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For Sale£2,500,000.00

Residential development opportunity for 14 flats & 2 commercial units

Residential, Retail, House, Residential Land, Retail - High Street, Retail - Out of Town, Land, Commercial Land
Property type: Residential, Retail, House, Residential Land, Retail - High Street, Retail - Out of Town, Land, Commercial Land
Tenure: Development Opportunity, For Sale Freehold
Price: £2,500,000.00
Location: 113-119 Portland Road, London, SE25 4UN
Planning has been granted subject to the signing of a S.106 agreement for the alteration to shopfront, and erection of a ground, first and second floor rear extension with basement to provide 14 flats together with 2 retail units.

The 14 flats will be arranged over ground to second floor and will comprise 4 x 1 bedroom flats, 5 x 2 bedroom flats and 5 x 3 bedroom flats extending to a total residential area of 10,549 sqft NSA.

The proposed scheme will have provisions for 12 parking spaces within the basement extending to 6,490 sqft GIA.

We are aware that the vendor is submitting a further planning application for a mansard roof extension to consist of 4 additional flats extending to 3,369 sqft NSA. The vendor will be looking for an overage payment when planning is received.

We have been advised that there is no affordable housing contribution however an off site payment of approx. £500,000 has been proposed.

Asking: £2,500,000
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