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Freehold Shop and Residential Ground Rent Investment
Comprising a shop and three ﬂats (sold off)
Asset Management Opportunity
Under rented (erv circa £12,000)
Well situated on High Street
VAT is applicable to this property
Occupiers close by include Coral, Ladbrokes and Natwest, amongst others
Investment Consideration: Gross Initial Yield: 5.94% Rent: £10,400 p.a. VAT is applicable to this property. Asset Management Opportunity. Under rented (erv circa £12,000). Comprising a shop and three ﬂats (sold off). Well situated on High Street. Occupiers close by include Coral, Townsends estate agents, Ladbrokes, Jukes & Co estate agents, The Post Oﬃce and NatWest, amongst others.
Property Description: The property is arranged on basement, ground and two upper ﬂoors to provide a ground ﬂoor shop with three ﬂats arranged on basement and the two upper ﬂoors sold off on long leases. The ﬂats are accessible from the rear of the property.
Tenancy Description The shop is at present let to Marcelmar Limited t/a Polish Delicatessen for a term of 1 year from 1st September 2019 at a current rent of £10,200 per annum and the lease contains full repairing and insuring covenants. Deposit amount of £2,203 held for commercial unit. The three residential ﬂats have been sold off on long leasehold.
Location Description: South Norwood is a busy and densely populated South East London suburb, lying 2 miles north of Croydon and some 9 miles south of Central London and is located within the London Borough of Croydon. Norwood Junction Mainline Station provides regular non-stop services to London Bridge (journey time 17 minutes). The property is situated on the south side of High Street, in between its junctions with Portland Road and Station Road. To the rear of the property is a public pay and display car park. Occupiers close by include Coral, Townsends estate agents, Ladbrokes, Jukes & Co estate agents, The Post Oﬃce and NatWest, amongst others.
For more information about this property, please contact Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)
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