Freeehold Shop and Upper Parts Sold

Norbury, London Road, SW16 4EU

£789,950Freehold

United Estates is pleased to bring to the market this mixed use investment opportunity in a prominent location along Norbury High Street.

GENERAL DESCRIPTION

The property comprises a middle terrace building constructed on ground, first and second floors probably around the 1920’s. The whole of the ground floor is let on full (FRI) commercial Lease. The upper floors comprise a self-contained flat over 2 floors and let on a residential Assured Shorthold Tenancy. Pedestrian access to the rear of the building is also available to both the shop premises and upper parts along a locked side access gate. This runs along the side of building from the front of the premises along the main London Road. The building is of brick construction under a main pitched tiled roof at the front but with a flat roof over the rear area which also forms an open terrace area to the upper flat.

SHOP LEASE

Current Rent £14,000 p.a subject to 3 yearly rent reviews. The review due in 2017 has not been implemented at this stage. Current Use Class :A2 Financial and professional services. Ground floor Net Internal Floor Areas (Sq m) Retail Area 59 Sq m Optician Rooms 12.6 Sq m Storage to rear 25.23 Sq m Customer Toilet Accommodation 5.36 Sq m Shop Toilet 2.63 Sq m

UPPER RESIDENTIAL TENANCY

On an AST tenancy was first granted in 4/01/2012 for a minimum term of 6 months at a rental of £1050 pcm. We understand the rent has not since been reviewed and the tenancy continues on a rolling basis. Front Entrance door from London Road to self -contained Flat on upper floors. Upper Landing 5.3m x 1.86m Bathroom & Toilet 2.3m x 2.7m Kitchen Area 3.67m x 4.21m Living room 4.2m x 2.62m Bedroom 1 3.3m x 2.98m Second Floor Bedroom 2 3.45m x 4.31 m Bedroom 3 4.32 m x 3.77m The flat benefits from double glazing and gas central heating throughout and is rated in C for Council Tax purposes. The EPC rating for the residential dwelling is rated as Band E.

DEVELOPMENT POTENTIAL:

The upper maisonette could be subdivided into two separate units subject to the achieving the relevant consents. Any prospective buyer should rely on their own enquires.

SALE PRICE:

£789,950 for the freehold interest subject the existing tenancies (We understand VAT is not applicable to this sale).

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LOCATION

    United Estates
    67 Streatham High Road
    Streatham, London SW16 1PH
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We are committed to providing a professional, independent and customized service to all our clients, the first timer or the more experienced property investor. Our portfolio of services embraces the sale, purchase, letting and management of residential/commercial properties across a wide area. We are proud of our reputation and expertise - painstakingly built nearly three decades of presence in this sector. With a buoyant property market in Streatham and the peripheral areas, these are exciting times especially as demand continues to outpace the supply of housing stock.