The Opportunity
The property comprises a ground floor lock-up shop, currently trading as a hair and beauty salon and occupied under a 10-year lease expiring in March 2032. The property has a rear fire door.
The upper parts comprise a well-proportioned, self-contained two bedroom split-level flat which is let on a periodic tenancy. The flat is accessed via the rear of the property. There is a sitting room and a spacious kitchen at first floor level as well as access to a roof terrace. At second floor level there are two bedrooms and a bathroom. We are advised that the residential element benefits from a Goodlord landlord rent protection and legal expenses insurance policy.
The property therefore offers an attractive fully let investment opportunity, providing a combination of commercial and residential income in a desirable and well-established location.
Location
he property is situated with a visible frontage to High Street, Purley which is a busy one-way link road between Purley Road and Brighton Road in the centre of Purley. The property shares the locality with a mixture of multiple and more local and specialist trades. Nearby multiples include Boots Pharmacy, Ladbrokes, Rowland Brothers and Cuppa Chaii.
There are short-term parking bays available along Purley High Street which encourages quick stop trade to the locality. Purley station is 163 yards away offering links to London Victoria. The surrounding area is a densely populated residential catchment which is reasonably affluent in nature.
Tenure: Freehold subject to occupational tenancies.
Price: £450,000 (Four hundred and fifty thousand pounds) representing a gross yield of 7.9% at the guide price.
VAT: We are advised that the property is not elected to VAT
Features
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Location
High Street, Purley CR8 2AA, UK