Map
Please note: Locations and addresses are approximate and may not be as accurate as expected.
Details
An opportunity to acquire a freehold development site of 0.75 acres (0.3 hectares) adjacent to Sidcup Station.
The existing property occupying the site comprises of a Co-op food store
with vacant offices above and associated parking to rear. Co-op currently
occupy their element of existing property at a rent of £164,000pa. They or
the landlord can terminate the lease by providing 3 months’ notice. The site
will be sold with Co-op in occupation, therefore there is short term income
until the buyer requires vacant possession to start construction.
Planning
Application reference: 18/01214/FULM
Planning status: Detailed Planning Permission
Application details:
The site has full planning permission granted by Bexley Council under reference 18/01214/FULM for the ‘demolition of existing buildings and erection of a part 3, part 8, part 9, storey building, to provide retail (Class A1) at ground floor with 59 residential units above, comprising 1 studio flat, 26 one bed, 24 two bed and 8 three bed flats together with associated landscaping, parking and access improvements’
Marks and Spencer P.L.C have agreed to enter into a new straight 20 year FRI lease with no breaks, and at an initial rent of £365,000pa over the new ground floor retail space of 11,549sqft and 38 car parking spaces. .