An exciting opportunity to purchase a commercial investment and residential development in the heart of a prime part of Wimbledon, South West London.
The property is located in the heart of Wimbledon Broadway, just 0.3 miles from Wimbledon Station.
Existing building is arranged as a commercial premises on the ground floor and a dilapidated maisonette in the uppers. The building currently measures 2,756 sq ft.
The ground floor retail unit is let until April 2036 with a current passing rent of £45,000 per annum, yearly increases are in place until 2026 with 5 yearly rent reviews
thereafter. Details are available upon request.
Planning Permission has been granted for ‘...erection of a four storey rear extension and internal reconfiguration of existing residential unit to create 4 additional residential dwellings...’ (REF: 20/P3088).
The completed scheme will comprise 1,196 sq ft of retail and four flats – 3 x 1 bed and 1 x 2 bed with a total NIA of 2,639 sq ft.
A CIL will be payable totalling £33,371.10.
We understand that the property is not elected for VAT.
Guide Price £1,600,000 (One Million, Six Hundred Thousand Pounds) Subject to Contract (reflecting a low capital value of just £417 psf based off the proposed NIA).