Rare opportunity to acquire SE1 freehold building with planning permission and asset management potential
Subject property is a four-storey converted Victorian building in two blocks, with 16-self-contained apartments, which have all been sold off on long leases (4 x on 999-year leases and 12 on 125-year leases)
Freehold benefits from full planning permission to construct a single storey extension to the roof on Block B to create a 1 x bed penthouse apartment extending c.558sqft
Permission granted by Southwark Council in October 2019 under reference 19/AP/3559
Ground rent income currently £1,600pax, which is set to rise in June 2028 with lease extension premiums due on 9 flats (all having c.80 years unexpired)
