118 - 120 London Road, Mitcham CR4

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

Key Features: • Investment Opportunity • Development Opportunity • Income Producing • Current Lease Expires 2027 • Income £59,000 pa • Corner Plot • 0.5 Miles to BR Station • 1 Mile to Tube Station • Sole Agents

Location: • Nearest Station: Tooting Station • Distance to Station: 0.4 miles

Agent Information: • Address: 61 High Street Colliers Wood, London, SW19 2JF

Full Description: UNDER OFFER Freehold investment / development opportunity for sale. Comprises a mix of industrial units, office space and hard standing area. 0.5 miles to Tooting Rail Station. Sole AgentsDescription - UNDER OFFER Investment / development opportunity The property is on a single title with 2 separate detached buildings comprising Car repair / MOT station let on a long lease which expires in 2027 and office space let on short term agreements with 2 months notice required for vacant possession.Title Nos: SY159723 Plot size: 0.121 acresUse Class: E Class Listed Building: NoFlood Zone: NoLocal Authority: MertonLocation - The property occupies a prominent corner position along the A217 London Road at its junction with Dennis Reeves Close on the edge of Mitcham Town Centre with quick access to neighbouring Streatham, Tooting & Colliers Wood Nearest Stations: Tooting British Rail Station - 0.5 miles (Thameslink Services) Colliers Wood Underground Station - 1 mile (Northern Line Services)Tenancies / Income - MOT Station: 20 year lease expires Nov 2027 - Passing Rent £36,000 pa Occupying the majority of the ground floor space in the front office building, yard space and all units industrial units to the rear Private tenants: Short term license agreements with 2 months notice required for vacant possession - Passing rent £24,000 pa let separately to two private individuals Total Passing Rent: £60,000 paPlanning - Subject to the relevant consents it is felt the site would lend itself to a mixed use or residential development Scope also exists for extension / refurbishment works to increase the rental incomeTerms - Guide Price £1,000,000 Freehold Please be advised that subject to planning offers are not being consideredViewing - Viewings are strictly by appointment only Running businesses are in occupation and interested parties are asked not to approach staffBrochuresMarketing Particulars 118 - 120 London Rd, MitchamBrochure