A great opportunity to purchase a freehold takeaway (A3/A5) investment, which also includes a vacant single garage to the rear with has vehicular access, and ground rent from two flats sold off on long leaseholds. With food delivery/takeaways becoming ever more popular, A3/A5 commercial units are very highly sought after by investors who understand this type of investment is a safe bet!
The ground and basement floors measure approx. 900sqft, are in very good condition throughout and let to 'G's Chicken' on a fully repairing and insuring lease until 2028. The original 20 year lease was assigned to G's Chicken in 2012, and after successfully trading there for the past 8 years, there are now 8 years remaining on the lease and open market rent reviews every 3 years (2023 & 2026). The landlord has not increased the rent during their ownership, we believe the commercial unit is underlet, and market rent for this type of property is in the region of £18,000-£20,000pa.
Additionally, there is also a vacant garage to the rear which is included within the freehold. The garage is in need of refurbishment, but when we consider it has vehicular access and is 150m from Brockley Railway Station there is no doubt the garage could very quickly be rented out for storage or parking. The upper parts include two flats sold off on long leases (119 & 120 years remaining) producing a combined ground rent of £500pa, which doubles every 25 years.
This opportunity offers both a very sound investment, and the opportunity to produce additional income through active management/refurbishment of the garage, and increasing the rent to market rates for the commercial unit at the next rent review.