Offers in region of
£1,200,000
(£217.90/sq. ft)
Property for sale280A Broadway, Bexleyheath DA6
5,507 sq. ft
About this property
Commercial demise is let to City Plumbing Supplies Holdings Ltd on a 5-year lease, producing £55,000 per annum. The lease is inside the security of tenure provisions of the Landlord & Tenant Act 1954 Part II, expiring June 2029
Upper flats have been let on AST’s, and currently producing the following: Flat 1 - £12,600 per annum, Flat 2 - £13,800 pa., Flat 3 - £15,000 pa
A rare and extensive freehold asset, with title demise totalling 0.13 acres.
Prominent position in the Broadway, which is well established as a popular local retail destination.
Potential for rental growth by way of precedent on recent lettings.
Potential for value add through development at the rear, subject to obtaining possession and the necessary consents.
Sold subject to the existing tenancies
Total rents of £96,400 per annum, reflecting 7.61% niy assuming standard purchaser's costs, and 8.03% Gross, at the guiding figure
Freehold Investment comprising a commercial retail space and storage arranged over ground and lower floors, with rear storage and parking.
Location
Situated on the north side of the Broadway, the building occupies a near end terrace position in a strong parade within this popular commercial retail district. Nearby there is immediate access to a wide and varied selection of independent cafés, restaurants, boutiques and everyday amenities, while Bexleyheath station is within 12 minutes walk to the north along Avenue Road. Bexleyheath offers good connectivity to southeast London, and beyond via the hub of London Bridge. Trains to London Bridge take around 41 minutes, providing onwards connections across London and the south coast. Additional connectivity benefits include excellent road links via the A2, M2, M20, and M25.
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