Plot for sale

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Plot for sale

London Road, Mitcham CR4
£1,000,000

Our Summary

  • Freehold investment / development opportunity for sale
  • Investment / development opportunity
  • Subject to the relevant consents it is felt the site would lend itself to a mixed use or residential development
  • Scope also exists for extension / refurbishment works to increase the rental income
  • Please be advised that subject to planning offers are not being considered

Description

This is a freehold investment/development opportunity for sale. The property consists of industrial units, office space, and a hard standing area. It is located 0.5 miles from Tooting Rail Station. The property is on a single title with two separate detached buildings. One of the buildings is leased as a car repair/mot station until 2027, and the other building has office space leased on short-term agreements. The plot size is 0.121 acres and is classified as Use Class E. It is not a listed building and is not in a flood zone. The local authority is Merton. The property is located on the A217 London Road at its junction with Dennis Reeves Close. The nearest stations are Tooting British Rail Station and Colliers Wood Underground Station. The current rental income is £60,000 per annum, with a lease for the car repair/mot station and short-term license agreements for the office space. The property has potential for mixed-use or residential development, subject to planning consents. The guide price for the freehold is £1,000,000. Viewings are strictly by appointment only, as there are running businesses occupying the property. Interested parties should not approach the staff directly.
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