Vause Cribb Chartered Surveyors

Freehold Retail Investment - East Dulwich SOLD

Sold OIRO £ 400,000

Address: 47 North Cross Road, East Dulwich, SE22

Terms: £400,000

Available: Immediately on completion of legal formalities

Use Class: A1

Location:

Located in a prime position on North Cross Road just off Lordship Lane, this fantastic little retail investment is ideally situated in the Heart of East Dulwich. North Cross Road is a wonderfully vibrant street that offers independent shopping in close proximity to the main retail parades of Lordship Lane. Nearby occupiers include Lloyds Pharmacy, Tierra Verde, Oliver Bonas,  Jo Partridge, White Stuff, Stella B, Gourmet Burger Kitchen, Foxtons and a range of local independent retailers, Cafes, Restaurants and estate agents.

Accommodation:

An attractive, Victorian terraced retail shop and uppers currently trading as a well-established local, independent, family run greengrocer which has operated from the site for in excess of 20 years.

The unit has recently been re-let to the existing tenants, at a passing rent of £24,000 per annum by way of a new FRI Lease for a term of nine years, with three yearly upward only rent reviews.

It is our belief that the property offers excellent potential for future rental growth as the area is further developed and gentrified. Recent comparable evidence in the locality confirms our views, but interested parties are advised to make their own investigations and seek appropriate advice from a professional.

Commercial:                IA new nine year FRI Lease from 24th March 2015 with three yearly upward only rent reviews between the Landlord and Nicholas and Crystal Burgess

Residential:                 One residential flat sold on 999 year Lease at a peppercorn ground rent.