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COMMERCIAL

Wellmeadow Road, London, SE6

Offers in Excess of
£1,100,000
Acorn New Homes, Land & New Homes
PROPERTY TYPE

Commercial Property

SIZE

1,807 sq ft

168 sq m

Key features

  • Substantial mixed-use freehold for sale in Hither Green
  • Main building has planning consent for 3 spacious flats (1 flat already complete)
  • Rear building is a modern class E unit measuring 1,807 sqft
  • Low residential conversion costs for main building
  • ERV £95,400 pa (7.3% gross yield on total estimated investment)
  • Offered with full vacant possession
  • OIEO £1.1m

Description

We are pleased to offer this freehold mixed-use property in Hither Green for sale.

Main Building
A triple fronted Victorian building fronting Wellmeadow Road measuring c.3,094 sqft internally. This main building is currently owner occupied as a creative arts school on the ground floor (planning class E) and management accommodation (planning class C3) on the first floor.

Rear Building
To the rear of the main building is a detached single storey commercial property (planning class E), constructed in 2010.Measuring c.1,807sqft, the rear building is currently owner-operated as a dance studio and associated facilities.

The entire property, that has been owner operated as 'The London Stage School' for nearly half a century, benefits from a large garden to the rear (between the 2 buildings) and off street/ample free parking at the front of the main building. Planning permission was recently obtained to convert the main building into 3 x spacious flats (planning class C3) through internal re-configuration . Costs for this residential conversion are significantly reduced as the layout and amenities of one of the flats is
virtually complete. The property therefore presents opportunity to an investor to convert the main building into full residential to retain on a rental basis whilst retaining the existing commercial building to the rear that due to its layout would be of appeal to be leased by indoor sports operators, day nursery, creative arts studio etc.

Brochures

Brochure 1

Wellmeadow Road, London, SE6

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Hither Green Station0.8 miles
  • Lee Station0.8 miles
  • Bellingham Station1.1 miles

About the agent

Acorn New Homes, Land & New Homes

9 St. Marks Road Bromley BR2 9HG

Acorn New Homes, Land & New Homes

Established in 1984 as a single, independent estate agency, The Acorn Group, which incorporates Acorn, Langford Russell and John Payne, now spans 40 offices throughout South London, Kent, and Medway. Our highly skilled team is dedicated to providing tailored services to all our clients. We cover a comprehensive range of property services including financial services, chartered surveyors, property management, lease extensions and more.

More properties from this agent

Industry affiliations

National Association of Estate AgentsOmbudsman for REsale Estate Agents (no OFT logo)Association of Residential Letting Agents

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 31177. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Acorn New Homes, Land & New Homes. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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