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Welling – Freehold Retail & Residential Investment

Guide price: £600,000.00|1,485 Sq Ft|Retail - High Street, Retail Park, Mixed Use, Retail, Other Property Types & Opportunities

Property details

SIZE1,485 Sq Ft
ADDRESS41/41B Bellegrove Road, Welling, Kent DA16 3PB
TYPERetail - High Street, Retail Park, Mixed Use, Retail, Other Property Types & Opportunities
TENUREUnder Offer
POSTED ON15th June 2021

Description

Investment Consideration:
Gross Initial Yield: 4.23%
Rental Income: £25,400 p.a.
VAT is NOT applicable to this property
Comprises ground floor shop and 2-bed flat at first floor
Total area size 138 sq m (1,485 sq ft)
Parking space for 2 cars
Located approximately ¼ mile of Welling Railway Station
Occupiers nearby include Holland & Barrett, McDonald’s, Lloyds, Scope, a Post Office and a Large Iceland Supermarket.

Property Description:
The property comprises ground floor takeaway shop and self-contained 2-Bedroom flat at first floor. The shop benefits from having a rear service road for unloading as well as parking for 2 cars. The flat is separately accessed from the rear and comprises 2 bedrooms, kitchen/living room and bathroom/WC

The property provides the following dimension and accommodation:
Ground Floor: Shop 68 sq m (732 sq ft)
First Floor: 2-Bed Flat 70 sq m (753 sq ft)
Total area size: 138 sq m (1,485 sq ft)

Tenancy:
The ground floor shop is at present let to Himalayan Sushi Bar Ltd for a term of 10 years from 1st December 2020 at a current rent of £14,000 per annum and the lease contains full repairing and insuring covenants. No break clause. Open market rent review in 2025. Deposit held of £3,500. Lease within 1954 Act. The first floor flat is at present let on AST to an Individual for a term of 12 Months from 7th March 2019 (holding over) at a current rent of £11,400 per annum. Deposit held of £1,000.

Location:
Welling is situated approximately 11 miles south-east of central London and 6 miles west of the M25 (Junction 1A) with easy access via the A2. The property is located close to the junction with Deepdene Road amongst a variety of local traders and multiple retailers such as Holland & Barrett, McDonald’s, Lloyds, Scope, a Post Office and a Large Iceland Supermarket as well as being only approximately ¼ mile of Welling Railway Station.

Location

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Location: 41/41B Bellegrove Road, Welling, Kent DA16 3PB

North Greenwich (5.1 miles)

Upney (5.2 miles)

Becontree (5.4 miles)

Welling (0.2 miles)

Falconwood (1.2 miles)

Bexleyheath (1.2 miles)

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