Perry Vale , SE23
2 Bedroom Commercial
(Sold)

PROPERTY DESCRIPTION

A fantastic investment opportunity to purchase this freehold property containing two one bedroom flats and a commercial ground floor shop with a rear office space. All parts are currently let with tenants paying good rents.

The property is prominently situated on the corner of Perry Vale and Waldram Place and benefits from excellent transport links. The property is situated close to Forest Hill Station (0.1 miles) which provides regular services to East Croydon and London.

Description/Accommodation
The commercial element comprises a ground floor retail unit and self contained office. The residential element comprises 2 x 1 bedroom flats accessed with their own entrance from Waldram Place.

Internal Area
Net internal areas as follows:
Ground Floor Retail 48.46 sq m 515 sq ft
Rear Office 26.48 sq m 285 sq ft
Basement storage* 28.83 sq m 310 sq ft

Tenancies
Commercial
Ground Floor Retail; The Retail unit is let an effective full repairing and insuring lease for a term of 10 years from 22nd February 2021 at a current rent of £16,500 pa, subject to a rent review at at the 5th year. There is a Tenant break clause in the 5th year subject to 6 months prior written notice. The Landlord holds a rent deposit of £5,500.

Ground Floor Rear Office: Currently under offer at £8,500 pa on the basis of a new effective full
repairing and insuring lease for a term of 5 years.

Residential
Flat A (first floor): Let on an AST Agreement at a current rent of £1350 pcm.
Flat B (second floor): Let on an AST Agreement at a current rent of £1500 pcm.

Terms
The Freehold interest is available for sale subject to the above tenancies at a price in the region of £900,000, subject to Contract, plus VAT (if applicable).

Business Rates
According to the Government website the property has a Rateable Value of (To be assessed). The UBR for 2022/3 is 49.9p in the £.