GROUND FLOOR CAFE
WITH RESIDENTIAL UPPER PARTS

FREEHOLD INVESTMENT FOR SALE

  • Freehold Investment For Sale
  • Subject to the existing tenancies
  • Ground Floor Cafe with Residential upper parts

113 High Street, Penge, London, SE20 7DT

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Location:
The property is situated in a prominent position in the High Street within an established parade comprising a mix of retail and commercial premises.

Description/Accommodation:
The property comprises a ground floor Cafe with the benefit of an A3 Licence currently operating as The Hard Edge Cafe together with a one bedroom flat above.

The ground floor comprises an open plan seating area with additional forecourt seating together with rear kitchen and storage/preparation areas.

There is rear access to the property which is useful in terms of deliveries.

At first floor level is a self-contained one bedroom flat.

THE APPROXIMATE NET INTERNAL AREAS ARE AS FOLLOWS

Sales Area 33.44 sq m 360 sq ft
Kitchen 5.58 sq m 60 sq m
Rear Preparation and storage area 5.95 sq m 64 sq ft
Total 44.97 sq m 484 sq ft

Tenancies:
The ground floor is leased to Christian Breteche trading as The Hard Edge Cafe on effective full repairing and insuring terms expiring on 4th August 2021, subject to 5 yearly rent reviews at a current rent of £16,000 pax.

The first floor flat is let on an Assured Shorthold Tenancy currently let at £860 pcm.

Terms:
The freehold interest is available for sale subject to the above tenancies.  Offers are sought in the region of £475,000  plus VAT (if applicable), subject to Contract

Business Rates:   
According to the Government website the Rateable Value is £6,700 pa.  The UBR for 2017/18 is 46.6p in the £.

Legal costs:          
Each party to be responsible for their own legal costs.

Energy Performance Certificate:          
Full information available upon request.

Viewing
Strictly by appointment with Sole Agents
Gildersleve & Payne   Tel:020 8686 4400
Contact Nick Payne MRICS                                    E: nickp@gpcommercial.co.uk
David Sutton BA (Hons)                                          E:  davids@gpcommercial.co.uk

Property Misdescriptions Act 1991
Please note the agents have not carried out a survey, have not made planning enquiries nor tested any of the equipment, apparatus, fixtures, fittings, services or land and are therefore not able to verify their condition, or suitability for their purpose

Code of Practice
Applicants should be aware that the code of practice on commercial leases in England and Wales strongly recommends you seek professional advice from a qualified Surveyor, Solicitor or Licenced Conveyencer before agreeing or signing a Business Tenancy Agreement. The Code is available through professional institutions and trade associations or through the website www.leasingbusinesspremises.co.uk

 

 

113 High Street, Penge, Surrey, SE20 7DT

113 High Street, Penge, Surrey, SE20 7DT

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