Commercial property for sale in Shakespeare Road, London SE24

Location:
The property is located on the West Side of Shakespeare Road, near the junction with Mayell Road. The property sits on the boundary of Herne Hill and is located near Brockwell Park & Lido. The nearest transport routes are to be found at Brixton Town Centres, which is 0.4 miles away.

Description:
A substantial mixed use property arranged over basement, ground & first floor of this semi detached period property. The first floor comprises a flat which has been sold off on long lease and the basement and Ground floors are let to a local church. Excellent floor to ceiling heights - gf approx. 3M and basement approx. 2.1m.

Development:
We are of the opinion that the premises could be re-purposed to provide 2-3 flats, once vacant possession is obtained from the occupational tenants. This may be enabled via Class ma Permitted Development but shall also require planning permission for further alterations. Prospective buyers should seek independent advice and satisfy themselves prior to any purchase.

Accommodation Schedule:
The property offers the following (NIA) approximate dimensions.

Sq Ft Sq M
Floor: Ground Floor: 1614 149.95
Basement: Total: 762 70.80
Total: 2,376 220.75

Tenure:
Freehold, subject to existing long leasehold of the first floor flat and occupational lease of the basement and ground floor.

Tenancies:
Ground Floor, Basement and Rear Yard The commercial unit is subject to a 6 year lease expiring 16th September 2026 let to Believers Home Chapel. The passing rent is £19,200 per annum exclusive with a rent review on the 5th anniversary of the letting.

1st Floor Apartment The residential apartment is subject to a 999 year long lease from 2012 (988 years remaining). Ground Rent £50 per annum doubling every 100 years.

Total income: £19,250 per annum

Terms:
Offers in excess of £400,000. A purchase at this level reflects a very low capital value of £168.35 per Sq Ft when compared to residential resale's which are in excess of £750 per Sq Ft.

Aml:
In accordance with Anti-Money Laundering Regulations, we shall require additional information from the purchaser/tenants so that an online verification can be undertaken.