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57-59 South End 3,992 sq ft Retail Property Croydon CR0 1BF £1,550,000 (£388.28/sq ft) 6.21% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Ground and First Floors let to RSR Co Ltd T/A Butt Karahi on a new 15 year lease at a rent of £65,000 per annum exclusive
- The property is a modern three-storey building built in the early 1960’s being of brick construction under a flat roof
- 2No. self contained flats at second floor, recently converted to a high standard and which are currently vacant
- In 2001 a new two-storey extension was added to the front of the building.
EXECUTIVE SUMMARY
Tenure: Freehold
Price
Offers of £1,550,000 (One Million and Five Hundred and Fifty Thousand Pounds) subject to contract for the freehold interest in the entire property,
which reflects an attractive initial yield (based on the ERV) of approximately 6.21% after deducting normal purchasers costs.
Price
Offers of £1,550,000 (One Million and Five Hundred and Fifty Thousand Pounds) subject to contract for the freehold interest in the entire property,
which reflects an attractive initial yield (based on the ERV) of approximately 6.21% after deducting normal purchasers costs.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
3,992 sq ft
Costar Property Class
B
Year Built
1960
Price
£1,550,000
Price per sq ft
£388.28
Yield
6.21%
NOI
£96,255
Tenancy
Single
Number of Floors
2
Plot ratio
1.60
Total Plot Size
0.06 ac
Frontage
51 ft on South End
AMENITIES
- Security System
1 1
NEARBY MAJOR RETAILERS
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57-59 South End
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