280A Broadway, Bexleyheath, DA6 8AJ

Freehold Investment comprising commercial retail space and storage.

1,200,000

5,507 sq ft

investment

Sean Crowhurst

Commercial Agency

Jamie Smith

Commercial Agency

Key features

commercial demise is let to City Plumbing Supplies Holdings Ltd on a 5-year lease, producing £55,000 per annum. The lease is inside the security of tenure provisions of the Landlord & Tenant Act 1954 Part II, expiring June 2029
A rare and extensive freehold asset, with title demise totalling 0.13 acres.
Potential for rental growth by way of precedent on recent lettings.
Sold subject to the existing tenancies

Upper flats have been let on AST’s, and currently producing the following: Flat 1 - £12,600 per annum, Flat 2 - £13,800 pa., Flat 3 - £15,000 pa
Prominent position in the Broadway, which is well established as a popular local retail destination.
Potential for value add through development at the rear, subject to obtaining possession and the necessary consents.
Total rents of £96,400 per annum, reflecting 7.61% NIY assuming standard purchaser's costs, and 8.03% Gross, at the guiding figure