Commercial Property for sale

DESCRIPTION
Located on the corner of Merton High Street and Norman Road, Colliers Wood, this mix-use site is available for sale freehold for offers in excess of £1,000,000. The Merton Savacentre, Merton Abbey Mills and Colliers Wood on the Northere Line are all a very short walk away.

The site comprises a 3-bedroom house with access from the pedestrianised section of Normon Road, a commercial unit (around 430ft²/40m²) on Merton High Street with a 4-bedroom maisonette above spread over the first and second floor (roof space) and a garage to the rear of the commercial unit which is accessed via Normon Road from regular road access.

The 3-bedroom flat on Normon Road is currently let on a 12 month AST (commenced 13th November 2011) which is rolling over with 2 months notice to quit required for possession, producing a rental income of £1,650 pcm (£19,800).

The 4-bedroom maisonette on Merton High Street is currently let on a 12 month AST (commenced 2nd October 2010) which is rolling over with 2 months notice to quit required for possession, producing a rental income of £1,300 pcm (£15,600).

The ground floor shop used as offices, which will be vacant on possession, has an estimated rental income of £9,000 per annum.

Due to the nature of the corner plot the site lends itself to a variety of re-development opportunities, subject to obtaining the necessary planning permission from Merton Council.

Two adjacent freehold units along the same parade containing two ground floor shops and two 1-bedroom flats above, successfully applied for conversion of the properties to comprise two ground floor shops, 2 ground floor 1bedroom flats and a further 6 x 1-bedroom flats above (05/P1220).

All enquiries welcome.