53 Norbury Crescent, Norbury, London

An opportunity to purchase a freehold commercial investment providing long-term income. The building extends to approximately 2,417sqft and is arranged over ground, first and second floors, with the added benefit of a private rear garden complete with an outbuilding.

The property is let to Purple Panda Nurseries Limited, who have been in occupation since 2023. The lease is for a term of 15 years, incorporating open market rent reviews every five years, as well as tenant-only break options at the same intervals, with the next break option due in March 2028.

We believe the property will appeal to investors; however, it also appears to offer longer-term potential for conversion into residential accommodation (STPP). Please note that the commercial lease is contracted inside the provisions of the Landlord and Tenant Act 1954.

A purchase at the guide price would reflect a Gross Initial Yield of 8.27% and a capital value of c.£300 per sqft.

The property is being sold by Acorn Commercial on the instructions of Cripps Trust Corporation Limited pursuant to a court order. It is available for immediate purchase, subject to the existing tenancy agreement.