An opportunity to purchase a freehold mixed-use property in a prominent location in the London Borough of Lambeth.
The property is a three-storey building which comprises a vacant ground floor shop and 2 bedroom flat. The 2-bedroom flat is spread across the first and second floors which measure approximately 602ft². The commercial premises measures approximately 631ft² and has the designated Use Class E (Commercial, Business and Services).
The flat is rented on a traditional Assured Shorthold Tenancy for £15,600 per annum. The flat has its own private entrance, accessible from Norwood High Street.
In October 2020 (20/03661/FUL) planning permission was refused for the conversion and change of use of the ground floor unit from retail (Use Class A1) into a 2-bedroom residential (Use Class C3). We consider the site to have long term residential redevelopment potential or a change of use to be feasible subject to planning permission. We encourage all interested parties to conduct their own research on the feasibility of the site.
Unconditional offers in the excess of £425,000 are invited. Offers for the commercial unit only are also welcome.
108 Norwood High Street, West Norwood SE27 9NH
The property is situated on a busy high street, with various shops and takeaways. Crystal Palace is only 1.3 miles away while Brixton is under a 15-minute commute away via A204. The A205 runs on the northern part of the site, which connects Battersea to Woolwich. The A203 sits on the western part of the property, which offers a quick commute to Central London within 30 minutes.
West Norwood Station is 0.6 miles away and can provide access to Victoria and London Bridge in 30 minutes. 1.2 miles away from the property, sits West Dulwich Station. This station provides regular trains to Blackfriars and London Victoria in less than 20 minutes.
In October 2020 (20/03661/FUL) planning permission was refused for the conversion and change of use of the ground floor unit from retail (Use Class A1) to 2-bedroom residential (Use Class C3).