Planning Consent granted for residential development
Grade II listed freehold shop for sale with planning consent for residential development on lower ground and first floors whilst retaining the ground floor commercial letting. The premises are located centrally within Mayfield High Street.
The commercial tenant is holding over at a rent of £14,750pa pending the grant of a new lease of the ground floor only at an agreed rent of £12,000pa. which is being negotiated.
The premises comprise a ground floor retail shop with office/storage areas to the rear, with the lower ground and first floor currently being used for storage for the shop but with the scope to be converted back to residential accommodation having its own access. The premises have a large garden including vehicular access from Star Mews and another outbuilding at the rear.
Ground floor 74.40 sq m (801 sq ft)
Lower ground floor 70.30 sq m (757 sq ft)
First floor currently used for residential 63.10 sq m (679 sq ft)
Total usable area 207.80 sq m (2,237 sq ft)
The shop is currently let to St Dunstan\’s Pharmacy with the lease having expired and the tenant holding over pending the grant of a new lease of the ground floor only.
This is excellent opportunity to acquire a freehold commercial property in the heart of Mayfield with potential for conversion into a one bed and a two bed flat – details of which can be found under planning consent ref: WD/2018/0468/F.
Offers sought in region of £670,000 for the freehold interest, subject to the current letting of the ground floor retail premises and planning as above.