Large freehold mixed-use site with approved consent potential for five flats above shops.
Freehold mixed-use building, approx. 3,000 sq ft total
A substantial freehold mixed-use building located above West Norwood (Knights Hill) station, offered as a clear development opportunity. The site includes two active ground-floor commercial units (takeaway and hairdresser), an existing residential flat with side and rear access, and a rear garage. The property totals approximately 3,000 sq ft and sits in a high-demand borough where Lambeth Council is supportive of housing-led regeneration.
Previous planning consent covered the addition of five residential units above the shops (3 x 1-bed, 2 x 2-bed). Reinstating that approval is expected to be straightforward given local policy and the council’s active interest in partnering on development, making this attractive to developers and investor-occupiers seeking quick uplift. Transport links are a major strength: West Norwood station provides regular services to central London and local amenities and markets are being actively improved.
Be candid about constraints: the building sits in a deprived area with above-average recorded crime, which can affect lettability and insurance costs and may require enhanced security measures. The project will need construction management, planning reinstatement and capital expenditure to deliver the five new apartments—this is a development/refurbishment play rather than a ready-made investment. Current commercial tenants provide occupancy but may be affected during works.
For buyers targeting rental demand from young professionals and small families, the local market for 1- and 2-bedroom apartments is strong, with typical sale values and steady rental interest. The opportunity suits an investor or small developer who can finance and manage a medium-scale conversion to maximise returns while mitigating local area risks.
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