241 Lower Road, Southwark, London, SE16

Freehold mixed-use property with planning to extend in the London borough of Southwark. The property comprises a ground-floor retail unit, one bedroom apartment on the first floor and three HMO rooms - all ensuite with shared kitchen/lounge on the upper floors. The building is fully tenanted and collectively generates an income of £60,760 per annum.

Sizes:
Shop: 25 sqm/269 sqft.
Flat: 22 sqm/236 sqft
HMO: 58 sqm/624 sqft
Total: 105 sqm/1,130 sqft.

Planning permission was granted for the construction of a two-floor rear extension to create a large one-bedroom 45 sqm/484 sqft flat and increase the existing one-bedroom flat from 22 to 32 sqm/344 sqft (ref: 21/ AP/2397). The rear has planning implemented with conditions discharged.

Both commercial and residential parts are underlet and has the potential to generate an income of £90,000 per annum when developed and asset-managed.

Ideally suited to investors and developers.