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INVESTMENT
FOR SALE
Portfolio of 3 freehold properties comprising
shop and residential upper parts all let
on AST's
For
sale
177
New Kent Road, London, SE1
39
Stroud Green Road, London, SE4
&
129
South Lambeth Road, London, SW8
Currently
producing a rental income of
£125,000 per annum with good potential
for rental uplift for all three properties.
The residential units have been well maintained
and have been the subject of a refurbishment
programme during the course of the past
few years.
177
New Kent Road, London, SE1
DESCRIPTION
The
property comprises a 720 sq ft approx ground
floor shop and stores with seven separately
accessed first and second floor studio flats
all currently let on ASTs..
LOCATION
The
property is located on the north side of
New Kent Road one of South London's busiest
thoroughfare served by many bus routes.
The property also benefits form further
good transport links being approximately
five minutes walk from Elephant and Castle
39
Stroud Green Road, London, SE4
DESCRIPTION
The
property comprises seven studio flats all
currently let on ASTs. The property benefits
from its own self contained access and is
split over the first and second floors of
39 Stroud Green Road
LOCATION
The
property is located just a few minutes walk
from Finsbury Park Satiation on the south
side of Stroud Green Road. The Park itself
is also within short walking distance of
the property.
129 South Lambeth Road, London, SW8
DESCRIPTION
The
property comprises a 463 sq ft approx ground
floor shop with a 486 sq ft basement currently
let as a takeaway restaurant. The upper
parts of the property comprise six studio
flats over the first and second floors with
independent street access. Five of the studios
are currently let on ASTs.
LOCATION
The
Property is located about halfway down South
Lambeth Road between Stockwell and Oval
Tube Stations.
TENURE
The
Shop Unit is currently let on lease expiring
24 March 2011 at a rent of £12,000
pa exclusive. There is also a rent review
outstanding for March 2006.
TENANCY
SCHEDULE
| Room |
Name |
Annual
Rent |
| |
|
|
| |
177
New Kent Road, SE1 |
|
| Shop
|
Café
Reality |
10,400.00 |
| Uppers |
Seven
ASTs |
35,100.00 |
| Total
|
|
45,500.00 |
| |
39
Stroud Green Road, N4 |
|
| Uppers |
Seven
ASTs |
34,840.00 |
| Total |
|
34,840.00 |
| |
129
South Lambeth Road, SW8 |
|
| Shop |
Chicago
Pizza- Abbey |
12,000.00 |
| Uppers |
Five
ASTs (One Vacant Flat) |
38,156.00 |
| Total |
|
50,156.00 |
| |
Grand
Total |
130,496.00 |
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|
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PRICE
We
are instructed to seek offers in excess
of £1,850,000 (one million, eight
hundred and fifty thousand pounds), subject
to contract, for all three properties.
Alternatively
consideration will be given for the sale
of the properties individually on the following
basis, subject to contract.
177
New Kent Road: £625,000, subject to
contract
39
Stroud Green Road: £550,000, subject
to contract
129
South Lambeth Road: £675,000, subject
to contract
VAT
The
properties are elected for VAT.
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