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£400,000 Guide

369 Brockley Road, London, SE4 Ref: 29988

A rare unbroken mixed-use freehold property on Brockley Road, SE4.

The building is arranged as a basement & ground floor shop, and a self-contained apartment over the first & second floors above.

The basement & ground floor shop measures circa 1,028 sqft in total, which is split as circa 628 sqft over ground floor and circa 400 sqft in the basement. The unit benefits from the flexible 'E' use class, has a back garden, and also rear access. It is let to Dexters London Limited for a 5 year term with no break options or rent reviews. The rent is fixed at £15,000 per annum, which is under-let (the unit has an Estimated Rental Value of £22,000 per annum). Dexters London Limited had a turnover of £108m and a pre-tax profit of £17m last year. They are one of the biggest
privately owned estate agency groups in London, and therefore a very strong covenant.

The upper parts of the property comprise a 3 bedroom flat which is arranged over the first and second floors. The unit is self-contained, being accessed from the front of the building (via Brockley Road). It also has a separate kitchen & living room and measures circa 1,100 sqft in total. The flat is occupied by a regulated tenant who is paying £653 pcm / £7,836 pa. The rent is reviewed through the fair rent review mechanism, with the next review on 17th March 2023. The tenancy commenced in 1984 and the tenant is 68 years of age. The market rent for a 3 bedroom flat in this area above commercial is approximately £1,900 pcm / £22,800 pa.

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