58 London Road, Forest Hill, London

An excellent opportunity to acquire a freehold commercial investment in the popular Forest Hill, comprising a ground and lower ground floor commercial unit measuring 1,597sqft, with residential accommodation above, the latter having been sold off on a long lease, producing a secure and attractive income.

The ground floor commercial/retail unit is let to Acorn Estate Agents, part of the Leaders Romans Group (LRG), at a current rent of £27,750 per annum. The premises are held on a 15-year lease to LRG from 1 October 2014. LRG is a well-established national estate agency and property services business, providing covenant strength and income security.

The residential flat above, accessed separately to the side of the commercial unit, has been sold off on a long lease and does not form part of the sale, aside from the benefit of the ground rent income of £250 per annum.
The total current income is £28,000 per annum.

The property is offered at a guide price of £375,000, reflecting a gross yield of 7.46%.