Unbroken Mixed-Use Parade with Development Potential For Sale

Melbourne Grove, East Dulwich, London SE22

£1,600,000

Download PDF

Description

Opportunity to purchase a mixed-use investment opportunity in a desirable East Dulwich location. The property currently consists of 3 x ground floor commercial units and 2 x 2 bed flats on the first floor. The 2 flats are fully let on AST’s and the 3 commercial units are let to a pharmacy (Sui Generis), a nail salon (Sui Generis) and a restaurant (A3). The property produces a combined income of £88,393 per annum.

The 2 x existing flats gained planning permission in 2010 and may provide an opportunity for another storey of residential development above given the flat roof and precedent set for height along the road. 

Location

1-6 Melbourne Terrace, Melbourne Grove, East Dulwich, London SE22 8RE

East Dulwich Station is located 350ft away and has a travel time of 27 minutes to London Bridge Station making it the ideal location for young professionals commuting into Central London.

There is a small Marks & Spencer 0.1 miles away and a large Sainsbury’s supermarket within 0.3 miles. Grove Vale runs perpendicular to Melbourne Grove and plays host to a number of local shops, pubs and restaurants. Dulwich Hamlet Football Club is located 0.4 miles away and sits next to St. Francis Park & Greendale playing fields which both provide open green space on the property’s doorstep.

Planning History

REF 10/AP/0783: Erection of additional floor to building to provide two flats (use class C3) together with us of part of ground floor shop unit to provide access.

Accommodation

UNIT SIZE (SQFT) INCOME (£) PA
2 Bedroom Flat 597 17,400
2 Bedroom Flat 580 17,368
1-3 Melbourne Terrace (Commercial) 604 24,625
4 Melbourne Terrace (Commercial) 199 10,000
5-6 Melbourne Terrace (Commercial) 469 19,000
TOTAL 2,449 £88,393

Plans