Property for sale
Property description & features
- Tenure: Freehold
- VACANT GF RETAIL 462 SQ M (GROSS) WITH ERV £115,000 PA
- 13 FLATS SOLD OFF - GROUND RENTS PRODUCING £3,250 PA
- 1 BEDROOM AST FLAT PRODUCING £16,200 PA
- PLANNING FOR 3 NEW FLATS (GDV £1.1M)
- 10 SPACE CAR PARK AT REAR
- FREEHOLD
Twickenham is a suburban district in London. It is situated on the River Thames 9.9 miles southwest of Charing Cross. It is part of the London Borough of Richmond upon Thames since 1965, and the borough council's administrative headquarters are located in the area.
Description
A well presented mixed use building on the southern side of Heath Rd and with an extraordinary Gross frontage of 24.2m (79 Ft) and net frontage of 22m (72ft) of the retail space. In addition, there is a small car park to rear which is accessed via an under croft. The first and Second floors of building provide 14 self contained flats of which 13 have been sold off long leases and 1 is retained by the owners and is let on an AST basis. The flat roof has planning for the erection of 3 flats ( 2 x 2Beds & 1 X1Bed).
User
We believe the premises fall under Class E & C3 of The Town and Country Planning (Use Classes) (Amendment) (England) Regulations 2020.
EPC
Energy performance certificate for the vacant ground floor premises has a rating of C(62). A copy of the EPC is available upon request.
Planning
The property benefits from prior approval for Erection of a roof extension comprising an additional storey (providing 3 additional residential units) to the existing mixed-use, 3 storey terraced building along with the provision of a green roof, refuse and recycling storage and cycle parking associated with those new residential units. Further information can be obtained via L B Richmond under planning application 22/2994/GPH03. L B Richmond [use Contact Agent Button].
The Gross Development Value of the project is approx. £1,100,000.
Asset Management
Let the ground floor vacant premises as a whole unit or alternatively look to split the unit to form 2 retail units.
Repurpose the ground floor with planning for C3 residential use (STPP).
Develop the air space and sell off the flats
Sell off the AST flat
Lease the car park spaces
Accommodation Schedule
The property offers the following approximate dimensions:
LocationSq FtSq M
Ground Floor Retail4,972462.00Flat 6 FF32730.40
Terms
Offers in excess of £1,800,000 are invited for the freehold interest.
VAT
The property has not been elected for VAT purposes.
Legal
Each party to bear its own legal costs.
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
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Energy Performance data and Internal floor area
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