MapCommercial development
Commercial development
2,376 sq ft / 221 sq m
Features and description
- Tenure: Freehold
- Substantial mixed-use premises
- Low capital value of £168.35 psf
- Development potential (STPP)
- Ground and basement let on a short lease
- First floor flat sold off
- Income producing £19,250 pa
- Close proximity to Herne Hill Overground Station and Brixton Underground Station
Location:
The property is located on the West Side of Shakespeare Road, near the junction with Mayell Road. The property sits on the boundary of Herne Hill and is located near Brockwell Park & Lido. The nearest transport routes are to be found at Brixton Town Centres, which is 0.4 miles away.
Description:
A substantial mixed use property arranged over basement , ground & first floor of this semi detached period property. The first floor comprises a flat which has been sold off on long lease and the basement and Ground floors are let to a local church. Excellent floor to ceiling heights - GF approx. 3M and basement approx. 2.1m.
Development:
We are of the opinion that the premises could be re-purposed to provide 2-3 flats, once vacant possession is obtained from the occupational tenants. This may be enabled via Class MA Permitted Development but shall also require planning permission for further alterations. Prospective buyers should seek independent advice and satisfy themselves prior to any purchase.
Accommodation Schedule:
The property offers the following (NIA) approximate dimensions.
Sq Ft Sq M
Floor: Ground Floor: 1614 149.95
Basement: Total: 762 70.80
Total: 2,376 220.75
Tenure:
Freehold, subject to existing long leasehold of the first floor flat and occupational lease of the basement and ground floor.
Tenancies:
Ground Floor, Basement and Rear Yard The commercial unit is subject to a 6 year lease expiring 16th September 2026 let to Believers Home Chapel. The passing rent is £19,200 per annum exclusive with a rent review on the 5th anniversary of the letting.
1st Floor Apartment The residential apartment is subject to a 999 year long lease from 2012 (988 years remaining). Ground Rent £50 per annum doubling every 100 years.
Total income: £19,250 per annum
Terms:
Offers in excess of £400,000. A purchase at this level reflects a very low capital value of £168.35 per Sq Ft when compared to residential resale's which are in excess of £750 per Sq Ft.
AML:
In accordance with Anti-Money Laundering Regulations, we shall require additional information from the purchaser/tenants so that an online verification can be undertaken.
The property is located on the West Side of Shakespeare Road, near the junction with Mayell Road. The property sits on the boundary of Herne Hill and is located near Brockwell Park & Lido. The nearest transport routes are to be found at Brixton Town Centres, which is 0.4 miles away.
Description:
A substantial mixed use property arranged over basement , ground & first floor of this semi detached period property. The first floor comprises a flat which has been sold off on long lease and the basement and Ground floors are let to a local church. Excellent floor to ceiling heights - GF approx. 3M and basement approx. 2.1m.
Development:
We are of the opinion that the premises could be re-purposed to provide 2-3 flats, once vacant possession is obtained from the occupational tenants. This may be enabled via Class MA Permitted Development but shall also require planning permission for further alterations. Prospective buyers should seek independent advice and satisfy themselves prior to any purchase.
Accommodation Schedule:
The property offers the following (NIA) approximate dimensions.
Sq Ft Sq M
Floor: Ground Floor: 1614 149.95
Basement: Total: 762 70.80
Total: 2,376 220.75
Tenure:
Freehold, subject to existing long leasehold of the first floor flat and occupational lease of the basement and ground floor.
Tenancies:
Ground Floor, Basement and Rear Yard The commercial unit is subject to a 6 year lease expiring 16th September 2026 let to Believers Home Chapel. The passing rent is £19,200 per annum exclusive with a rent review on the 5th anniversary of the letting.
1st Floor Apartment The residential apartment is subject to a 999 year long lease from 2012 (988 years remaining). Ground Rent £50 per annum doubling every 100 years.
Total income: £19,250 per annum
Terms:
Offers in excess of £400,000. A purchase at this level reflects a very low capital value of £168.35 per Sq Ft when compared to residential resale's which are in excess of £750 per Sq Ft.
AML:
In accordance with Anti-Money Laundering Regulations, we shall require additional information from the purchaser/tenants so that an online verification can be undertaken.
Property information from this agent
About this agent
Willmotts Property Services - Commercial
Willmott House, 12 Blacks Road
Hammersmith
W6 9EU
020 8033 7482At Willmotts we pride ourselves in providing a first class service from start to finish. We have proven over 150 years of being an independent estate agent in West London that honesty and integrity is the key to success. That is why most of our business comes from in house clients and referrals. We are a member of the Guild of Professional Estate Agents, with over 750 offices nationwide and are the No.1 Independent Estate Agency Network so can give your property a huge amount of exposure. We are always looking to help and to go above and beyond to make sure our clients and customer get the service they deserve. We hope that by choosing Willmotts you will have chosen a property company that you want to deal with for the rest of your life. With very experienced and driven staff members, bespoke software, professional photographers, powerful marketing tools, high quality print advertising, subscriptions to all the major portals so we can show your property in the best light. We pride ourselves on being The Complete Property Service and will be able to help with whatever property needs you have. For a friendly chat about how Willmotts can help you or just to find about the market in your area please do not hesitate to contact us.