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Land for sale
London Street, Andover, Hampshire, SP10
£900,000
London Street, Andover, Hampshire, SP10
£900,000
Our Summary
- Planning consent was successfully obtained in 2014 (see application reference 14/00633/FULLN on Test Valley Borough Council website) to permit the upper floors conversion of 17-21 London Street to create three individual residential dwellings
- A Certificate of Lawfulness for Existing Development was granted on 13th November 2023 confirming that the planning permission has been implemented
- It is felt that all of the buildings may lend themselves to future residential redevelopment, subject to securing any necessary consents along with the expiration of existing leases
Description
The property, located on London Street in Andover, is a mixed-use commercial development with a total internal area of 5,478 Sq. Ft. The property is fully let and income-producing, with tenants including a café, estate agents, and beauty salons. Planning consent was granted in 2014 to convert the upper floors into residential dwellings, and a Certificate of Lawfulness was granted in 2023 confirming the implementation of the permission. The property is being sold as a freehold interest, with a guide price of £900,000, reflecting a low capital value of £164 psf and a gross yield of 7.3%. The property is located in the heart of Andover, with nearby businesses including a pub, estate agents, and retail stores.