Industrial development for sale
Property description & features
- Tenure: Freehold
- Freehold mixed-use building comprising a ground floor commercial unit (Class-E) and 3 x apartments in the upper parts (2 x 2 beds & 1 x 1 bed)
- Ground floor is let to Medivet Group (vets), paying £27,630pax (£25psf) on a 15-year term (2039 expiry)
- Upper parts arranged as a split level 1-bed (vacant - £21,000pax ERV) and 2 x 2 beds (both let), producing £50,700pax
- ERV estimated at £99,330pax, with potential to extend to rear, refurbish & re-let or break up to enhance value/improve yield
- We are guiding at £1,525,000 for the freehold interest, equating to 6.5% gross yield on the ERV
Grange Road (A2206) is a historic road in Bermondsey, within the London Borough of Southwark.
The subject property is within walking distance (0.8 miles) to London Bridge station (National Rail, Jubilee, Northern & ThamesLink).
Hugely popular location to live and work with some of the best amenities London has to offer.
Property information from this agent
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