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Mixed use building with development potential for sale in Twickenham

17 Heath Road, Twickenham, TW1 4AW
For sale
£1,800,000 Offers In Excess Of
willmotts-chartered-surveyors
This property is marketed by:
Willmotts Chartered Surveyors

Key Features

  • VACANT GF RETAIL 462 SQ M (GROSS) WITH ERV £115,000 PA
  • 13 FLATS SOLD OFF - GROUND RENTS PRODUCING £3,250 PA
  • 1 BEDROOM AST FLAT PRODUCING £16,200 PA
  • PLANNING FOR 3 NEW FLATS (GDV £1.1M)
  • 10 SPACE CAR PARK AT REAR
  • FREEHOLD

Location

Twickenham is a suburban district in London. It is situated on the River Thames 9.9 miles southwest of Charing Cross. It is part of the London Borough of Richmond upon Thames since 1965, and the borough council's administrative headquarters are located in the area.

Description

A well presented mixed use building on the southern side of Heath Rd and with an extraordinary Gross frontage of 24.2m (79 Ft) and net frontage of 22m (72ft) of the retail space. In addition, there is a small car park to rear which is accessed via an under croft. The first and Second floors of building provide 14 self contained flats of which 13 have been sold off long leases and 1 is retained by the owners and is let on an AST basis. The flat roof has planning for the erection of 3 flats ( 2 x 2Beds & 1 X1Bed).

User

We believe the premises fall under Class E & C3 of The Town and Country Planning (Use Classes) (Amendment) (England) Regulations 2020.

EPC

Energy performance certificate for the vacant ground floor premises has a rating of C(62). A copy of the EPC is available upon request.

Planning

The property benefits from prior approval for Erection of a roof extension comprising an additional storey (providing 3 additional residential units) to the existing mixed-use, 3 storey terraced building along with the provision of a green roof, refuse and recycling storage and cycle parking associated with those new residential units. Further information can be obtained via L B Richmond under planning application 22/2994/GPH03. L B Richmond Tel: 020 8891 1411.

The Gross Development Value of the project is approx. £1,100,000.

Asset Management

Let the ground floor vacant premises as a whole unit or alternatively look to split the unit to form 2 retail units.

Repurpose the ground floor with planning for C3 residential use (STPP).

Develop the air space and sell off the flats

Sell off the AST flat

Lease the car park spaces

Accommodation Schedule

The property offers the following approximate dimensions

Ground Floor Retail - Sq.Ft 4,972 Sq.M 462.00

Flat 6 FF - Sq.Ft 327 Sq.M 30.40

Terms

Offers in excess of £1,800,000 are invited for the freehold interest.

VAT

The property has not been elected for VAT purposes.

Legal

Each party to bear its own legal costs.

AML

In accordance with Anti-Money Laundering Regulations, we shall require additional information from the purchaser/tenants so that an online verification can be undertaken.