Freehold shop and three self contained flats reversionary investment for sale.
DESCRIPTION: – The property comprises a mid-terraced freehold building arranged over ground, first, second and third floors. The ground floor operates as a convenience store and the upper parts are self-contained from the front and comprise three individual self-contained one-bedroom flats. The property is fully income producing with the top floor flat occupied under a 3 year assured shorthold tenancy at a very low rent.
LOCATION: – The property is situated fronting Gleneagle Road, just off Streatham High Road and just a few minutes’ walk from Streatham mainline station. Gleneagle Road is a relatively busy link road, linking Streatham with Mitcham and Tooting and the property benefits from a good deal of passing vehicular traffic together with a fair amount of pedestrian flow generated by nearby businesses including major supermarkets and the station. There are short term parking bays on Gleneagle Road which encourage quick-stop trade to the vicinity and the property is a few minutes’ walk from the mainline station. Streatham is a popular and increasingly affluent residential suburb.
ACCOMMODATION:
Ground Floor
Gross frontage 18’7
Internal width 13’8 widening to 17’4
Sales and storage area 73.7m2 (790 sqft) overall.
Upper Parts
First Floor Flat
Living room with open plan kitchen. Double bedroom. Bathroom/WC.
Second Floor Flat
Living room with open plan kitchen. Double bedroom. Bathroom/WC.
Third Floor Flat
Living room with open plan kitchen. Double bedroom with small en-suite shower room. Bathroom/WC.
Upper Parts
First Floor Flat
Living room with open plan kitchen. Double bedroom. Bathroom/WC.
Second Floor Flat
Living room with open plan kitchen. Double bedroom. Bathroom/WC.
Third Floor Flat
Living room with open plan kitchen. Double bedroom with small en-suite shower room. Bathroom/WC.
USE/PLANNING: – We understand the property falls within Class E (Retail) of the latest Town and Country Planning (Use Classes) Order. The upper floors are residential in nature and comprise three self-contained flats.
TENURE: – The property is offered freehold, subject to a commercial lease on the ground floor, expiring on 28th September 2028. The first and second floor flats are lest on assured shorthold tenancies. The top floor flat will be let under a 3 year assured shorthold tenancy at a concessionary rent.
We understand there is a small area of flying freehold to the rear of the property. This comprises an area of circa 1.5m and overhangs the rearmost part of the ground floor shop. Details are available via the seller’s solicitors.
Features
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Location
SW16 6AB