Available
London SE6 – 3 Flats & Ground Rent
127 Rushey Green, Catford, London SE6 4AAFreehold Residential & Retail Ground Rent Investment
Price
£895,000
Rent P.A.
£51,000
Yield
5.70%
Tenure
Freehold
Lease Term
12 Months
Years Left on Lease
1y
Area
1,528 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises Ground Floor Takeaway (Sold-Off) and 3 Flats Above (2 x 2-Bed and 1 x 1-Bed)
- Flats refurbished to a high quality standard in 2021
- Total area size of 142 sq m (1,528 sq ft)
- Nearby occupiers include Catford Shopping Centre, Barclays, KFC, Argos, Nando's, Domino's and Post Office, amongst others.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises restaurant/takeaway at ground floor with 2 x 2-bedroom flats and 1 x 1-bedroom flat above, providing the following accommodation and dimensions:
Ground Floor: Takeaway 156 sq m (1,679 sq ft)
Seating area, Reception, Kitchen, Storage, Office, WC
First Floor: 2-Bed Flat 50 sq m (538 sq ft)
Kitchen/Living Room, 2 Bedrooms, Bathroom
Second Floor: 2-Bed Flat 50 sq m (538 sq ft)
Kitchen/Living Room, 2 Bedrooms, Bathroom
Top Floor: 1-Bed Flat 42 sq m (452 sq ft)
Kitchen/Living Room, 1 Bedroom, Bathroom
Total area size: 298 sq m (3,207 sq ft)
Ground Floor: Takeaway 156 sq m (1,679 sq ft)
Seating area, Reception, Kitchen, Storage, Office, WC
First Floor: 2-Bed Flat 50 sq m (538 sq ft)
Kitchen/Living Room, 2 Bedrooms, Bathroom
Second Floor: 2-Bed Flat 50 sq m (538 sq ft)
Kitchen/Living Room, 2 Bedrooms, Bathroom
Top Floor: 1-Bed Flat 42 sq m (452 sq ft)
Kitchen/Living Room, 1 Bedroom, Bathroom
Total area size: 298 sq m (3,207 sq ft)
Tenancy Description
The Retail Shop is at present let to Dynasty Investments Limited t/a German Doner Kebab (GDK*) for a term of 15 years from 12th July 2018 at a current rent of £45,000 per annum and the lease contains full repairing and insuring covenants. Rent review on 12.06.2026 and 12.06.2030. No Breaks. Break clause was removed by Deed of Variation dated 15.10.2019.
Flat 127A is at present on AST to an Individual for a term of 12 Months from 10th June 2021 (Holding Over) at a current rent of £16,155 p.a.
Flat 127B is at present on AST to an Individual for a term of 24 Months from 14th July 2021 at a current rent of £16,155 p.a.
Flat 127C is at present on Guaranteed Rent Agreement to N & N Property Management Limited for a term of 12 Months from 30th April 2021 (Holding Over) at a current rent of £13,800 p.a.
*Note - GDK has more than 100 stores worldwide.
Source: www.germandonerkebab.com
Flat 127A is at present on AST to an Individual for a term of 12 Months from 10th June 2021 (Holding Over) at a current rent of £16,155 p.a.
Flat 127B is at present on AST to an Individual for a term of 24 Months from 14th July 2021 at a current rent of £16,155 p.a.
Flat 127C is at present on Guaranteed Rent Agreement to N & N Property Management Limited for a term of 12 Months from 30th April 2021 (Holding Over) at a current rent of £13,800 p.a.
*Note - GDK has more than 100 stores worldwide.
Source: www.germandonerkebab.com
Tenancies & Accommodation
Location Description
Catford is a district of south east London, England, and the administrative centre of the London Borough of Lewisham. It is southwest of Lewisham itself, mostly in the Rushey Green and Catford South wards. The district is served by two railway stations, Catford and Catford Bridge. Catford Station provides Thameslink services to Kentish Town, London Blackfriars, Orpington via Bromley South and to Sevenoaks via Bromley South and Swanley. Catford Bridge Station is served by South-Eastern services to London Charing Cross, London Cannon Street via Lewisham and to Hayes. The district`s main road is A205 South Circular which crosses South London, running from Woolwich in the east to the junction of the A406 (North Circular Road), the M4 and the A4 at Gunnersbury in the west. Nearby occupiers include Catford Shopping Centre, Barclays, KFC London, Argos, Nando`s, Domino`s and Post Office, amongst others.
