Land for sale in Central Road, Morden SM4

Residenza are proud to offer to the market this mix-use development opportunity with planning granted (Subject to Section 106) to provide 2 X 1-bed flats and 1 X 2-bed flat and 1 x 1 bed house on Central Road, SM4.

Postcode: SM4 5RP
Size: 2719 Sq/Ft
EPC: To follow

50A Central Road (3 Bedroom Flat):
- Rental Income: £1,700.00 P/M (£20,400 per annum)
- Tenancy Started: September 2020 (Rolling Contract)

50 Central Road (Shop):
- Rental Income: £1,150.00 P/M (£13,800 per annum)
- Lease Started: March 2018 (15 years, thus having 10 years unexpired)

50 Central Road (Garage & Land):
- Rental Income: £650.00 P/M (£7,800 per annum)
- Licence Started: Dec 2021 (5 years, thus having 3 year unexpired, either party can serve three months" notice to vacate)

Current Total Rent Reserved: £3,500.00 P/M (Gross) = £42,000.00 P/A
gdv: £1,500,000

Planning Permission:
Demolition of rear extensions and construction of part two part single storey rear extensions, HIP to gable and rear dormer roof extensions with rear and front roof lights to facilitate the part change of use of take away and workshop to C3 (residential) use to provide 4 self-contained flats (2 X 1-bed flats and 1 X 2-bed flat and 1 x 1 bed house) with associated refuse and cycle storage. Replacement of ventilation system.

Buyers Fee of 2.0% Applicable