New Cross Road, London, SE14
Size
4,690
Tenure
Freehold
EPC
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Parking
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- Primary use
- Mixed use
Key features
- Freehold sale
- Mixed-use investment opportunity
- 3x retail/commercial units
- 2x two-bedroom split-level flats
- Sold with tenants in situ
- Potential for additional development (STPP)
Description
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.
389 New Cross Road features a retail unit of circa 30.5 sq. m (328 sq. ft.) to the front. The unit is fully let on a 10-year lease from December 2025 achieving a current Gross Rental Income of £1,250 per calendar month / £15,000 per annum. To the rear is a vacant retail unit of circa 94.5 sq. m (1,017 sq. ft.) accessed via Grehan Mews to the rear of New Cross Road.
Estimated Rental Value (ERV) £1,667 per calendar month / £20,000 per annum.
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 Shorthold Tenancy agreement achieving a Gross Rental Income of £2,100 per calendar month / £25,200 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 Shorthold Tenancy agreement achieving a Gross Rental Income of £2,000 per calendar month / £24,000 per annum.
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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- Listed building
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Brochure
New Cross Road, London, SE14
About DEXTERS LONDON LIMITED, South London
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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