30-34 london road, east grinstead, west sussex...
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www.kingsbury-consultants.co.uk
DEVELOPMENT OPPORTUNITYFOR SALE
30-34 LONDON ROAD, EAST GRINSTEAD, WEST SUSSEX RH19 1AG
SUMMARY• Ground and first floor ancillary areas and airspace above 3 shops
• Planning permission for conversion and extension to create 17 residential apartments totalling 11,738ft2, all for private sale and a new ground floor commercial unit of 1,313ft2
• Sought-after town centre location approximately 0.5 miles from East Grinstead Station
• Offers invited in the region of £750,000 for the freehold interest, subject to the seller retaining the existing retail units and taking a virtual freehold leaseback of the new commercial unit built to shell & core
DESCRIPTIONThe property comprises part of the ground floor and the entire first floor ancillary areas and flat roof above 3 shops (Costa Coffee, Boots and The Edinburgh Woollen Mill).
Access to the upper parts is currently provided via a side entrance on Queens Walk.
LOCATIONThe property occupies a prominent position on London Road, within East Grinstead.
East Grinstead is an affluent Town located in West Sussex approximately 27 miles south of Central London.
The property is located 0.5 miles from East Grinstead train station providing direct National Rail services to Central London, including London Victoria in under 60 minutes.
Ordnance Survey © Crown Copyright 2019. All Rights Reserved.Licence number 100022432Plotted Scale - 1:1250. Paper Size - A4
TENUREThe property will be sold on a freehold, subject to the Seller retaining the all of the ground floor commercial space (existing and proposed) on new 999 year lease.
Indicative Visualisation
www.kingsbury-consultants.co.uk
Jordan Oldfield – 020 7183 2529
Keir Goldstein – 020 7183 2529
CONTACTTo discuss any aspect of this property or the disposal process, please contact the Seller’s sole agents:
TERMSOffers are invited in the region of £750,000 for the freehold interest.
VATWe understand that the property is elected for VAT.
ADDITIONAL INFORMATION
Further information including approved planning documents can be
found in our dataroom using the password ‘Grinstead’.
DEVELOPMENT POTENTIAL The property benefits from planning permission, granted in June 2019 under reference DM/18/2311, for the redevelopment of the property to create 17 residential apartments (7 x 1 bed and 10 x 2 bed units) totalling 11,738ft2 and a new ground floor commercial unit of 1,313ft2.
All units are for private sale, however the planning consent is subject to a Section 106 agreement which obligates for a financial contribution of £50,240 as well as viability reassessment obligations. No CIL liabilities apply.
The new commercial unit is to be created by re-configuring the existing ground floor ancillary space, and this is to be handed back the Seller on a long lease along with the 3 existing shops. The residential units are constructed by way of converting the existing 1st floor space plus extensions.
As per the planning permission, the proposed residential units will be accessed via a new self-contained entrance to the rear of the existing shops at ground floor level.
Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.
Kingsbury1st Floor, 81 Alie Street, London E1 8NH
DEVELOPMENT OPPORTUNITYFOR SALE
PROPOSED ACCOMMODATION SCHEDULE
Unit Floor Description GIA ft2 GIA m2
1 First 2 Bedroom 4 Person Apartment 767 71.3
2 First 2 Bedroom 4 Person Apartment 794 73.8
3 Second 1 Bedroom 2 Person Apartment 539 50.1
4 Second 2 Bedroom 4 Person Apartment 767 71.3
5 Second 2 Bedroom 4 Person Apartment 781 72.6
6 Second 2 Bedroom 4 Person Apartment 771 71.6
7 Second 1 Bedroom 2 Person Apartment 544 50.5
8 Third 1 Bedroom 2 Person Apartment 539 50.1
9 Third 2 Bedroom 4 Person Apartment 767 71.3
10 Third 2 Bedroom 4 Person Apartment 781 72.6
11 Third 2 Bedroom 4 Person Apartment 771 71.6
12 Third 1 Bedroom 2 Person Apartment 544 50.5
13 Fourth 1 Bedroom 2 Person Apartment 539 50.1
14 Fourth 2 Bedroom 4 Person Apartment 767 71.3
15 Fourth 1 Bedroom 2 Person Apartment 656 60.9
16 Fifth 2 Bedroom 4 Person Apartment 803 74.6
17 Fifth 1 Bedroom 2 Person Apartment 606 56.3
Total 11,738 1,090.5
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