The property for reconstruction with a building permit.
The property consists of a one-story building with a car rental business, administrative and office premises, an open storage space and a three-story building with 3 apartments.
According to the project, a partial demolition of existing structures and the construction of a new residential complex of two buildings with 32 apartments, including parking for bicycles and a children's playground, is planned.
The residential area of the property will be 2,015 m², and the area of the yard will be 175 m².
Ownership type: Freehold.
The absolute annual income is £ 271,380.
An anchor tenant is a car rental company.
Lease agreement is valid until December 24, 2019.
The tenant is ready to vacate the premises for the period of construction and then enter into a new lease for 15 years.
The apartments are rented until 31.12.2018.
Location and nearby infrastructure
Kennington is a densely populated southern suburb of London, located within the Lambeth London area, in about 2.3 km to the south of central London.
The property is located in a residential area. There are restaurants, schools, cafes and a gym, a farmer's market nearby.
The nearest metro station is 500 meters away, there are also motorways and several bus routes that connect the area to the city center.
The Clapham Common Park can be reached in a 5-minutes drive, The Waterloo — in a 6-minute drive, and the Leicester Square — in a 11-minute drive.