Property for sale
Property description & features
LOCATION:-The property is situated fronting the busy London Road in the centre of Mitcham at its junction with Raleigh Gardens in a corner position. London Road is the main link between Mitcham and Sutton and the property benefits from vast quantities of passing vehicular traffic which is particularly heavy during the rush hour periods. There are bus stops immediately outside the block and a good deal of pedestrian foot-flow generated by nearby schools and other retail. Mitcham is a densely populated catch which the parade is able to service. Nearby multiples include a large British Heart Foundation furniture store, Greggs and KFC.
DESCRIPTION:- The property comprises a freehold commercial investment comprising a substantial building arranged over lower ground, ground, first, second and third floors. The upper floors and basement car park is subject to a head lease. The property has a car parking area to the rear subject to rights of way of the head lessee and commercial lessees. The property comprises 7 no. commercial units of varying sizes, all let and producing a total income of £152,000 per annum exclusive. There is unused basement space beneath the largest unit in the block that may have the potential to become income producing subject to suitable access being agreed. There is the prospect of the receipt of an overage payment from the head lessee, upon the receipt of full planning for the exploitation of the air space and there may be some other potential to add value, subject to discussion with the head lessees.
As it stands the property comprises a high yielding commercial investment providing an unbroken parade of 7 units.
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Energy Performance data and Internal floor area
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