Vause Cribb Chartered Surveyors

Brixton Hill Freehold Investment/Development Opportunity

Sold OIEO £ 800,000

Address: 272a Brixton Hill, Brixton, SW2

Available: Immediately

Location:

An attractive freehold commercial investment with residential upper parts in a prominent position on Brixton Hill. Nearby occupiers include, Sainsbury’s Local, William Hill, and a range of local independent shops, bars and restaurants. The ground floor double fronted retail unit is occupied T & J Hair Salon with approximately seven years unexpired. The first floor comprises a one bedroom apartment and the second and third floors comprise a two bed apartment with roof terrace both in need of some redecorating. The premises also benefit from an advertising hoarding which currently produces £5,000pa.

Accommodation:

Ground Floor:Occupied by way of a 25 year FRI Lease, from March 1997, with no breaks and 5 yearly rent reviews at a passing rent of £20,000 per annum. There is a fixed uplift in July 2016 to £23,000 for the remainder of the term. The Tenant has no arrears and perfect payment record. The residential upper parts will be offered with Vacant Possession, but were until recently occupied by way Assured Shorthold Tenancies at £10,140pa and £14,600 pa respectively.

 

Ground Floor Commercial:        480 sq ft

 First Floor Flat:                         294 sq ft (475 sq ft GIA inc staircase)

 Second Floor Flat:                     650 sq ft