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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, comprises a mixed-use commercial development with planning consent to convert the upper floors into three residential dwellings. The property is fully let to various tenants, including a café, estate agents, and beauty salon, with a total internal area of 5,478 sq ft. The EPC ratings range from D to E, and the rateable values range from £7,700 to £18,000. The freehold interest is being offered for sale at a guide price of £900,000, reflecting a low capital value of £164 psf and a gross yield of 7.3%. The sale includes the existing commercial leases and implemented planning consent, subject to contract and exclusive of VAT.