388C Old Kent Road, London, Southwark, SE1 5AA
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Property Description
A substantial four story freehold property comprising a ground floor retail unit and 3x 1 bedroom flats situated on the ground, first and second floors. The property is prominently situated on Old Kent Road, approximately two miles south-east of Central London. The surrounding area provides a wide range of shops, supermarkets, cafés and local amenities, with Burgess Park nearby. Excellent bus services operate along Old Kent Road, providing connections towards Elephant & Castle, London Br
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(Areas for guidance only)
Ground Floor: Retail unit with basement
First Floor: One bedroom flat
Second Floor: One bedroom flat
Third Floor: One bedroom flat
Total GIA: 2,499 sq ft (232.1 sq m)
Retail Unit: Let on a 16 year lease dated 25.03.2024 at £24,750 p.a. with a rent review every 4 years.
Flat A: Let on an AST (now a Periodic Tenancy under the Renters' Rights Act 2025 at £1,500pcm (£18,000 p.a.)
Flat B: Let on an AST (now a Periodic Tenancy under the Renters' Rights Act 2025 at £1,225pcm (£14,700 p.a.)
Flat C: Currently vacant
PRODUCING £57,450 P.A. WITH ONE VACANT FLAT
Auction Surveyor: Stuart Mackay
Contact: 020 8509 4447 / 07928 456 982
stuart.mackay@strettons.co.uk
Joint Auctioneer:
* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #16] Note that in addition to the purchase price there is a buyer’s administration fee [section #11] and there may be additional non-optional fixed or variable fees and costs [section #12]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.
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388C Old Kent Road, London, Southwark, SE1 5AA
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