East Street, Epsom

A rare opportunity to acquire a consented residential development opportunity in central Epsom, together with the Freehold interest of 83 & 85 East Street in its entirety, including approximately £8,000 per annum in ground rent income from the existing 32 apartments and an interest in an area of the rear car park.

Planning permission has already been granted for the creation of three new apartments above the existing building, providing an attractive opportunity for a developer or investor to add significant new residential accommodation without the requirement for additional development land.

The approved scheme provides for the addition of a new rooftop floor containing a well-balanced mix of one one bedroom, one two bedroom and one three bedroom apartment, extending to approximately 209.8 sq m in total.

Designed to sit entirely above the existing four-storey building, the development makes intelligent use of the existing flat roof. The proposed apartments are generously proportioned, with the one bedroom home extending to approximately 53.1 sq m, the two-bedroom apartment to 64.0 sq m and the impressive three-bedroom apartment to approximately 92.7 sq m. Each apartment exceeds the relevant national minimum space standard and benefits from its own private balcony.

The configuration creates an interesting opportunity for a range of purchasers. For an investor or developer, the scheme could provide an ideal build to let opportunity, creating three new rental homes in one location whilst also acquiring the underlying Freehold interest and associated ground rent income.

Equally, the arrangement of three adjoining apartments on a self contained floor could appeal to purchasers looking to create a unique multi generational living solution, enabling three generations of the same family to live independently whilst remaining together in one location.

The elevated position is another major feature of the scheme. Sitting above the existing building, the new apartments have been designed to take advantage of far reaching views across Epsom and towards the London skyline, creating an attractive point of difference for the eventual finished homes. With planning already secured, this represents an increasingly rare opportunity for a developer to progress towards delivery rather than taking on the uncertainty and timescales associated with promoting an entirely new scheme through the planning process.

Located in central Epsom, the development is exceptionally well placed for the town centre, railway station and the extensive range of shops, restaurants, cafés and amenities for which the area is known.

Planning permission was granted on 26 June 2024 under reference 22/01954/FUL, giving a purchaser until June 2027 to implement the consent, subject to the terms and conditions of the approval. Permission is subject to conditions and a Section 106 agreement, and interested parties should satisfy themselves as to the planning position, implementation requirements, measurements, title, Freehold interest, ground rent income and all other relevant matters through their own professional advisers.

Please note: CGI images and external photomontages used within the marketing are indicative and provided for illustrative purposes only. They are intended to demonstrate the general appearance and potential of the proposed development and may not correspond precisely with the approved planning drawings.

Further information, including the approved drawings and planning documentation, is available through The Personal Agent's Epsom office.