Residential Development Opportunity - Stiles Harold Williams
Residential Development Opportunity - Stiles Harold Williams
Residential Development Opportunity - Stiles Harold Williams
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<strong>Residential</strong> <strong>Development</strong> <strong>Opportunity</strong><br />
On Instruction of Joint LPA Receivers J. Dickman and S. Ray<br />
375-401 Brighton Road, South Croydon CR2 6ES<br />
OUTH CROYDON
375-401 Over Brighton Road, South Croydon CR2 6ES<br />
Location<br />
The development site is situated<br />
along Brighton Road (A235) in<br />
South Croydon just to the north<br />
east of Purley Oaks.<br />
It is approximately 2 miles to the<br />
south of Croydon town centre and<br />
a mile to the north of Purley.<br />
The area is served by excellent<br />
transport connections; including,<br />
Purely Oaks and Sanderstead<br />
railway stations, which are within<br />
0.25 and 0.75 miles, respectively.<br />
The location map above has been produced using Promap
375-401 Over Brighton Road, South Croydon CR2 6ES<br />
The site is located within the London Borough of Croydon, and the Croydon<br />
Unitary <strong>Development</strong> Plan adopted in July 2006 sets out the current ‘saved’<br />
policies for the area.<br />
We further understand that no Tree Preservation Orders relate to the site and<br />
that it is within an Archaeological Priority Zone.<br />
The OS above has been produced using Promap
375-401 Over Brighton Road, South Croydon CR2 6ES<br />
Images created by FALLA<br />
The Site<br />
Description<br />
The property was most recently used as a car<br />
dealership, comprising a showroom, forecourt,<br />
associated workshops and multi-storey car<br />
park; the site extends to 0.58 ha (1.43 acres).<br />
The main showroom is set back from the<br />
Brighton Road providing a forecourt area to the<br />
front and workshops to the rear with ancillary<br />
storage and office accommodation. Towards the<br />
front of the site, a former petrol filing station<br />
provides a canopied forecourt and further office<br />
space. To the rear of the site is a multi-storey<br />
car park arranged over 10 stories providing<br />
approximately 230 car parking spaces.<br />
Tenants<br />
Two masts are currently leased to Orange and<br />
O2 generating £9,951pa and £7,642pa,<br />
respectively (excl. VAT). The tenants are<br />
holding over.<br />
The existing site is going to be temporarily let in<br />
parts on a minimum 3 year term with breaks<br />
every 6 months from the third year.<br />
Potential<br />
The site is ideally located for a residential<br />
development scheme providing for both houses<br />
and flats.<br />
There is an opportunity for a developer to agree<br />
a joint venture (JV) deal and pursue a more<br />
economic development scheme.<br />
Images created by FALLA
375-401 Over Brighton Road, South Croydon CR2 6ES<br />
Images created by FALLA<br />
Current Scheme<br />
Planning<br />
The existing site has planning consent for the demolition of the existing<br />
buildings and the erection of one, two, three and four storey buildings<br />
with accommodation in the roof space and basement parking.<br />
The accommodation comprises 36 one bedroom, 40 two bedroom, 10<br />
three bedroom flats and 10 three bedroom houses; formation of<br />
vehicular access and provision of associated parking, refuge and cycle<br />
storage.<br />
The resolution to grant was subject to the signing of a Section 106 which<br />
is dated 13 th January 2011 (application ref: 09/03741/P) requires 25%<br />
affordable housing and a financial contribution to various items totalling<br />
£263,392.<br />
On request we can provide detailed accommodation schedules and<br />
plans for the proposed development.<br />
Images created by FALLA
375-401 Over Brighton Road, South Croydon CR2 6ES<br />
Tenure<br />
The freehold interest in the site is offered for sale. The property will be let on a 5<br />
year lease with a break after the third; in addition, income is received from the<br />
telecom masts. Details are available on request.<br />
Services<br />
Mains, gas, water, electricity and drainage are available; however, it will be the<br />
responsibility of the interested party to ensure that they are available and adequate<br />
for any future use.<br />
Rateable Value<br />
We would recommend that interested parties make their own enquiries of the<br />
London Borough of Croydon to ascertain the Rateable Value.<br />
Legal Costs<br />
Both parties are to be responsible for their own legal fees.<br />
VAT<br />
VAT is applicable at the prevailing rate.<br />
Viewing<br />
The property can be viewed from the adopted Highway; however, access on to the<br />
property must be arranged by appointment through the vendor’s agent.<br />
Offers<br />
Offers for the property are sought on either an unconditional or subject to planning<br />
basis, and should be submitted to the Vendor’s agent. Any bids should be made<br />
as a specific sum and calculable by reference to any other bid, document or<br />
formula.<br />
Any subject to planning offer should confirm the proposed scheme with illustrative<br />
layout, the density assumed and provide detailed proposals for overage.<br />
Offers made subject to main board approval should indicate when such approval<br />
would be given and all offers must specify the source of finance for the offer.<br />
Should you wish to impose any conditions, other than being subject to contract,<br />
then these conditions should be clearly stated.<br />
Further Information<br />
On request we can provide information detailing;<br />
Accommodation Schedule<br />
Existing and Proposed Sections & Layouts<br />
Site Survey<br />
Design and Access Statement<br />
Section 106 Agreement<br />
Title Plans and Leases<br />
An EPC is not required as the property has planning permission for<br />
redevelopment.<br />
SUBJECT TO CONTRACT – May 2012<br />
<strong>Stiles</strong> <strong>Harold</strong> <strong>Williams</strong> prepares sales and letting particulars diligently and all reasonable steps are taken to ensure that they are correct. Neither a seller nor a landlord nor <strong>Stiles</strong> <strong>Harold</strong> <strong>Williams</strong> will, however, be under any liability to any<br />
purchaser or tenant or prospective purchaser or tenant in respect of them. If a property is unoccupied, <strong>Stiles</strong> <strong>Harold</strong> <strong>Williams</strong> may not have all the information required by a prospective purchaser or tenant in its possession, may not be able to<br />
obtain it and may not be able to verify all the information which it does hold. The mention of appliances and/or services or heating/cooling system or any other plant or fenestration systems in this description does not imply that they are in<br />
working order. Prospective purchasers should make their own investigations before finalising any agreement to purchase or lease.<br />
NOTE: Any maps or plans included in this document are obtained from Promap under our Ordnance Survey Business Use Copyright licence ES 100017692 or are Goad Digital Plans including mapping data licensed from Ordnance Survey<br />
Crown Copyright 2007 under licence number PU 100017316<br />
making property work from offices in London and across the south east<br />
Viewing<br />
Strictly by appointment with the vendor’s agents <strong>Stiles</strong> <strong>Harold</strong> <strong>Williams</strong><br />
69 Park Lane, Croydon, Surrey CR0 1BY<br />
Richard Plant<br />
Mark J Capanda<br />
Direct Line: 020 8662 2718 Direct Line: 020 8662 2733<br />
Email: rplant@shw.co.uk Email: mcapanda@shw.co.uk