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For SalePOA

Mixed Use Redevelopment/Investment in E14 Freehold For Sale

Residential, Mixed Use, Other, Office, Other Property Types & Opportunities, Offices , 2441 - 3376 Sq Ft
Property type: Residential, Mixed Use, Other, Office, Other Property Types & Opportunities, Offices
Tenure: Development Opportunity, Investment Opportunity, For Sale Freehold
Size: 2441 - 3376 Sq Ft
Price: POA
Location: 3 Manchester Road, E14 3BD
Location
The property occupies a prominent main road location on the northern side of Manchester Road within a predominately residential area. Mudchute DLR lies within easy walking distance and London City Airport is just over 4 miles away. The National Motorway system is accessible via the A261 which is only 2.5 miles from the property.

The property
An end terrace property of brickwork construction beneath a pitched tiled roof to the front and flat roof to rear. Currently arranged to provide a double fronted shop leading to further showroom/storage to the rear. A separate entrance leads to the first floor, which, currently provides a one bedroom flat with living room, kitchen, bathroom and small store. We note that flat produces £1150 pcm but has not been relisted as a flat since it was previously in office use.

Planning
Planning consent has been secured under reference PA/16/03515 for the conversion of the existing flat to a two bedroom property and new build two bedroom flat at second floor. Copy plans are attached or available for viewing at the Tower Hamlets planning portal.

Accommodation
The approximate gross internal floor area is as follows:
Grnd floor commercial 1,848 sq ft (171sq m)
First floor flat 593 sq ft 55 sq m
Total 2,441 sq ft 227 sq m

We note that the conversion and new build consent provides approximately 1528 sq ft (142 sq m) of residential accommodation at 1st and 2nd floor level.

Services
Mains gas, electricity, water and drainage are connected.

Title Report/searches
A report on Title and searches will be made available to named parties.

Proposal
The freehold is being offered for sale. It is our Client’s preference to lease back a small part of the ground floor (approx 600 sq ft) at £20,000 pax. Alternatively, full vacant possession can be provided.

Price on Application

Rates
The current rateable value is £29,250.

EPC/Asbestos survey
The EPC of the ground floor is D76 and D63 in relation to the first floor. According to the report obtained, the property does not contain asbestos.

Viewing
Strictly by prior appointment only with the Vendor’s agent.

Legal costs
Each party is to be responsible for the payment of its own legal costs.

Enquiries
For further assistance, please contact sole selling agents Branch Associates on 01708 860696 / 07775 804842 or email: jb@branchassociates.co.uk
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