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United Estates present this mixed use investment opportunity in a prominent location along Norbury High Street..
The property comprises a middle terrace building constructed on ground, first and second floors probably around the 1920’s. The whole of the ground floor is let on full (Fri) commercial Lease. The upper floors comprise a self-contained flat over 2 floors and let on a residential Assured Shorthold Tenancy. Pedestrian access to the rear of the building is also available to both the shop premises and upper parts along a locked side access gate. This runs along the side of building from the front of the premises along the main London Road. The building is of brick construction under a main pitched tiled roof at the front but with a flat roof over the rear area which also forms an open terrace area to the upper flat..
Current Rent £14,000 p.a subject to 3 yearly rent reviews. The review due in 2017 has not been implemented at this stage hence potential for a rent review. Current Use Class :A2 Financial and professional services.
Ground floor Net Internal Floor Areas (Sq m)
Retail Area 59 Sq m Optician’s Rooms 12.6 Sq m Storage to rear 25.23 Sq m Customer Toilet Accommodation 5.36 Sq m Shop Toilet 2.63 Sq m
Upper residential tenancy
On an AST tenancy was first granted in 4/01/2012 for a minimum term of 6 months at a rental of £1050 pcm. We understand the rent has not since been reviewed and the tenancy continues on a rolling basis.
Front Entrance door from London Road to self -contained Flat on upper floors. Upper Landing 5.3m x 1.86m Bathroom & Toilet 2.3m x 2.7m Kitchen Area 3.67m x 4.21m
Living room 4.2m x 2.62m Bedroom 1 3.3m x 2.98m
Second Floor Bedroom 2 3.45m x 4.31 m Bedroom 3 4.32 m x 3.77m
The flat benefits from double glazing and gas central heating throughout and is rated in C for Council Tax purposes. The EPC rating for the residential dwelling is rated as Band E.
Development potential: The upper maisonette could be subdivided into two separate units subject to the achieving the relevant consents. Any prospective buyer should rely on their own enquires Commercial premises rent review is likely to produce a higher yield..
Sale price: £789,950 for the freehold interest subject the existing tenancies (We understand VAT is not applicable to this sale).
For more information about this property, please contact United Estates Ltd, SW16 on +44 20 3544 7232 * (local rate)
Contact United Estates Ltd about this property
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