Traditionally built commercial ground floor shop and basement.
Self contained residential upper parts arranged over two floors. Comprising 2 bedrooms, kitchen, reception, & shower room.
The building Forms part of a terrace of similar shops and upper parts.
The property flat is in good condition and is decorated to a high standard. The overall building is in reasonable condition for its style and age, however, there are a few minor repair items which can be undertaken as part of planned routine maintenance programme.
Location
SITUATION - Brixton is located 2.7 miles (4.3 km) from Central London and its convenient transport links via the London Underground Victoria Line and Brixton Rail Station, it is a popular destination for both residents and visitors alike. It has often been seen as a more affordable alternative to Southwest London neighbours Clapham, Balham and Stockwell. However, with a desirable stock of period housing and trendy new build developments, combined with an ever-increasing demand from tenants and buyers, rental and capital values have increased significantly in recent years.
LOCATION - The property is located within close proximity to the junction Brixton Station Road and Brixton Road (A23). Near to Brixton Underground Station and Mainline Railway Station. Brixton Station Road consists of a 1900 built terrace, currently shops, cafes bars, restaurants, The Road is also characterised by street market stalls and railway arch. There are commercial units of cafes and bars on the opposite side of the Road. Local occupiers include TK Max.
Accommodation
Basement - Kitchen - 18.57 sq m (199.81 sq ft)
Ground Floor - Retail - 17.84 sq m (191.95 sq ft)
First Floor - Residential - 32.08 sq m (345.18 sq ft)
Second Floor - Residentail - 32,49 sq m (349.59 sq ft)
TOTAL - 100.98 sq m (1,086.54 sq ft)
Terms
TENURE - Freehold.
EPC - Available on request.
PLANNING - The property lies within the area covered by Lambeth Council, which is the Local Planning Authority. The present use is fully in accordance with current Planning Law.
SUMMARY OF LEASE/TENANCY - Retail ground floor and basement leased to Judy Park under an assignment of the lease to Boom Burger Limited, guaranteed by John Coolum Bute signed lease dated 6th January 2015, term of lease 10 years from 15th December 2014. Current rent at £32,000 per annum.
Residential upper parts comprising self-contained flat arranged over first and second floors, let on an assured shorthold tenancy, for £2,000.00 per calendar month.
The total passing annual rent is £56,000 per annum.
PROPOSAL - We have been instructed by the vendor to seek offers in the region of £1,000,000 subject to contract.
LEGAL COSTS - Each party to be responsible for their own legal costs incurred in this transaction.
Specification
- Retail over ground and basement
- Self Contained residential upper floors
- Retail rent £ 32,000 pa.
- Freehold
- 1,086.54 sq. ft. GIA ( 100.98 sq.m.)
- Residential Let on an AST at £2,000 pcm
- Total Rent £56,XXXa
- Offers sought in the region of £1,000,000