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Three-bedroom mixed-use freehold property

Southwark, SE1 - Get Access

3 bed 3 bath

Description

A substantial four-story freehold property comprising a ground floor retail unit and three one-bedroom flats situated on the ground, first, and second floors. The property is prominently situated on Old Kent Road, approximately two miles south-east of Central London. The surrounding area provides a wide range of shops, supermarkets, cafés, and local amenities, with Burgess Park nearby. Excellent bus services operate along Old Kent Road, providing connections towards Elephant & Castle and Central London. Ground Floor: Retail unit with basement. First Floor: One-bedroom flat. Second Floor: One-bedroom flat. Third Floor: One-bedroom flat. Total GIA: 2,499 sq ft (232.1 sq m). Retail Unit: Let on a 16-year lease dated 25.03.2024 at £24,750 p.a. with a rent review every 4 years. Flat A: Let on an AST at £1,500pcm (£18,000 p.a.). Flat B: Let on an AST at £1,225pcm (£14,700 p.a.). Flat C: Currently vacant. Producing £57,450 p.a. with one vacant flat.