Available
London DA15 – 3 Shops, Workshop & Vacant Retail with Planning for 6 Flats
250-256 Blackfen Road, Sidcup, London DA15 8PWFreehold Retail & Residential Ground Rent Investment with Development Opportunity
Price
£1,650,000
Rent P.A.
£82,000
Yield
ERV: £137,000
Tenure
Freehold
Lease Term
7-10 Years
Years Left on Lease
9y 6m
Area
5,173 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Total Commercial ERV: £137,000 p.a. GIY: 8.30%
- Rent from all 4 units paid quarterly in advance
- Comprises 3 ground floor retail units and 1 two-storey workshop currently let on long FRI leases
- Includes two-storey vacant retail & gated yard at rear with prior approval granted for conversion to 6 self-contained flats (C3)
- GDV for conversion of 6 flats is circa £1.25m
- ERV of the vacant retail & yard is £55,000 p.a.
- Additional development potential through planning enhancement and extend above (airspace/infill) to increase GDV, subject to obtaining full planning
- The property also includes 2 retail units and 3 flats which have been sold-off on long leaseholds
- Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises three retail units fronting Blackfen Road, one two-storey workshop accessed via gated courtyard from Wellington Avenue and 3,000 sq ft of vacant retail space at rear, with prior approval granted for conversion to 6 self-contained flats. The property includes additional 2 retail units and 3 flats which have been sold-off on long leaseholds.
Ground Floor Retail: 159 sq m (1,710 sq ft)
Unit 1: 53 sq m (570 sq ft)
Open plan retail, storage, wc, outdoor space
Unit 2: 40 sq m (430 sq ft)
Open plan retail, storage, wc, outdoor space
Unit 3: 66 sq m (710 sq ft)
Open plan retail, storage, wc, outdoor space
Workshop: 43 sq m (463 sq ft)
Ground Floor: Open plan workshop
First Floor: Open plan workshop
Ground/First Floor Vacant Retail: 278 sq m (3,000 sq ft)
Ground Floor: 185 sq m (2,000 sq ft)
First Floor: 93 sq m (1,000 sq ft)
Sold Off: Retail Shops No`s 250,252
Sold Off: Residential Flats No`s 250a, 252a, 254a, 254b
Ground Floor Retail: 159 sq m (1,710 sq ft)
Unit 1: 53 sq m (570 sq ft)
Open plan retail, storage, wc, outdoor space
Unit 2: 40 sq m (430 sq ft)
Open plan retail, storage, wc, outdoor space
Unit 3: 66 sq m (710 sq ft)
Open plan retail, storage, wc, outdoor space
Workshop: 43 sq m (463 sq ft)
Ground Floor: Open plan workshop
First Floor: Open plan workshop
Ground/First Floor Vacant Retail: 278 sq m (3,000 sq ft)
Ground Floor: 185 sq m (2,000 sq ft)
First Floor: 93 sq m (1,000 sq ft)
Sold Off: Retail Shops No`s 250,252
Sold Off: Residential Flats No`s 250a, 252a, 254a, 254b
Tenancy Description
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Tenancies & Accommodation
Location Description
Sidcup is an area of south-east London, England, primarily in the London Borough of Bexley. It is 11.3 miles south-east of Charing Cross, bordering the London Boroughs of Bromley and Greenwich. Sidcup Train Station provides the area with South-eastern services to London Charing Cross, London Cannon Street via Lewisham, Woolwich Arsenal, Dartford and Gravesend. East Rochester Way on the A2 road runs partly through the district, adjoining Blackfen Road. The road provides links to the Blackwall Tunnel and Kent. Situated on an established parade amongst the local shops and amenities of Blackfen Road. Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.