Property Information
Address:
73 Lassell Street, Greenwich, London
, SE10 9PJ
, London
, england
Price: Property no longer available.
Size: 970 sq ft90 sqm
Primary Category: Investment
All Categories:
Investment, Shop,
Property Ref/Movehut: MH640736
Property Ref/Agent: 27998
*Please use the agent ref when calling the agent directly.
Property description
An opportunity to purchase a shop and flat combined. This attractive freehold live/work unit is in a desirable Greenwich location, surrounded by charming Victorian properties.
The ground floor was previously used as an art studio/gallery and is approximately 409sqft still with the original Victorian frontage, including big bay glass windows. The lower ground floor is approximately 561sqft, with established residential usage, and is arranged as a studio flat, equipped with a kitchen area and toilet/shower facilities.The property also comes with a conservatory and large private courtyard garden, paved with stone flags.
Included with the freehold is a large split-level flat above over first and second floors which in 1989 was sold off on a 99 year lease. Therefore there is only 67 years remaining on the lease. If / as and when the leaseholder wishes to extend the lease a payment will need to be made to the freehold owner. Based on calculations from the Lease Extension Calculator this will be c.£50,000 currently and will increase as the lease length continues to reduce further. The current ground rent payable to the freeholder is £150pa.
The rear of the property at lower ground level can be accessed from the rear via Orlop Street. The rear of the property at lower ground floor level has potential to extend with a single storey extension (stpp). This is already in place / built very recently at the adjacent property, 75 Lassell Street. Planning permission as granted in 2019 under Greenwich Council 19/3845/F. See photos - construction should be straightforward given the rear access. It should be possible (stpp) to create two units from the property with commercial at ground floor (retail or an office) and then a residential unit accessed either from the front at Lassell Street or rear via Orlop Street. It should also be possible to convert the property under permitted development so that it is entirely residential. There is lots of options and potential to add value with this property.
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