Development,Investment for sale in a 29 & 29a Burghill Road, Sydenham, London
An unbroken freehold block of apartments, which offers further potential, with all units let on AST's.
The property comprises 4 maisonettes. These are currently arranged as 2 two bedroom and 2 three bedroom units. All of the maisonettes are over-sized. Please see schedule of accommodation (left). Given all units are maisonettes, the building has no communal areas and therefore totals circa 3,537 sqft.
Each maisonette is let on an AST (Assured Shorthold Tenancy Agreement) to a private individual. Between these 4 AST's, the building is producing a total of £58,260 per annum. However, most of the units are let below market value. The total Estimated Rental Value is approximately £74,400 per annum. Please schedule of accommodation (left) with a breakdown of values.
The building also benefits from a large rear communal garden with side vehicular access, as well as some vacant land at the back of the garden which dog legs behind some of the neighbouring properties.
In summary, a freehold property currently arranged as 4 large maisonettes with clear development potential. All 4 units are currently let on short-term tenancy agreements, most of which are let below market value.