Bridge Street, Leatherhead, Surrey KT22

DESCRIPTION:

The existing property comprises a vacant 2-storey (plus basement) commercial building fronting Bridge Street extending to approximately 1,050ft² with rear car park situated on a site area of 0.16 acres.

The ground floor retail unit was formerly used as an estate agents with the first floors consisting of offices. The rear car park is accessed via an undercroft directly from Bridge Street.

LOCATION:

The property is located along Bridge Street in the town of Leatherhead, Surrey.

The immediate area comprises of a mixture of commercial and residential uses with local amenities such as shops, restaurants and bars, located along Bridge Street and the High Street, which is less than 0.1 miles from the property.

Leatherhead station is 0.4 miles (circa 8 min walk) from the property and currently provides Southern and South Western railway services to London Waterloo and London Victoria in approximately 45 minutes.

PLANNING & DEVELOPMENT POTENTIAL:

Planning permission was granted 4th April 2024 (reference: MO/2023/1592/PLA) for the alterations to the ground floor and retention of the commercial unit, conversion of first floor to residential and erection of a four storey rear extension to create 5 x residential flats.

The proposed development will comprise 2 x 1 bed and 3 x 2 bed units totalling 3,501ft² and a commercial unit of 1,253ft² across basement and ground floor. All of the units are for private sale and no Section 106 obligations apply. The planning consent is subject to a CIL liability of circa £59,850. Please note that this is an indexed estimate as of April 2024 and should not be relied upon, any prospective purchasers should undertake their own analysis.

The rear car park offers potential for redevelopment to residential with drawings prepared to show the potential for a 4-storey building comprising 4 residential units (2 x 1 bed flat and 2 x 3 bed flat) totalling 2,542ft².

TENURE:

The property is being sold freehold.

VAT:

We understand the property is not elected for VAT.

TERMS:

Offers invited in the region of £750,000 for the freehold interest.