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3 Russell Parade

For sale: £485,000.00|Other, Residential, Other Property Types & Opportunities

Property details

FOR SALE£485,000.00
ADDRESS3 Russell Parade, Russell Hill Road, CR8 2LE
TYPEOther, Residential, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON21st September 2022

Description

Investment producing £39,000 per annum. 8% Gross Yield at Guide Price (capital value £172 psf).

A traditional brick built three storey terraced building with a pitched and tile covered roof.


Tenancy:
The ground floor shop is let to an individual trading as Carlton Fireplaces on a lease to expire in 2030 at a rental of £18,000 per annum. There is a rent review in 2025.

The first and second floor maisonette is let to a company for two years commencing 15/09/2022 with a guaranteed rent of £21,000 per annum.


Accommodation:
Ground floor shop - Sales area, Office, Wc - Approximate area 1,728 sq ft (160.58 sq m)
First / Second floor Maisonette - Approximate area 1,081 sq ft (100.5 sq m)
First floor - Reception room, Bedroom, Kitchen
Second floor - Three bedrooms, Bathroom, Separate WC
Outside - Parking for three cars.

Location

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Location: 3 Russell Parade, Russell Hill Road, CR8 2LE

Morden (5.5 miles)

Colliers Wood (6.1 miles)

South Wimbledon (6.2 miles)

Purley (0.2 miles)

Reedham (Surrey) (0.6 miles)

Reedham (0.8 miles)

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