Residential Development Opportunity - Stiles Harold Williams

Residential Development Opportunity
On Instruction of Joint LPA Receivers J. Dickman and S. Ray
375-401 Brighton Road, South Croydon CR2 6ES
OUTH CROYDON

375-401 Over Brighton Road, South Croydon CR2 6ES
Location
The development site is situated
along Brighton Road (A235) in
South Croydon just to the north
east of Purley Oaks.
It is approximately 2 miles to the
south of Croydon town centre and
a mile to the north of Purley.
The area is served by excellent
transport connections; including,
Purely Oaks and Sanderstead
railway stations, which are within
0.25 and 0.75 miles, respectively.
The location map above has been produced using Promap

375-401 Over Brighton Road, South Croydon CR2 6ES
The site is located within the London Borough of Croydon, and the Croydon
Unitary Development Plan adopted in July 2006 sets out the current ‘saved’
policies for the area.
We further understand that no Tree Preservation Orders relate to the site and
that it is within an Archaeological Priority Zone.
The OS above has been produced using Promap

375-401 Over Brighton Road, South Croydon CR2 6ES
Images created by FALLA
The Site
Description
The property was most recently used as a car
dealership, comprising a showroom, forecourt,
associated workshops and multi-storey car
park; the site extends to 0.58 ha (1.43 acres).
The main showroom is set back from the
Brighton Road providing a forecourt area to the
front and workshops to the rear with ancillary
storage and office accommodation. Towards the
front of the site, a former petrol filing station
provides a canopied forecourt and further office
space. To the rear of the site is a multi-storey
car park arranged over 10 stories providing
approximately 230 car parking spaces.
Tenants
Two masts are currently leased to Orange and
O2 generating £9,951pa and £7,642pa,
respectively (excl. VAT). The tenants are
holding over.
The existing site is going to be temporarily let in
parts on a minimum 3 year term with breaks
every 6 months from the third year.
Potential
The site is ideally located for a residential
development scheme providing for both houses
and flats.
There is an opportunity for a developer to agree
a joint venture (JV) deal and pursue a more
economic development scheme.
Images created by FALLA

375-401 Over Brighton Road, South Croydon CR2 6ES
Images created by FALLA
Current Scheme
Planning
The existing site has planning consent for the demolition of the existing
buildings and the erection of one, two, three and four storey buildings
with accommodation in the roof space and basement parking.
The accommodation comprises 36 one bedroom, 40 two bedroom, 10
three bedroom flats and 10 three bedroom houses; formation of
vehicular access and provision of associated parking, refuge and cycle
storage.
The resolution to grant was subject to the signing of a Section 106 which
is dated 13 th January 2011 (application ref: 09/03741/P) requires 25%
affordable housing and a financial contribution to various items totalling
£263,392.
On request we can provide detailed accommodation schedules and
plans for the proposed development.
Images created by FALLA

375-401 Over Brighton Road, South Croydon CR2 6ES
Tenure
The freehold interest in the site is offered for sale. The property will be let on a 5
year lease with a break after the third; in addition, income is received from the
telecom masts. Details are available on request.
Services
Mains, gas, water, electricity and drainage are available; however, it will be the
responsibility of the interested party to ensure that they are available and adequate
for any future use.
Rateable Value
We would recommend that interested parties make their own enquiries of the
London Borough of Croydon to ascertain the Rateable Value.
Legal Costs
Both parties are to be responsible for their own legal fees.
VAT
VAT is applicable at the prevailing rate.
Viewing
The property can be viewed from the adopted Highway; however, access on to the
property must be arranged by appointment through the vendor’s agent.
Offers
Offers for the property are sought on either an unconditional or subject to planning
basis, and should be submitted to the Vendor’s agent. Any bids should be made
as a specific sum and calculable by reference to any other bid, document or
formula.
Any subject to planning offer should confirm the proposed scheme with illustrative
layout, the density assumed and provide detailed proposals for overage.
Offers made subject to main board approval should indicate when such approval
would be given and all offers must specify the source of finance for the offer.
Should you wish to impose any conditions, other than being subject to contract,
then these conditions should be clearly stated.
Further Information
On request we can provide information detailing;
Accommodation Schedule
Existing and Proposed Sections & Layouts
Site Survey
Design and Access Statement
Section 106 Agreement
Title Plans and Leases
An EPC is not required as the property has planning permission for
redevelopment.
SUBJECT TO CONTRACT – May 2012
Stiles Harold Williams 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 Stiles Harold Williams will, however, be under any liability to any
purchaser or tenant or prospective purchaser or tenant in respect of them. If a property is unoccupied, Stiles Harold Williams may not have all the information required by a prospective purchaser or tenant in its possession, may not be able to
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
working order. Prospective purchasers should make their own investigations before finalising any agreement to purchase or lease.
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
Crown Copyright 2007 under licence number PU 100017316
making property work from offices in London and across the south east
Viewing
Strictly by appointment with the vendor’s agents Stiles Harold Williams
69 Park Lane, Croydon, Surrey CR0 1BY
Richard Plant
Mark J Capanda
Direct Line: 020 8662 2718 Direct Line: 020 8662 2733
Email: rplant@shw.co.uk Email: mcapanda@shw.co.uk