RU Freehold site with planning permission and potential to add further value. View more information... 291-233 Coldharbour Lane, Brixton, London SW9 8RU Home Description Location Terms View all of our instructions here... III III • Planning permission for 8 private flats, offices and retail. • Potential to increase to 10 flats using PD rights. • Consented scheme - part conversion and part new build. • Prominent corner plot. • Short term income. • Residential units help to buy applicable. DESCRIPTION A prominent freehold corner site on the junction with Coldharbour Lane, Loughborough Road and Hinton Road adjacent to Loughborough Junction Overground Station (approximately 50m). The site has planning permission to convert and extend the existing 2 storey building to provide a 5 storey mixed-use development with 2,206sqft of retail, 3,649sqft of offices / employment space and 8 private flats above. The existing building comprises a 2,465 sqft furniture shop, split over ground (A1) and first floor (A1 ancillary) fronting Coldharbour Lane. The remainder of the site, fronting Hinton Road, accommodates 3,385sqft of sui generis space, that was previously used as garage servicing/ repair and car wash. The existing first floor fronting Coldharbour Lane has potential to convert into a further 2 flats under permitted development rights (class G) taking the development to 10 flats. METHOD OF CONSTRUCTION The proposed method of construction for the consented scheme is a steel frame within the existing building that then extends up to provide the additional 3 floors. 291-233 Coldharbour Lane, Brixton, London SW9 8RU Home Description Location Terms View all of our instructions here... III III LOCATION/TRANSPORT The property is located at the junction with Coldharbour Lane, Loughborough Road and Hinton Road. Loughborough Junction Station is within 50m and provides Thameslink and National Rail with access into Farringdon in 15 minutes, Blackfriars in 7 minutes and St Pancras International in 19 minutes. Loughborough Junction is located between Brixton to the West, Camberwell to the North East and Herne Hill / Dulwich to the South. Brixton Station is also 0.7 miles away providing access to the Victoria line and wider tube next work. The area benefits from some regeneration in recent years. The development of the Higgs Industrial Estate site which has planning permission for 134 residential units and 44,670sqft of commercial / employment floorspace will significantly enhance the immediate area. PLANNING Planning permission was granted under Lambeth Council reference number 20/01313/FUL for the ‘retention of the existing building and the erection of part 1, part 2, part 3 storey extensions with partial demolition of the existing building to provide a mixed-use scheme over five floors comprising eight residential units (C3 Use Class), retention of 205sqm shop (A1 use class) and/or cafe (A3 use class) and provision of 329sqm of new business floorspace (B1 Use Class) involving elevational changes to the retained ground and first floor levels and the provision of 30 cycle parking spaces, amenity space and ancillary facilities’. The property is not Listed nor within a Conservation area. S106 The viability appraisal shows that no affordable housing should be provided. As with all Lambeth S106’s for sites of this nature, the S106 does contain a late stage review where final costs need to be shown. E: [email protected] W: acorngroup.co.uk/commercial 120 Bermondsey Street, 9 St. Marks Road, London SE1 3TX Bromley, Kent BR2 9HG T: 020 7089 6555 T: 020 8315 5454 291-233 Coldharbour Lane, Brixton, London SW9 8RU Home Description Location Terms View all of our instructions here... III III S106 & CIL PAYMENTS PAYABLE S106 - £48,767.25. CIL - £75,324.60. CIL is subject to indexation. A purchaser should satisfy themselves on CIL payable. FURTHER POTENTIAL There could be potential for further height, subject to planning permission. There are examples of recent planning consents with height in the immediate area. The former Hero Of Switzerland, 142 Loughborough Road London SW9 7LL has planning permission for a 13 storey development. The Higgs Industrial Estate has planning permission for a 16 storey development. There is also a planning application pending for a part 20 and part 29 storey development on the corner of Hinton Road and Wellfit Street. It is also worth looking into the