Overview

Freehold investment / development opportunity for sale

Prominent corner plot - Shop & Flat above with rear yard / garden

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  Description
  Mixed use investment / development opportunity for sale.
  Existing E class commercial unit to the ground floor with 2 / 3 bedroom residential flat above and yard / garden area to the rear, to the front is an additional hard standing area with advertising hoarding and possible parking

  Location
  The property occupies a prominent corner position on Northborough Road at its junction with Beckway Road and forms part of a mixed use parade.
  Nearest Stations :
  Norbury Station 0.9miles
  Mitcham Eastfields Station 1.2 miles

  Tenancies
  Ground Floor Shop: FRI Lease for a term of 16 years from 6th February 2010
  Passing Rent £11,500 pa (ERV £17,500 pa)
  Rent reviews every 4 years
  2018 & 2022 rent reviews outstanding - time not of the essence.
  
  First Floor Flat: Let on a new 12 month AST from 1st October 2024
  No break clause
  Passing rent £19,260 pa
  
  Front Forecourt: Advertising hoarding, holding over, passing rent £250 pa
  
  Rear Yard: circa 1,141 sq ft - could be let separately - residential tenant has been allowed to use (not included in AST)

  Terms
  Guide Price £650,000 Freehold - Subject to planning offers are not being considered

  Planning
  No applications have been made - The site has clear potential for extension / conversion / demolition and new build subject to the relevant consents

  Viewings
  Contact sole agents Christopher St James 020 8296 1270