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£1,000,000 OIEO

281-283 Rye Lane, Peckham, London SE15 Ref: 29327

An extremely rare opportunity to purchase a commercial freehold property with apparent development potential, located in the centre of Peckham SE15.

The building will be sold with vacant possession upon completion, but is currently operated as a church and nursery. It therefore has an established D1 (church) use class. The existing building measures circa 3,462 sqft in total, which is spread between (mostly) ground and a small first floor. The ground floor measures circa 2,522 sqft and the first floor measures circa 940 sqft. There is also a small playground / outdoor area which measures circa 955 sqft. The total site area is therefore circa 3,477 sqft. The building also benefits from a rear vehicular access point off Philip Walk.

The existing building is arranged over ground and part first floor. There appears to be potential to increase the size of the first floor, together with extending the ground floor to cover the full extent of plot. Furthermore, the properties that directly neighbour the building are both a storey taller (plus loft), and as a result, there is clear precedent to erect an additional storey, together with a rear extension (stpp).

Please note the subject property has no relevant planning history.

The site at 269-275 Rye Lane was granted planning consent by Southwark Council in May 2016 (reference number: 16/AP/1896) for the erection of a part 3 and part 5 storey building, to comprise 29 self-contained apartments, 1 two storey house, and circa 5,748 sqft of flexible commercial space.

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