GROUND FLOOR DOUBLE FRONTED RETAIL UNIT
WITH SELF CONTAINED RESIDENTIAL UPPER PARTS
FREEHOLD INVESTMENT FOR SALE
- Investment for Sale subject to the existing Tenancies
- Double Fronted ground floor retail unit
- Eight self-contained large modern studio flats
188-190 MAPLE ROAD, PENGE, LONDON, SE20 8HT
The property is situated in Maple Road, close to the junction with High Street, Penge.
The property comprises a three storey brick built semi-detached property comprising a double fronted ground floor retail unit with self contained residential upper parts.
The ground floor retail area operates as a Butchers/Grocery Retail Outlet with the following approximate net internal floor areas.
THE APPROXIMATE NET INTERNAL AREAS ARE AS FOLLOWS
92.25 sq m
993 sq ft
19.93 sq m
215 sq ft
112.18 sq m
1,208 sq ft
Maple Court comprises eight self contained large modern studio flats all fully let and income producing.
The ground floor is let to Yasir Mohiuddin and Fahad Abbas on a new effective full repairing and insuring lease for a term of 15 years from 1st December 2017 (an extension of their current tenancy). at £23,000 per annum exclusive, subject to rent reviews at the 5th and 10th years.
The Flats are let at the following rents:
Flat 1 Maple Court £765 pcm
Flat 2 Maple Court £750 pcm
Flat 3 Maple Court £760 pcm
Flat 4 Maple Court £765 pcm
Flat 5 Maple Court £740 pcm
Flat 6 Maple Court £800 pcm
Flat 7 Maple Court £780 pcm
Flat 8 Maple Court £800 pcm
The freehold interest subject to the above tenancies is available in the sum of £1,600,000, plus VAT (if applicable), Subject to Contract.
According to the Government website the property has a Rateable Value of £17,750 The UBR for 2017/8 is 46.6p in the £. The residential flats are Tax Band B.
Each party to be responsible for their own legal costs.
Energy Performance Certificate:
For further information, or to arrange an inspection please contact Joint Sole Agents Gildersleve & Payne Tel 020 8686 4400
Nick Payne MRICS
or David Sutton BA (Hons)
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