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London SW17 - Freehold Residential Investment with Development Opportunity

For sale: £550,000.00|560 Sq Ft|Flat, House, Other, Residential, Other Property Types & Opportunities

Property details

FOR SALE£550,000.00
SIZE560 Sq Ft
ADDRESS938 Garratt Lane, London, Greater London, SW17 0ND
TYPEFlat, House, Other, Residential, Other Property Types & Opportunities
TENUREDevelopment Opportunity, For Sale Freehold
POSTED ON17th January 2022

Description

Investment Consideration:
VAT is NOT applicable to this property
Comprises mid-terrace house providing 1 Ground Floor Flat (sold-off) and 1 First Floor Flat with development opportunity
Planning approved for first floor flat extension at rear and above, to provide 3-bedroom maisonette
New boiler has been installed recently.
Located within 0.1 mile from Tooting Broadway Tube station
Occupiers nearby include Sainsburys, Boots Pharmacy, Café Nero, Starbucks, HSBC, Halifax, Poundland and many more.

Property Description:
The property comprises 2-Bedroom Flat at Frist Floor with approved planning for extension at rear and above. Ground Floor Flat has been sold-off on long leasehold.
Flat B provides the following accommodation and dimensions:
First Floor: 52 sq m (560 sq ft)
2 Bedrooms, Living Room, Kitchen, Bathroom/WC

Tenancy:
Flat 938B (First Floor) is at present vacant. Flat 938A (Ground Floor) has been sold-off on long leasehold for a term of 99 years from 12.10.2011 at a ground rent of £150 p.a. Valuable reversion in 2110.

Development Opportunity:
Planning approved in May 2021 for erection of a dormer extension to main rear roof and extension above two storey back addition. Formation of roof terrace above two-storey back addition with 1.8m high screen surround.
The property would provide the following accommodation and dimensions:
First Floor: 3 Bedrooms, Bathroom/WC
Second Floor: Kitchen, Living/Dining Room, Roof Terrace

Location:
Tooting is a district of South London, England, forming part of the London Borough of Wandsworth and partly in the London Borough of Merton. It is located 5 miles (8 kilometres) south south-west of Charing Cross. Tooting is served by Northern Tube Line and National Rail providing a direct link south to Sutton via Wimbledon and north to Farringdon, St Pancras and on to Luton. A large open area, popularly known as the Tooting Commons, lies at walkable distance from the site. The property is located within 0.1 mile from Tooting Broadway Tube station. Occupiers nearby include Sainsburys, Boots Pharmacy, Café Nero, Starbucks, HSBC, Halifax, Poundland and many more.

Location

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Location: 938 Garratt Lane, London, Greater London, SW17 0ND

Tooting Broadway (0.2 miles)

Tooting Bec (0.6 miles)

Colliers Wood (0.8 miles)

Tooting (0.8 miles)

Haydons Road (0.9 miles)

Balham (1.3 miles)

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