The property comprises of a three storey terrace/corner mixed commercial and residential property. The commercial element is well filled by the current tenants with a modern shop front, the upper parts are sold off on long leases.
Location
The property is situated fronting Streatham High Road at the corner junction with Mitcham Lane in a prominent but secondary position towards the southern end of the High Road. The property is just a short walk from Streatham mainline station which provides overground access into Central London and surrounding areas. Streatham High Road forms part of the main A23 commuter route and is a busy thoroughfare and bus route and the property benefits from vast quantities of passing vehicular traffic. Mitcham Green provides modest open spaces immediately to hand and the wider expanses of Streatham Common are also within walking distance. The property shares the vicinity with mainly secondary and local traders but there are some multiple representations nearby.
Accommodation
The property is let under secure leases. Therefore, only external viewing is available.
Terms
Use/Planning
We understand the property currently falls within Class A2 of the current Town & Country (Use Classes) Order to the ground and basement with the first floor being B1 (Office) use and the second floor being a residential flat which have both been sold off on long leases.
Tenure
The property is offered freehold subject to the commercial lease on the ground floor and basement let to Oaks Estate Agents Limited for a term of 10 years from May 2015 at a current rental of £XXX per annum exclusive.
The two upper parts are subject to two long leases, the first floor being an office under a new 125 year lease at £XXX per annum ground rent and the second floor arranged as a flat under a 99 year lease from 2003 at a ground rent of £XXX per annum.
Price
£XXX (Six hundred and ninety nine thousand nine hundred and ninety five pounds) is sought for our client’s freehold interest.
VAT
All rental and capital figures quoted within these details are exclusive of V.A.T. unless otherwise stated.