159-163 Clapham High St
Office for sale
£2,500,000 9,822 sq ft
The Property is located in a prominent position on Clapham High Street, a stones throw from 220 acre Clapham Common and Clapham Common Underground Station. Clapham High Street boasts an eclectic selection of pubs, restaurants and trendy bars, and amenities such as supermarket shopping and an original Arthouse cinema. Clapham is an affluent residential suburb of south west London. A commuter district, Clapham has attracted young professionals and families to the area over the past decade. The average age is 30 years old, with over half of the resident population in full time employment and unemployment as low as 2.7 %. Clapham benefits from the 220 acre Clapham Common, containing three ponds, a picturesque bandstand, tennis courts and a bowling green. The common is the hub of the community and plays host to a series of summer festivals, fairs and a hugely popular annual public firework display. Clapham High Street provides a strong retail presence with local occupiers including WHSmith, Superdrug, Boots and Waitrose. We have assumed an estimated rental value of £130,000 per annum for the ground floor retail space. This is based on a conservative Zone A rate of £85 per sq ft. There are current lettings on Clapham High Street that have achieved in excess of £90 per sq ft Zone A and a number of recently settled deals to support this ERV. The Property is subject to a high footfall and has a significant frontage that would suit a number of A1 retail or A3 restaurant/bar operators subject to change of use consent. The Property lies in a prime leisure pitch surrounded by occupiers including: The Property falls within the authority of Lambeth Borough Council and is suitable for reconfiguration and change of use, subject to planning. Upper floor residential use (Class C 3) is well established along Clapham High Street. Planning permission was granted in April 2012 (12 /01166/FUL) for the change of use and conversion of existing offices at part first, second and third floor levels to provide 6 self -contained flats. This planning permission expired in November 2015. This proposal included the retention of the Post Office on the ground and part first floor. No external alterations were proposed and the residential accommodation was accessed through the existing entrance on Clapham High Street. Clapham is a popular residential location and there is evidence of new home sales in Clapham Common achieving between the range of £800-£1,000 per sq ft. Further information is available on request. Clapham High Street is a prime south London retail and leisure pitch surrounded by restaurant and bar operators including Byron Burger, Be at One and Five Guys The Property benefits from being a stones throw from Clapham Common Underground Station which provides direct Northern Line services to Central London in approximately 15 minutes. In April 2012 planning permission was granted for the change of use and conversion of existing offices at part first, second and third floor levels to provide 6 self contained flats. There is evidence to suggest new build residential apartments have achieved in the region of £800-£1,000 per sq ft.
This office for sale is located in Clapham.