226-228 Brownhill Road, London

The property comprises a high yielding mixed use investment benefitting from a prominent high footfall pitch and an attractive long income stream.

Arranged as two ground floor and basement retail units with six flats to the upper parts, the property is fully let and producing a total rent of £36,025 per annum.

The ground floor units are let on separate 10 year leases with expiries 30.06.2035 and producing £18,000 per annum per unit (£36,000 total).

The upper parts comprise six flats, and are let on a single long leasehold to Southern Land Securities Limited expiring 08.02.2112 (87 years unexpired) and paying £25 per annum. In turn, the long leaseholder has granted six underleases with various expiry dates. The property includes four rear car parking spaces which are assigned to the residential units.

We understand that four underleases have approx. 61 years unexpired and therefore should an underlessee wish to extend their lease, the head lease would also need to be extended, creating an opportunity for an extension premium.

THe property benefits from a prominent frontage to Brownhill Road, a principal arterial route benefitting from high footfall. The surrounding area is characterised by similar mixed use and local retailers with central Catford approx 0.5 miles to the west.