Crystal Palace Investment Opportunity

share

bookmark

The property comprises of ground, basement, first and second floor of a three storey terraced building with brick facia beneath a pitched roof.
Ground and basement floor provides a bar area and restaurant area with seating on loose tables and chairs for 80 customers. Ancillary areas include a trade kitchen and customer WC’s. Basement includes a separate function room and bar.

Uppers comprise of two 1 bedroom flats and a two bedroom flat all sold off on long leases with ground rents at £100 for the one beds and £200 for the two bedroom flat.

Tenure
The property is held freehold.

Tenancy
The ground and basement floors are let to Yak & Yeti Limited on a new 15 year lease from 01 Aug 2023 at a current rent of £34,000 per annum which is subject to five yearly open market rent reviews.

Planning
The property is not listed or situated within a conservation area.

Terms
We are instructed to invite offers at £550,000 (6.18% NIY) assuming the usual purchasers costs.

Additional info:
Each of the upper residential leases have approx 65 years remaining