Mixed-use building for sale in Kingston upon Thames

This property is marketed by:
Whozoo

Key Features

• Freehold mixed-use building with retail and residential components
• Prime central Kingston location, 5 minutes from the shopping centre
• Partly let, generating £65,400 p.a., with ERV of £110,000 p.a.
• Planning application submitted to convert upper parts into 5 flats (Ref: 24/00605/FUL)
• Excellent value-add and development potential with GDV estimated at £1.5M
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Freehold mixed-use property in the heart of Kingston- upon-Thames, 5 minutes walk from the shopping centre.

The property comprises a ground floor retail unit with a 3 x flats above. The property is partly tenanted with an income of £65,400 per annum. The ground floor retail unit is currently vacant and the flats require modernisation.

The property presents itself as a great value add opportunity with an estimated rental value of £112,000 per annum and GDV of £1,500,000

There is an application that has recently been refused for the conversion of the existing flats to create 5 x flats and retain the commercial (Planning Reference: 24/00605/FUL).

The property has clear development potential for an additional storey and extension to the rear.