Commercial property for sale in London, England

Description:  The existing property comprises 2 x adjoining retail units with upper parts and a rear light industrial / warehouse unit which was previously occupied by the vendor.  There is also a rear car park with up to 8 vehicles with single storey buildings and garages located at the back of the car park which are currently vacant and dilapidated.  The total size of the existing buildings extend to approximately 8,150ft²with the total site area extending to 0.24 acres.  Location  The property is located along the High Street, Hampton Wick, within the London Borough of Richmond upon Thames.  Bushy Park and Hampton Court Palace are located within walking distance of the property, providing 219 acres of public open space.  The nearest station to the property is Hampton Wick which is located 0.2 miles from the property providing frequent services into London Waterloo in 35 minutes.  Planning and Development Potential:  Planning permission was granted (reference 21/0586/FUL) on 9th November 2023 for the demolition of the existing buildings and creation of 8 x residential apartments (5 x 1 bed, 2 x 2 bed and 1 x 3 bed) and 5,807ft² of commercial space.  The planning permission is subject to affordable housing contribution of £85,576 and a CIL payment of £283,529.06.  Now that the principle of redevelopment has been established, the site may offer potential for alternative uses or increasing upon the density of the approved scheme subject to obtaining the necessary consents.  Tenancy:  29 High Street is currently let to Showprint at a passing rent of £15,500pa until 30th June 2029, the lease is subject to a rolling mutual break clause from 1st July 2025 subject to either party serving 9 months written notice.  30 High Street is currently let to Kingston Laser Clinic at a passing rent of £12,000pa until 31st January 2029, the lease is subject to a rolling mutual break clause subject to either party serving 3 months written notice.  Both leases are currently outside the protection of the Landlord and Tenant Act 1954 with the remainder of the buildings being vacant.

Commercial property for sale in London, England

Commercial development for sale

Description

Need Broker Assistance?