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£2,250,000 OIEO

107-109 Downs Road, London, E5 Ref: 29828

Overview

A unique opportunity to purchase a substantial freehold building which not only benefits from a secure income but also provides incoming purchasers with opportunities to add value both through implementation of the planning permissions in place, through active management and internal modifications to achieve higher rents, and also by taking advantage of the commercial to residential potential (stpp).

Description

The property is positioned over four floors (including basement). The basement is currently unused, under-utilised and in need of refurbishment. The ground floor which is slightly elevated contains two E use class suites currently occupied as offices. The first floor is occupied by an office and a 1 bedroom flat, whilst the second and third floors comprise a split-level 1 bedroom flat and split-level 2 bedroom flat, both of which benefit from roof terraces. The rear of the property is occupied by an open yard and car garage which is accessed via an under croft on the left-hand side of the property.

The residential accommodation was converted/extended in 2016, is in excellent condition and attracts strong rents and low void periods as a result. The office accommodation on ground and part of the first floor is let to one occupier on a short-term agreement outside of the Act, whilst the car garage to the rear is also let to a motor mechanic on a short-term agreement outside of the Act.

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