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360-364 London Road, Mitcham CR4 3ND Mixed-Use Development Opportunity For Sale www.kingsbury-consultants.co.uk 360-364 London Road, Mitcham CR4 3ND
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
SUMMARY
• Cleared development site extending to approximately 0.26 acres
• Planning permission for a 4-storey new build scheme comprising 22 residential units totalling 15,231ft2 GIA (all for private sale) and a ground floor A1/A2/A3/B1 commercial unit of 2,099ft2 GIA
• Popular residential location approximately 0.8 miles from Mitcham Junction Station (links to London Blackfriars in 29 minutes)
• Offers invited in excess of £3,250,000 for the vacant freehold interest www.kingsbury-consultants.co.uk 360-364 London Road, Mitcham CR4 3ND
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
DESCRIPTION
The existing property comprises a cleared and levelled development site extending to approximately 0.26 acres.
The site was previously occupied by a Kwik Fit vehicle service and repair centre, however all buildings have been demolished in readiness for development.
The property has frontages to London Road to the south-east and Broadway Gardens to the south-west. It is bounded by terraced houses and an apartment block to the north and north- west, with a mixed-use property (shops with flats above) to the north-east.
Vehicular access to the site is taken from Broadway Gardens.
LOCATION
The site is situated on London Road in the South London suburb of Mitcham, within the London Borough of Merton.
The immediate area comprises a mix of residential and commercial uses, with numerous shops, restaurants and other commercial amenities available along London Road itself.
There are several public parks in close proximity including Mitcham Common, Morden Hall Park and Ravensbury Park.
The nearest station Mitcham Junction (circa 0.8 miles from the site) which provides direct National Rail links to London Blackfriars in 29 minutes. Morden London Underground Station is located circa 1.4 miles from the site, providing Northern Line services to Central London (Bank in 28 minutes). www.kingsbury-consultants.co.uk 360-364 London Road, Mitcham CR4 3ND
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
PLANNING & DEVELOPMENT POTENTIAL APPROVED ACCOMMODATION SCHEDULE
Planning permission was granted on 17th February 2016, under reference 15/P3114, for Unit Floor Description GIA ft2 GIA m2 the construction of a part 3 and part 4-storey building to provide 22 residential units (12 x 1 Commercial bedroom, 9 x 2 bedroom and 1 x 3 bedroom apartments) with a ground floor commercial unit 1 Ground A1 / A2 / A3 / B1 Commercial Unit 2,099 195 (A1/A2/A3/B1 Use Classes) of 2,099ft2 GIA. Sub-Total All residential units are for private sale with no requirement for affordable housing. Residential 1 Ground Two Bedroom Four Person Apartment 807 75 The planning consent is subject to a Section 106 Agreement providing for a financial 2 Ground Two Bedroom Four Person Apartment 786 73 contribution of £202,500. A CIL liability of approximately £208,161.10 is applicable. 3 First One Bedroom Two Person Apartment 581 54 4 First One Bedroom Two Person Apartment 570 53 here. The online planning application can be viewed 5 First One Bedroom Two Person Apartment 549 51 6 First One Bedroom Two Person Apartment 549 51 7 First Two Bedroom Four Person Apartment 840 78 8 First Two Bedroom Four Person Apartment 807 75 9 First Two Bedroom Four Person Apartment 786 73 10 Second One Bedroom Two Person Apartment 581 54 11 Second One Bedroom Two Person Apartment 570 53 12 Second One Bedroom Two Person Apartment 549 51 13 Second One Bedroom Two Person Apartment 549 51 14 Second Two Bedroom Four Person Apartment 840 78 15 Second Two Bedroom Four Person Apartment 807 75 16 Second Two Bedroom Four Person Apartment 786 73 17 Third One Bedroom Two Person Apartment 581 54 18 Third One Bedroom Two Person Apartment 570 53 19 Third One Bedroom Two Person Apartment 549 51 20 Third One Bedroom Two Person Apartment 549 51 21 Third Two Bedroom Four Person Apartment 840 78 22 Third Three Bedroom Six Person Apartment 1,184 110 Sub-Total 15,231 1,415 Indicative Visualisations Total 17,330 1,610 www.kingsbury-consultants.co.uk 360-364 London Road, Mitcham CR4 3ND
HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS
TENURE
The property will be sold freehold with vacant posession upon completion.
VAT
The property is not elected for VAT.
TERMS
Offers are invited in excess of £3,250,000 for the freehold interest.
ADDITIONAL INFORMATION
Further information including planning and legal documents are available within our dataroom using the access code ‘London’.
CONTACT To discuss any aspect of this property or the 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