Planning Overage Rights, Thornton Heath, Croydon, Surrey, CR7

Property Details: • Type: Land • Tenure: N/A • Floor Area: N/A

Key Features: • Planning Overage Rights • Thornton Heath • Various potential uses - no planning history • Total Site Area: 0.54 Acres

Location: • Nearest Station: Therapia Lane Tram Stop • Distance to Station: 0.7 miles

Agent Information: • Address: Baltimore House, Juniper Drive, London, SW18 1TS

Full Description: Planning Overage Rights, on soon to be developed buildings & land, Trafford Road, Thornton Heath, Croydon, Surrey, CR7 6DR

This purchase pertains to acquiring the planning overage rights attached to the property's title. The buyer shall be entitled to 15% of the increase in land value from its current value, as a former bowling green to its re-evaluated worth following the approval of planning permissions. These entitlements will be valid for 80 years from April 2024.

The land owner does not have to submit a planning application. This can also be submitted by a third party to gain the overage trigger.

Full details of the overage registered with the Land Registry are available from the auctioneers and within the legal pack to download from the auctioneers website.

Gonville Bowling Club sits at the heart of Thornton Heath?s residential district, positioned on the south side of Trafford Road, which connects seamlessly to the A23 Thornton Road via Silverleigh Road. Immediate local amenities are readily accessible along Thornton Road, while more extensive shopping and recreational options await in Thornton Heath's central area, including retail parks like Valley Park off Purley Way, home to stores like Ikea, approximately 1.5 miles to the south.

With excellent road connections, particularly via the A23, and robust public transportation options such as local bus services, the location enjoys accessibility. Thornton Heath Rail Station lies just 1 mile east, offering a direct route to London Victoria in under 30 minutes.

Investors should note that any computer-generated images (CGIs) provided are for illustrative purposes only.