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16 Westway

1,673 SF 100% Leased Retail Building Caterham CR3 5TP £600,000 (£359/SF)

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Investment Highlights

Central location in Caterham
Development/conversion potential

Large rear garden, shed and garage
Retail unit plus a three bedroom maisonette

Executive Summary

Currently the return frontage/corner site offers a retail unit, three bedroom maisonette, garden, shed and garage. Access to the flat, garden and garage is via Money Road. The site offers a variety of redevelopment options - subject to gaining the relevant local authority planning consents.
Westway has seen a number of properties adding flats to the existing mixed-use buildings. 16 Westway previously achieved a planning consent (now expired) for a conversion of the maisonette to 2 x 2 bed flat: Planning application reference: 2019/1268. The proposal: Conversion of 1 x 3-bed dwelling to 1 x 1-bed and 1 x 2-bed self-contained flats, involving single storey rear and first floor side extensions, extended garage and associated works.
The existing floor areas comprise: Retail shop of 275 square feet, three bedroom maisonette of 881 square feet plus family bathroom. In addition, the site offers a garden and a rear shed/garage offering 378 square feet of space, accessed via Money Road.
16 Westway is located on the junction with Money Road, opposite Westway Common. Caterham Town Centre, High Street and Railway Station are within five minutes' drive. The A22/M25 (junction 6) can be reached within ten minutes' drive.

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