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Northborough Road (R), London SW16 Plot for sale
253 Northborough Road, Streatham, London SW16
£575,000
253 Northborough Road, Streatham, London SW16
£575,000
Our Summary
- Freehold investment / development opportunity for sale Prominent corner plot - Shop & Flat above with rear yard / gardenDescription - Mixed use investment / development opportunity for sale
- First Floor Flat: Let on a new 12 month AST from 1st October 2024 No break clause Passing rent £19,260 paFront Forecourt: Advertising hoarding, holding over, passing rent £250 paRear Yard: circa 1,141 sq ft - could be let separately - residential tenant has been allowed to use (not included in AST)Terms - Guide Price £575,000 Freehold - Subject to planning offers are not being consideredPlanning - No applications have been made - The site has clear potential for extension / conversion / demolition and new build subject to the relevant consentsViewings - Contact sole agents Christopher St James
Description
This is a freehold investment/development opportunity for sale, situated on a prominent corner plot on Northborough Road, Norbury. The property comprises a mixed-use unit, featuring an E-class commercial unit on the ground floor, a 2-3 bedroom residential flat above, and a rear yard/garden area. The ground floor shop is let on a 16-year FRI lease, with a passing rent of £11,500 per annum, while the first-floor flat is let on a 12-month AST at a passing rent of £19,260 per annum. The front forecourt is also let, with an advertising hoarding and a passing rent of £250 per annum. The property has potential for extension, conversion, or demolition and new build, subject to the relevant consents. The guide price is £575,000, and the property is being sold freehold, with the vendor not considering any offers.