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Plot for sale
53 Central Road, Worcester Park, Surrey KT4
£1,150,000
53 Central Road, Worcester Park, Surrey KT4
£1,150,000
Our Summary
- For Sale by Auction unless sold prior Mixed use investment / development opportunity, planning granted with scope to enhance STP
- Description - Mixed use investment / development opportunity for sale
- Planning has been granted for a new build scheme on the yard and further potential exists to extend the existing building STPLocation - The property is situated on Central Road which is an arterial route running through the centre of Worcester Park and benefits from good communication links by road, rail and bus services
- 2 sqm Duplex 2: Two bedroom 84 sqmIncome & Tenancies - Ground floor retail let on a short terms lease (INFO TO FOLLOW) with a passing rent of £24,000 pa - ERV £35 - £40,000 pa53a First floor flat let on an AST currently holding over with a passing rent of £10,200 pa - ERV £15,000 pa53b First floor flat let on an AST currently holding over with a passing rent of £11,400 pa - ERV £17,400 paPlanning - Planning granted for erection of two storey building providing a link to the front of the existing building to comprise 2 new residential units, retention of existing ground floor commercial unit, provision of car parking, cycle stores, refuse stores, external access stairs and landscaping
- Further information including plans can be found in our data roomTerms - For Sale in the upcoming Savills auction 11th December (Lot 565) unless sold prior Guide Price £1,150,000Data Room - Available on our website Access code: central1Viewing - By appointment only contact sole agentsChristopher St James
Description
This is a mixed-use investment and development opportunity for sale in Worcester Park, Surrey. The property is a two-storey corner building with a ground-floor retail unit and two self-contained flats on the first floor. Planning permission has been granted to build a new scheme on the yard and extend the existing building. The property benefits from a prime location on Central Road, with good communication links and a mix of nearby businesses and services. The ground-floor shop is let on a short-term lease with a passing rent of £24,000 per annum, while the two first-floor flats are let on assured shorthold tenancies. The property has the potential for further development, with planning permission granted for two new residential units and a link to the front of the existing building. The guide price for the property is £1,150,000, and it is being sold by auction unless sold prior.