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Retail premises for sale
400 sq. ft*
Comprises two ground floor shops and four residential flats (sold-off)
Potential to increase income by letting out advertising space at the front
Unit 1 tenant refurbished the property in 2019. Café rated 4.8/5 Stars on Google
Unit 2 tenant has been in occupation for more than 10 years
Investment Consideration: Gross Initial Yield: 7.98% Rental Income: £14,360 p.a. VAT is not applicable to this property Comprises two ground floor shops and four residential flats (sold-off) Potential to increase income by letting out advertising space at the front Unit 1 tenant refurbished the property in 2019. Café rated 4.8/5 Stars on Google Unit 2 tenant has been in occupation for more than 10 years Located within short walk to Crystal Palace Train Station and Crystal Palace Park.
Property Description: The property comprises 2 x Retail Units and Vacant Advertising Board at Ground Floor and 4 Residential Flats which have been sold-off on long leaseholds, providing the following accommodation and dimensions: Ground Floor: 37 sq m (400 sq ft) Retail Unit A: Café - 20 sq m (220 sq ft) Retail Unit B: Shop - 17 sq m (180 sq ft) Basement: Residential Flat (Sold-Off) First Floor: Residential Flat (Sold-Off) Second Floor: Residential Flat (Sold-Off) Third Floor: Residential Flat (Sold-Off)
Tenancy: Unit A is at present let to an Individual t/a Mozart London Café for a term of 5 Years from 25th November 2019 at a current rent of £8,400 per annum and the lease contains full repairing and insuring covenants. Deposit held of £2,800. Unit B is at present let to Frozen Water for a term of 3 Years from 15th May 2019 (Holding Over) at a current rent of £5,160 per annum and the lease contains full repairing and insuring covenants. All 4 Residential Flats have been sold-off on long leaseholds for a term of 125 Years from 24th June 2004 at a ground rent of £200 p.a. Each. (£800 p.a. In total). Reversion 2129.
Location: Crystal Palace is located just north of Croydon and approximately 6 miles south-east of central London, benefitting from good transport links via Crystal Palace Mainline Station being just a few hundred yards away. The property occupies a busy trading position near the junction with Hamlet Road within this well established shopping parade near a Tesco Express and a variety of local traders as well as being just a short walk from the open spaces at Crystal Palace Park.
For more information about this property, please contact Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)
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