5 bedroom retail property (high street) for sale

Gloucester Parade, Sidcup, Kent, DA15 8PS

Guide Price* £700,000

Property Description

Key features

  • Retail investment with residential upper parts
  • Current annual income of 50,240
  • Popular retail and residential location

Full description

For Sale by Public Online Auction on 12/12/2018 10:00

Location
The property is located in Sidcup, Blackfen approximately 16 miles (28 kilometres) south east from Central London.

The property benefits from its close proximity to the A2 and A20, which provide direct access to Junctions 2 and 3 of the M25 and Central London via Blackheath.

The property is well served by both Falconwood and Sidcup Stations, located approximately 1.4 miles (2.25 kilometres) north west and 1.7 miles (2.74 kilometres) north of the subject, respectively. Sidcup and Falconwood stations both provide direct services to London Bridge with minimum journey times of 20 minutes.

Gatwick airport is located approximately 38 miles (61 kilometres) south west of the property, and offers both domestic and international flights.

The property is situated within a mixed use predominantly residential and retail area. The property forms part of a parade of shops on the north side of Blackfen Road. Other major high street retailers within close proximity include Costa and Coral, as well as Co-Op Blackfen.


The property comprises a mixed use property comprising retail and residential accommodation arranged over ground, first and second floors. the property comprises a retail unit of some 1,030 sq ft to the ground floor with a glass frontage of some 5.95m and a maximum depth of 21.8m and is currently used as a massage parlour.

The residential element of the property comprises a HMO with five letting rooms arranged over ground, first and second floors.

Tenure
Freehold

Tenancy
The retail unit is let on a lease to an individual for a term of 5 years from 28/04/2017. There is a tenants break option in the 3rd year. The current passing rent is £11,000 per annum

The rooms in the residential HMO are let on ASTs with a combined aggregate annual income of £39,240.

Planning
London Borough of Bexley - www.bexley.gov.uk ( 020 8303 7777)

Note
Indicative debt terms have been provided to us as follows:

LTV (Gross) - 50% - 0.69% per month
LTV (Gross) - 60% - 0.73% per month
LTV (Gross) - 70% - 0.83% per month

For more information please contact Ashley Elkin - 020 7198 2063

For further information please go to www.lshauctions.co.uk


Nearest stations

  • Welling (1.0 mi)
  • Falconwood (1.1 mi)
  • Sidcup (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Lambert Smith Hampton, Auctions

UK House, 180 Oxford Street, London, W1D 1NN

020 8012 7784 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans

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Master Floorplan Image
Master Floorplan Image

To view this property or request more details, contact:

Lambert Smith Hampton, Auctions

UK House, 180 Oxford Street, London, W1D 1NN

020 8012 7784 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Welling (1.0 mi)
  • Falconwood (1.1 mi)
  • Sidcup (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Lambert Smith Hampton, Auctions

UK House, 180 Oxford Street, London, W1D 1NN

020 8012 7784 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Lambert Smith Hampton, Auctions on 0208 012 7784.


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