Mixed use investment property for sale in Sutton

This property is marketed by:
Bonsors

The property comprises a period, three-storey street-facing, mid-terrace building, arranged as a ground-floor banking unit with ancillary accommodation towards the front at first and second floors, all occupied by Lloyds. It is held under one title, with the land extending across the part of the roadway immediately to the rear. The adjoining building, 49 High Street, is separately owned and is also leased, on a separate lease, by Lloyds. A key resultant feature is the open plan retail space, produced by the bank opening up the wall between 49 and 51-53 High Street, an alteration that is subject to reinstatement provisions. There is a right of way over the roadway at the rear for people and vehicles, that allows access from and to Hill Road, a public road (and is thus a right of way contiguous to an adopted highway).

Key Features

• Greater London freehold with extensive development potential
• Prime, pedestrianised, High Street location
• Potential for residential conversion and new build, retaining retail
• Seven flat development concept
• Lloyds Bank PLC covenant on recently renewed lease, securing £83,500 pax rent until March 2028
• Lloyds has had a tenancy since 1987
• 51 and 53 High Street is under a single title, let on a single FRI lease
• Potential to reconfigure to self-contained ground floor commercial

LOCATION

The building is situated in the centre of the London Borough of Sutton, in the Conservation Area at Sutton Town Centre High Street Crossroads. The High Street is pedestrianised and forms the primary retail pitch in the town. Sutton is a popular town and retail centre located 11 miles south west of Central London, 4 miles west of Croydon and 4 miles north east of Epsom. Sutton lies between Gatwick and Heathrow. The M25 (Junction 7) is 6 miles away and the A3 is 4 miles away providing links to Central London. Sutton Rail Station is 130 metres from the property and provides regular services to London Victoria (from 31 minutes) and London Bridge (from 32 minutes). The property is beside main bus routes, including Greater London Superloop. The property is situated in the pedestrianised town centre on the west side of the High Street, close to the crossroads with the A232/Carshalton Road.