Investment for sale in Croydon Road, Caterham, Surrey
An opportunity to purchase an income producing freehold in the affluent area of Caterham.
The property is arranged as a ground floor retail unit and two self-contained flats in the uppers. The ground floor unit measures c.600sqft and is let to a hairdressers at a passing rent of £16,000p/a. There are 5 years unexpired, no breaks and a rent review in September 2023. The uppers include a self-contained 1 & 2 bedroom flats measuring c.535sqft & 585sqft respectively, both let on AST's at a passing rent of £750pcm & £900pcm.
Both flats are underlet, and market rents in the local area are £900pcm & £1,200pcm. The flats may benefit from light refurbishment works.
There are 2-3 off street car parking spaces to the rear of the property, and the building may offer future extension potential into the garden (stpp).