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ref: 24513

Development Opportunity For Sale With Planning Permission

Available
Marketing
Price
£1,700,000 (€1,938,850 approx)
Location
113-121 Portland Road, London, SE25 4UN
Property Type
Development Opportunity
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DESCRIPTION


The site, which is approximately 0.16 acres (0.06 ha) in size, includes a single detached vacant building (No.113-121). The existing building comprises two retail units arranged over ground and basement and four residential apartments on the first floor.


LOCATION


The site is positioned half way along Portland Road, on the eastern side, at its junction with Pembury Road. The site is situated within a predominantly commercial and residential location within South Norwood, approximately 1.5 miles south of Crystal Palace and 1.8 miles north-east of Croydon. It has good links to public transport, being 0.2 miles south-east of Norwood Railway Station. Norwood Junction provides Overground, Thameslink and Southern rail services to London Bridge, London Victoria and London Blackfriars with a fastest journey time of approximately 12 minutes. Portland Road is easily accessible, with buses running within 50 metres of the site. The site is also well-connected to London Gatwick international airport, with a fastest journey time of 24 minutes from Norwood Junction


PLANNING


Planning permission was granted under ref: 16/05299/FUL on 19th October 2018 for the extension of the existing building and construction of 14 apartments – 4 x 1-bedroom flats, 5 x 2-bedroom flats, 5 x 3 bedroom flats with 2 new retail units at ground floor, associated parking and cycle storage.


TENURE


The Property is offered freehold.


TERMS


The property is for sale by private treaty. The Vendor is not obliged to take the highest or any offer. The vendor reserves the right to run an informal tender process should sufficient interest in the Property arise.


VAT


Please note that VAT will be payable on the purchase price at the prevailing rate.


LEGAL COSTS


Each party to bear their own legal costs.


Misrepresentation Act
Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. 22/02/2019

Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is a limited liability partnership registered in England and Wales with registered number OC385143. Our registered office is at 50 George Street, London W1U 7GA.

Copyright (c) 2019 Colliers International Property Consultants Limited. Company registered in England & Wales no. 7996509.
Registered office: 50 George Street, London W1U 7GA  Tel: +44 20 7935 4499