250-256 Blackfen Road, Sidcup, Kent, DA15

Investment Consideration:
GDV for conversion of 6 flats is circa £1.25m
VAT is NOT applicable to this property
Comprises large two-storey vacant retail with prior approval granted for conversion to 6 self-contained flats (C3)
Additional development potential through planning enhancement and extend above (airspace/infill) to increase GDV, subject to obtaining full planning
The property also includes 5 retail units, 3 flats and 1 workshop which have been sold-off on long leaseholds
Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.

Property Description:
Comprises large two-storey vacant retail with prior approval granted for conversion to 6 self-contained flats (C3). The property benefits from large gated courtyard and further development potential STTP. The freehold includes additional 5 retail units, 3 flats and 1 workshop which have been sold-off on long leaseholds.
Ground/First Floor Vacant Retail: 278 sq m (3,000 sq ft)
Ground Floor: 185 sq m (2,000 sq ft)
First Floor: 93 sq m (1,000 sq ft)

Ground Floor 5 Retail Shops: Sold-off
Rear Ground Floor Workshop: Sold-off
First Floor 3 Residential Flats: Sold-off

Tenancy:
The vacant retail at rear ground and first floor is at present vacant. ERV: £55,000 p.a.
The 5 ground floor shops, 3 first floor flats fronting Blackfen Road and workshop at rear yard have been sold-off on long leaseholds at a ground rent of peppercorn.

Development Opportunity:
Prior approval granted for conversion of rear ground and first floor vacant retail into 6 self-contained residential flats. GDV for conversion of 6 flats is circa £1.25m, providing the following accommodation and dimensions:

Approved Ground Floor: 183 sq m (1,968 sq ft)
Flat 1: 42 sq m (452 sq ft)
Open plan studio, bed space, shower
Flat 2: 40 sq m (430 sq ft)
Open plan studio, bed space, shower
Flat 3: 40 sq m (430 sq ft)
Open plan studio, bed space, shower
Flat 4: 61 sq m (656 sq ft)
2 Bedrooms, kitchen/living room, shower

Approved First Floor/Mezzanine: 125 sq m (1,345 sq ft)
Flat 5: 62 sq m (667 sq ft)
1 Bedroom, kitchen/living Room, study, store, bathroom
Flat 6: 63 sq m (678 sq ft)
1 Bedroom, kitchen/living Room, study, store, bathroom
Total approved GIA: 308 sq m (3,313)

*Additional development potential through planning enhancement and extend above (airspace/infill) to increase GDV, subject to obtaining full planning

Location:
Sidcup is an area of south-east London, England, primarily in the London Borough of Bexley. It is 11.3 miles south-east of Charing Cross, bordering the London Boroughs of Bromley and Greenwich. Sidcup Train Station provides the area with South-eastern services to London Charing Cross, London Cannon Street via Lewisham, Woolwich Arsenal, Dartford and Gravesend. East Rochester Way on the A2 road runs partly through the district, adjoining Blackfen Road. The road provides links to the Blackwall Tunnel and Kent. Situated on an established parade amongst the local shops and amenities of Blackfen Road. Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.