A rare opportunity to acquire an unbroken freehold shop with upper parts, located on the busy and sought-after Walworth Road, SE17.
The basement and ground floor of the property comprise a retail unit (A1 use class) totalling circa 1,450 sqft. This is split as circa 1,100 sqft over the ground floor and a further circa 350 sqft in the basement. This unit is let to a nail and beauty bar on a commercial lease, which commenced in November 2000 for a ten year term. The tenant is therefore currently 'holding over' at a considerably low passing rent of £18,000 per annum.
A six bedroom apartment is arranged over the first, second and third floors above, and measures circa 1,900 sqft. This unit is selfcontained with its own access from the front of the property (on Walworth Road). This apartment is let on an Assured Shorthold Tenancy Agreement (AST), which commenced in November 2005 for a two year term. These tenants are therefore also 'holding over'. This AST benefits from two personal guarantors, but is let considerably under market value at £900 per calendar month, given the rent has stayed at the same level for the past 15 years.