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For Sale£925,000.00

1-5 Cumberland Road, London, E13 8LH

Land, Commercial Land
Property type: Land, Commercial Land
Tenure: For Sale Freehold
Price: £925,000.00
Location: 1-5 Cumberland Road, , Plaistow, London, E13 8LH
The property currently comprises a motor vehicle workshop of approximately 266 m / 2,866 sq ft occupied by way of a licence producing £1,750 per calendar month (£21,000 pax). A copy of the license can be made available to interested parties.

DEVELOPMENT
Planning consent was granted under application reference 16/00900/FUL for demolition of the existing vehicle repair workshop and redevelopment of the site to create 3 No terraced houses. The proposed scheme is as follows:

House A 1,243 sq ft (3 bedroom 3 bathroom arranged over basement, ground, first and second floors)
House B 1,206 sq ft (3 bedroom 3 bathroom arranged over basement, ground, first and second floors)
House C 1,206 sq ft *3 bedroom 3 bathroom arranged over basement, ground, first and second floors)

A revised scheme has also been discussed with the Local Planning Authority for enhanced development on site whereby the site is developed into 3 no. basement/lower ground floor, self-contained 1 bedroom flats with 3 no. 3 bed houses over. No application has yet been submitted for this enhanced scheme although the price sought reflects the planning potential of the site.

Site Area

the site has been measured by digital mapping and extends to an area of approximately 410 m / 0.1 acres.

Price

Our clients are seeking offers in excess of £925,000 for the freehold interest in this property with the benefit of current income and planning consent granted.

( Agency Pilot Software Ref: 8903429 )
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