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£425,000 OIEO

Investment for sale - 136 New Cross Road, London SE14 Ref: 26700

The subject property comprises an unbroken freehold located on New Cross Road (A2). The building is arranged as a commercial unit on the ground floor, with a self-contained, split-level 2 bedroom apartment over the first and second floors above.

The commercial accomodation benefits from A3 (restaurant and café) and A5 (hot food takeaway) use classification and measures circa. 870 sqft. This unit is not subject to business rates, and is under lease for a ten year term at a rent of £16,000 per annum. There is a £4,000 deposit from the tenant held on account.

The apartment above is accessed from the front of the property (via New Cross Road) and measures circa 550 sqft, arranged as two separate bedrooms, an open plan kitchen/living area, and a bathroom. This unit is in good condition throughout, and currently let on an Assured Shorthold Tenancy (AST) for £1,066 PCM. This is believed to be considerably under-let given comparable apartments achieved in the region of £1,350 PCM.