The property is an unbroken mixed use building comprising an office and four flats. The office is over ground and basement, two flats are on the ground floor and two flats are above the office. The office will be sold with vacant possession and the flats are fully let on ASTs. The total contracted income from the flats is £3,800 per annum which is broken down: Flat A £1,050 pcm, Flat B £900 pcm, Flat C £800 pcm and Flat D £1,050 pcm. The ERV for the office space is approximately £15,000 per annum.
We understand any incoming commercial tenant will benefit from 100% of small business rates relief as the rateable value of the commercial unit is within the qualifying threshold. All interested parties are advised to make their own enquiries with the local authority.
Location
The property occupies a prominent position on the corner of Thrale Road and Penwortham Road in Streatham. 15 Thrale Road is an end of terrace property that forms part of a mixed-use parade. Recreational facilities can be found close by at Tooting Common and Streatham Common. Both Streatham and Streatham Common mainline railway stations are equidistant (0.5 miles) from the property and provide a direct service into London Bridge, London Blackfriars and London Victoria. Retail and leisure amenities can be found close by in Tooting High Road and Streatham High Road.
Accommodation
Office - 64.3 sq m (692 sq ft)
Flat A - 34.5 sq m (371 sq ft)
Flat B - 65.3 sq m (703 sq ft)
Flat C - 48.9 sq m (526 sq ft)
Flat D - 35.8 sq m (385 sq ft)
TOTAL - 248.8 sq m (2,677 sq ft)
Terms
Tenure - Freehold
Price - Offers in excess of £1,100,000
Rateable Value - £4,650
Planning History - There is no relevant recent planning history for the property, however given the property occupies a corner plot there may be further scope for development subject to obtaining the necessary planning consent.
Specification
- Very well located investment opportunity in south-west London.
- 4 x flats and a vacant commercial unit.
- Income-producing value add opportunity