Guide price
£375,000
Property for sale58 London Road, Forest Hill, London SE23
EPC Rating: E
About this property
Freehold commercial investment opportunity
Ground floor unit let to Acorn Estate Agency Group/lrg/Platinum Equity
Flat above sold off on long lease
Producing £28,000 pa
Prominently located on London Road in the heart of Forest Hill
Guide price £375,000 (7.46% gross yield)
An excellent opportunity to acquire a freehold commercial investment in the popular Forest Hill, comprising a ground and lower ground floor commercial unit measuring 1,597sqft, with residential accommodation above, the latter having been sold off on a long lease, producing a secure and attractive income.
The ground floor commercial/retail unit is let to Acorn Estate Agents part of the Leaders Romans Group (lrg) . Lrg is a well-established national estate agency and property services business owned by Platinum Equity (), so the property benefits from a strong covenant and income security.
The current rent is £27,750 per annum. The premises are held on a 15-year lease to lrg from 1 October 2014. The residential flat above, accessed separately to the side of the commercial unit, has been sold off on a long lease and does not form part of the sale, aside from the benefit of the ground rent income of £250 per annum. The total current income is £28,000 per annum. The property is offered at a guide price of £375,000, reflecting a gross yield of 7.46%.
The ground floor commercial/retail unit is let to Acorn Estate Agents part of the Leaders Romans Group (lrg) . Lrg is a well-established national estate agency and property services business owned by Platinum Equity (), so the property benefits from a strong covenant and income security.
The current rent is £27,750 per annum. The premises are held on a 15-year lease to lrg from 1 October 2014. The residential flat above, accessed separately to the side of the commercial unit, has been sold off on a long lease and does not form part of the sale, aside from the benefit of the ground rent income of £250 per annum. The total current income is £28,000 per annum. The property is offered at a guide price of £375,000, reflecting a gross yield of 7.46%.
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Monthly repayment
£1,875 per month
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