new permitted development, prior approval and use class changes as this could be advantageous in adding value. TENANT There is a tenant occupying the entire property paying a rent of £17,700pa. The property will be sold with the tenant in occupation and the benefit of the income. The lease is outside the Landlord & Tenant Act. The lease expired in March 2020 and the tenant is holding over. Vacant possession can be obtained by serving two months’ notice. E: [email protected] W: acorngroup.co.uk/commercial 120 Bermondsey Street, 9 St. Marks Road, London SE1 3TX Bromley, Kent BR2 9HG T: 020 7089 6555 T: 020 8315 5454 291-233 Coldharbour Lane, Brixton, London SW9 8RU Home Description Location Terms View all of our instructions here... III III CONSENTED ACCOMMODATION SCHEDULE COMMERCIAL Unit Floor Description Type Size (sqm) Size (sqft) A Ground Retail Conversion 114.5 1,232 B First Retail Conversion 90.3 972 C Ground B1 Conversion 137.7 1,482 D Ground B1 Conversion 122.5 1,319 E First B1 Conversion 78.5 845 Sub-total: 543.5 5,850 RESIDENTIAL Unit Floor Description Type Size (sqm) Size (sqft) 1 First 2 bed flat with terrace Conversion 73.2 787 2 Second 2 bed flat with internal balcony New build 62.7 674 3 Second 2 bed flat with internal balcony New build 75.1 808 4 Second 1 bed flat with internal balcony New build 53.6 576 5 Third 3 bed flat with internal balcony New build 108.2 1,164 6 Third 1 bed flat with internal balcony New build 52.1 560 7 Fourth 1 bed flat with internal balcony New build 50.8 546 8 Fourth 1 bed flat with terrace New build 50.8 546 Sub-total: 526.5 5,661 Total 1,070 11,511 THE SCHEME INCLUDES A COMMUNAL ROOF GARDEN OF C. 99SQM/947SQFT. 291-233 Coldharbour Lane, Brixton, London SW9 8RU Home Description Location Terms View all of our instructions here... III III Existing building from Hinton Road. 291-233 Coldharbour Lane, Brixton, London SW9 8RU Home Description Location Terms View all of our instructions here... III III CGI of proposed development from Hinton Road. 291-233 Coldharbour Lane, Brixton, London SW9 8RU Home Description Location Terms View all of our instructions here... III III CGI of proposed consented scheme from Coldharbour Lane & Loughborough Road. 291-233 Coldharbour Lane, Brixton, London SW9 8RU Home Description Location Terms View all of our instructions here... III III Existing building from Coldharbour Lane. 291-233 Coldharbour Lane, Brixton, London SW9 8RU Home Description Location Terms View all of our instructions here... III III TERMS CGI of proposed consented scheme from Coldharbour Lane. Offers in excess of £2,000,000 are invited for the freehold property / site with the benefit of the current planning consent and income. VAT We understand that VAT is not chargeable. FURTHER INFORMATION The following information is available upon request:- - Existing and consented plans. - Schedule of resale values - Plans showing how 2 additional flats (9 & 10) can be created under PD at 1st floor over the existing retail unit. - Planning decision notice. - S106. - Viability appraisals. SERVICES We understand the existing property is connected to all mains services, however, interested parties are advised to make their own enquiries in this regard. VIEWINGS The property / site can be viewed from the roadside without prior appointment. Any internal inspections are strictly by prior appointment only. For more This [brochure and its content] is copyright of Acorn Limited © 2016. All rights reserved. Any redistribution information or reproduction of part or all of the contents in any form is prohibited. You may not, except with our express E: [email protected] written permission, distribute or commercially exploit the content, nor may you transmit it or store it in any contact: W: acorngroup.co.uk/commercial form. Louis Markham or Tom Luck Acorn as our vendor’s agents have endeavoured to check the accuracy of these sales particulars, but however 120 Bermondsey Street, 9 St. Marks Road, 020 7089 6555 can offer no guarantee, we therefore must advise that any prospective purchaser employ their own experts London SE1 3TX to verify the statements contained herein. All measurements are approximate and should not be relied Bromley, Kent BR2 9HG Meet the rest of the team... upon. No equipment, utilities, circuits or fittings have been tested. T: 020 7089 6555 T: 020 8315 5454.
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