Development Properties: 24 Gladstone Road, Wimbledon SW19 1QT

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24 Gladstone Road, Wimbledon SW19 1QT

Guide Price £1,100,000 - Freehold

• Located in the heart of Wimbledon, just 0.3 miles from Wimbledon Station (located on the District Line and National Rail).

• Existing freehold building, currently arranged as a vacant D1 facility on the ground floor and a first floor one bedroom apartment.

• The D1 premises comprises 1,854 sq ft, the flat measures 573 sq ft and benefits from an unconverted loft space.

• A planning application has been submitted for the conversion of the existing loft space to create a 2 bedroom duplex apartment measuring, 718 sq ft. The precedent for the loft conversion has already been set amongst many of the neighbouring buildings.

• There is further potential to convert the front section of the D1 premises into either a 1 bedroom (553 sq ft) or a studio apartment (390 sq ft), subject to the necessary consents.

• In addition, there may be the possibility of converting the basement into residential use and creating a 3 bedroom duplex apartment (850 sq ft) over ground and basement levels, subject to the usual consents.

• Proposed plans for all of the aforementioned options are available upon request.

• Estimated rental value of the commercial premises in the region of £65,000 per annum (£35 per sq ft).

• There is also the potential to add a mezzanine level to the rear of the D1 facility which may enhance the rental value and increase the size of the commercial element.

• We understand that the property is not elected for VAT.

• Guide price - £1,100,000 (One million, one hundred thousand pounds) reflecting a low capital value of £453 per sq ft.