Land for sale in 61 Frances Street, Woolwich, London SE18

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Land for sale

Property features

  • Freehold block of 11 private flats in Woolwich.
  • Block can be sold with existing rental income (underlet) or vacant.
  • Permission in place to build 9 additional private flats.
  • 3 flats in ground floor conversion & 6 flats in roof extension.
  • C. 0.8 miles from Crossrail & DLR Stations & c. 350 yards from National Rail.
  • Guide price - £4,000,000.

Property description

A rare opportunity to purchase an unbroken freehold block of 11 private flats in Woolwich to be sold with the benefit of existing rental income and planning permission to build an additional 9 private flats.

All the flats except for one (which is currently undergoing a full refurbishment) are let on AST's. The tenants in the block have been in occupation for a long time without rental increases and as such the existing rents achieved are under current market value. All of the tenancy agreements are also holding over and as such the property can either be sold with the existing agreements in place or with vacant possession.

The permission to build 9 additional flats provides for conversion of the under-croft ground floor to provide 3 private flats (1x1 & 2x2 bed) and the erection of 2 additional storeys to provide a further 6 private flats (3x1 & 3x2 bed).

Property info

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For more information about this property, please contact
Acorn - Bromley Commercial, BR2 on +44 20 8115 7729 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Acorn - Bromley Commercial, and do not constitute property particulars. Please contact Acorn - Bromley Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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