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New Cross Road, London, SE14

Key features

  • Freehold sale
  • Mixed-use investment opportunity
  • 3nos. retail/commercial units
  • 2nos. 2-bedroom split-level flats
  • Sold with tenants in situ
  • Potential for additional development (STPP)

Description

Dexters are delighted to introduce for sale two adjacent freehold titles located in New Cross, London SE14 featuring a mixed-use investment opportunity containing 3nos. retail/commercial units and 2nos. fully let two-bedroom split self-contained flats.

389 New Cross Road features a vacant retail unit of circa 30.5 sq. m (328 sq. ft.) to the front and a vacant retail unit of circa 94.5 sq. m (1,017 sq. ft.). A split level two-bedroom self-contained flat of circa 91.0 sq. m (981 sq. ft.) occupies the first and second floor. The property has access via its own front door on New Cross Road.
The self-contained flat is currently let on an Assured Short Hold Tenancy agreement achieving a Gross Rental Income of £1,950 per calendar month / £23,400 per annum.

391 New Cross Road features a retail unit of circa 110.6 sq. m (1,190 sq. ft.) to the front occupying the basement and ground floor. The unit is fully let to Square Pizza / Halal Chicken achieving a Gross Rental Income of £3,000 per calendar month / £36,000 per annum. A split level two-bedroom self-contained flat of circa 109.0 sq. m (1,173 sq. ft.) occupies the first and second floor. The property has access via its own front door on New Cross Road. The self-contained flat is currently let on an Assured Short Hold Tenancy agreement achieving a Gross Rental Income of £2,000 per calendar month / £24,000 per annum.

Situated within the London borough of Lewisham, the property is conveniently located within 110 metres of New Cross station, New Cross is an interchange station between the Windrush line of the London Overground and National Rail services operated by Southeastern, located in New Cross in south-east London. The green space of Fordham Park is within 150 metres.

Additional Development Potential
In our view, there is the potential to create additional development to the rear of 391 New Cross Road access via Grehan Mews in-line with 385 to 389 and 393 to 399 New Cross Road, subject to securing the necessary planning consents.

Tenure - Freehold HM Land Registry Title Numbers LN77684 & LN85820.

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New Cross Road, London, SE14

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About Dexters Development & Investment, South London

Dexters Wimbledon, 12 The Broadway London SW19 1RF

Our dedicated team of specialists have a well-established track record in gaining our clients more than the market value for land/development/investment projects and new developments in London. We are members of RICS and our qualified chartered surveyors uphold their reputation for integrity and professionalism.

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Disclaimer - Property reference NewCrossRoad2. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Dexters Development & Investment, South London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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