An opportunity to purchase a consented basement development in a prominent location.
The freehold opportunity comprises basement space which is part of a three- storey Victorian building based on a quiet, residential street. The upper floors comprise of 6 flats which were all sold on long leases. The freehold collects £100 per annum in ground rent from one of the flats, while the rest of the flats are on a peppercorn rent. The lower ground floor was formerly the building’s cellar and has been redundant for a number of years. The total size of the lower ground measures approximately 125.2 sqm and current access is via an external trap door along the building’s northeast flank elevation. The building is locally listed and sits within a conversation area.
We consider the site to appeal to local developers and investors alike. Offers in the excess of £150,000 are invited.
39 Harold Road, Upper Norwood, London SE19 3PL
The property is situated on a quiet residential street with offers excellent amenities. Crystal Palace High Street is only 0.4 miles away. The A23 sits on the western part of the property, which offers a quick commute to Central London within 40 minutes.
Crystal Palace Station is 0.9 miles away and can provide access to Victoria in 28 minutes. Penge West Station sits 1.5 miles away which provides regular trains to Highbury & Islington (Via Shoreditch) in less than 40 minutes.
In March 2021 (16/05178/FUL) planning permission was approved for alterations and use of the basement as 2 studio units; creation of light wells and provision of associated railings; provision of associated refuse and bicycle storage.