Units 1,2,3,5, 254 Blackfen Road, Sidcup, Kent, DA15
Fixed Price
£795,000
£464.91 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
1,710 sq ft
159 sq m
- SECTOR
High street retail property for sale
- USE CLASSUse class orders: Class E
E
Key features
- Rental Income: £67,000 p.a.
- Gross Initial Yield: 8.43%
- Each unit let on 7/10 year leases from 2023
- Rent reviews linked to RPI every 5 years
Description
Investment Consideration:
Gross Initial Yield: 8.43%
Rental Income: £67,000 p.a.
Each unit let on 7/10 year leases from 2023
Rent reviews linked to RPI every 5 years
VAT is NOT applicable to this property
Comprises retail parade of 3 ground floor shops
Each shop newly fitted out in 2023
Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.
Property Description:
Unit 1:
Comprises ground floor retail shop, with allocated outdoor space at front which is suitable for car parking or retail area, providing the following accommodation and dimensions:
Ground Floor: 53 sq m (570 sq ft)
Open plan retail, Storage, WC, Outdoor Space
Unit 2:
Comprises ground floor retail shop, with allocated outdoor space at front which is suitable for car parking or retail area, providing the following accommodation and dimensions:
Ground Floor: 40 sq m (430 sq ft)
Open plan retail, Storage, Outdoor Space
Unit 3:
Comprises ground floor corner shop, with allocated outdoor space at front which is suitable for car parking or retail area, providing the following accommodation and dimensions:
Ground Floor: 66 sq m (710 sq ft)
Open plan retail, Storage, Outdoor space
Tenancy:
Unit 1:
The property is at present let to Macies Ltd for a term of 7 Years from 1st December 2023 at a current rent of £22,500 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.12.28 linked to RPI. No breaks. Deposit held of £5,625.
Unit 2:
The property is at present let to an Individual t/a Barber Shop for a term of 10 Years from 15th November 2023 at a current rent of £19,500 p.a. and the lease contains full repairing and insuring covenants. Rent review on 15.11.28 linked to RPI. Tenant option to determine on 15.11.28 with min 6 months notice. Deposit held of £4,875.
Unit 3:
The property is at present let to Lumi Skin London Ltd t/a Sunbed Shop (with personal guarantee) for a term of 7 Years from 15th December 2023 at a current rent of £25,000 p.a. and the lease contains full repairing and insuring covenants. Rent review in December 2028 linked to RPI. No breaks. Deposit held of £6,250.
Tenure:
Long Leasehold. Held on a 999 year lease from 22nd July 2024 at a ground rent of peppercorn.
Location:
Sidcup is an area of south-east London, England, primarily in the London Borough of Bexley. It is 11.3 miles south-east of Charing Cross, bordering the London Boroughs of Bromley and Greenwich. Sidcup Train Station provides the area with South-eastern services to London Charing Cross, London Cannon Street via Lewisham, Woolwich Arsenal, Dartford and Gravesend. East Rochester Way on the A2 road runs partly through the district, adjoining Blackfen Road. The road provides links to the Blackwall Tunnel and Kent. Situated on an established parade amongst the local shops and amenities of Blackfen Road. Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.
Gross Initial Yield: 8.43%
Rental Income: £67,000 p.a.
Each unit let on 7/10 year leases from 2023
Rent reviews linked to RPI every 5 years
VAT is NOT applicable to this property
Comprises retail parade of 3 ground floor shops
Each shop newly fitted out in 2023
Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.
Property Description:
Unit 1:
Comprises ground floor retail shop, with allocated outdoor space at front which is suitable for car parking or retail area, providing the following accommodation and dimensions:
Ground Floor: 53 sq m (570 sq ft)
Open plan retail, Storage, WC, Outdoor Space
Unit 2:
Comprises ground floor retail shop, with allocated outdoor space at front which is suitable for car parking or retail area, providing the following accommodation and dimensions:
Ground Floor: 40 sq m (430 sq ft)
Open plan retail, Storage, Outdoor Space
Unit 3:
Comprises ground floor corner shop, with allocated outdoor space at front which is suitable for car parking or retail area, providing the following accommodation and dimensions:
Ground Floor: 66 sq m (710 sq ft)
Open plan retail, Storage, Outdoor space
Tenancy:
Unit 1:
The property is at present let to Macies Ltd for a term of 7 Years from 1st December 2023 at a current rent of £22,500 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.12.28 linked to RPI. No breaks. Deposit held of £5,625.
Unit 2:
The property is at present let to an Individual t/a Barber Shop for a term of 10 Years from 15th November 2023 at a current rent of £19,500 p.a. and the lease contains full repairing and insuring covenants. Rent review on 15.11.28 linked to RPI. Tenant option to determine on 15.11.28 with min 6 months notice. Deposit held of £4,875.
Unit 3:
The property is at present let to Lumi Skin London Ltd t/a Sunbed Shop (with personal guarantee) for a term of 7 Years from 15th December 2023 at a current rent of £25,000 p.a. and the lease contains full repairing and insuring covenants. Rent review in December 2028 linked to RPI. No breaks. Deposit held of £6,250.
Tenure:
Long Leasehold. Held on a 999 year lease from 22nd July 2024 at a ground rent of peppercorn.
Location:
Sidcup is an area of south-east London, England, primarily in the London Borough of Bexley. It is 11.3 miles south-east of Charing Cross, bordering the London Boroughs of Bromley and Greenwich. Sidcup Train Station provides the area with South-eastern services to London Charing Cross, London Cannon Street via Lewisham, Woolwich Arsenal, Dartford and Gravesend. East Rochester Way on the A2 road runs partly through the district, adjoining Blackfen Road. The road provides links to the Blackwall Tunnel and Kent. Situated on an established parade amongst the local shops and amenities of Blackfen Road. Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.
Brochures
Units 1,2,3,5, 254 Blackfen Road, Sidcup, Kent, DA15
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Welling Station1.0 miles
- Falconwood Station1.1 miles
- Sidcup Station1.2 miles
Notes
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