Offers over
£725,000
(£299.96/sq. ft)
Property for sale53 Norbury Crescent, London, Greater London SW16
2,417 sq. ft
Just added
About this property
Nursery Investment For Sale in Norbury
Let to 'Purple Panda Nurseries Limited' Company Number 07671487
15-year lease from 31/03/2023
Passing rent of £60,000 per annum
Measures approx. 2,417sqft
Guide price: £725,000 (8.27% return)
An opportunity to purchase a freehold commercial investment providing long-term income. The building extends to approximately 2,417sqft and is arranged over ground, first and second floors, with the added benefit of a private rear garden complete with an outbuilding.
The property is let to Purple Panda Nurseries Limited, who have been in occupation since 2023. The lease is for a term of 15 years, incorporating open market rent reviews every five years, as well as tenant-only break options at the same intervals, with the next break option due in March 2028.
We believe the property will appeal to investors; however, it also appears to offer longer-term potential for conversion into residential accommodation (STPP). Please note that the commercial lease is contracted inside the provisions of the Landlord and Tenant Act 1954.
A purchase at the guide price would reflect a Gross Initial Yield of 8.27% and a capital value of c.£300 per sqft.
The property is being sold by Acorn Commercial on the instructions of Cripps Trust Corporation Limited pursuant to a court order. It is available for immediate purchase, subject to the existing tenancy agreement.
The property is let to Purple Panda Nurseries Limited, who have been in occupation since 2023. The lease is for a term of 15 years, incorporating open market rent reviews every five years, as well as tenant-only break options at the same intervals, with the next break option due in March 2028.
We believe the property will appeal to investors; however, it also appears to offer longer-term potential for conversion into residential accommodation (STPP). Please note that the commercial lease is contracted inside the provisions of the Landlord and Tenant Act 1954.
A purchase at the guide price would reflect a Gross Initial Yield of 8.27% and a capital value of c.£300 per sqft.
The property is being sold by Acorn Commercial on the instructions of Cripps Trust Corporation Limited pursuant to a court order. It is available for immediate purchase, subject to the existing tenancy agreement.
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