Investment Consideration:
Gross Initial Yield: 4.86%
Rental Income: £51,000 p.a.
VAT is NOT applicable to this property
Comprises Ground Floor Takeaway (Sold-Off) and 3 Flats Above (2 x 2-Bed and 1 x 1-Bed)
Flats refurbished to a high quality standard in 2021
Total area size of 142 sq m (1,528 sq ft)
Nearby occupiers include Catford Shopping Centre, Barclays, KFC, Argos, Nando`s, Domino`s and Post Office, amongst others.
Property Description:
The property comprises restaurant/takeaway at ground floor which has been sold-off on long leasehold with 2 x 2-bedroom and 1 x 1-bedroom flats above, providing the following accommodation and dimensions:
Ground Floor: Takeaway Sold-Off
First Floor: 2-Bed Flat 50 sq m (538 sq ft)
Kitchen/Living Room, 2 Bedrooms, Bathroom
Second Floor: 2-Bed Flat 50 sq m (538 sq ft)
Kitchen/Living Room, 2 Bedrooms, Bathroom
Top Floor: 1-Bed Flat 42 sq m (452 sq ft)
Kitchen/Living Room, 1 Bedroom, Bathroom
Total area size: 142 sq m (1,528 sq ft)
Tenancy:
Flat 127A has let agreed on AST to an Individual for a term of 12 Months from 1th July 2023 at a rent of £18,000 p.a.
Flat 127B has let agreed on AST to an Individual for a term of 12 Months from 1th July 2023 at a rent of £18,000 p.a.
Flat 127C has let agreed on Guaranteed Rent Agreement to N & N Property Management Limited for a term of 12 Months from 1th June 2023 at a rent of £15,000 p.a.
The Ground Floor Restaurant has been sold off on long leasehold for a term of 999 Years from June 2023 at a ground rent of peppercorn.
Location:
Catford is a district of south east London, England, and the administrative centre of the London Borough of Lewisham. It is southwest of Lewisham itself, mostly in the Rushey Green and Catford South wards. The district is served by two railway stations, Catford and Catford Bridge. Catford Station provides Thameslink services to Kentish Town, London Blackfriars, Orpington via Bromley South and to Sevenoaks via Bromley South and Swanley. Catford Bridge Station is served by South-Eastern services to London Charing Cross, London Cannon Street via Lewisham and to Hayes. The district`s main road is A205 South Circular which crosses South London, running from Woolwich in the east to the junction of the A406 (North Circular Road), the M4 and the A4 at Gunnersbury in the west. Nearby occupiers include Catford Shopping Centre, Barclays, KFC London, Argos, Nando`s, Domino`s and Post Office, amongst others.
