Flat D, Milkwood Road, Lambeth, London

KEY FEATURES

Mixed-use investment: ground-floor salon and basement flat
Both let, producing £25,740 a year
Gross yield of about 12.9% at the guide price
Long leasehold: 999 years from 1 January 2009
One-bedroom self-contained basement flat
Close to Brockwell Park and Brockwell Lido
Herne Hill station about 7 to 9 minutes' walk
Popular Zone 2 location
For sale at auction at Claridge's on 28 October 2026
Unconditional auction contract, exchange on the fall of the hammer

SUMMARY
A mixed-use investment at 22D Milkwood Road, Herne Hill SE24: a ground-floor hair salon and a one-bedroom basement flat, both let and producing £25,740 a year. Held on a 999-year lease from 2009. That is a gross yield of about 12.9% at the guide price of £200,000+. For sale at auction at Claridge's on 28 October 2026.

FULL DESCRIPTION

Mixed-Use Investment: Salon and Basement Flat, Both Let, Herne Hill SE24. Guide Price £200,000+.

THE OPPORTUNITY
A fully let mixed-use investment at 22D Milkwood Road, Herne Hill, London SE24 0HH. It comprises a ground-floor hair salon and a self-contained one-bedroom basement flat, producing a combined income of £25,740 a year. At the guide price of £200,000+, that is a gross yield of about 12.9%. It will be offered at our Claridge's auction on 28 October 2026.

THE PROPERTY
The property is held on a long lease of 999 years from 1 January 2009 and comprises:

a ground-floor hair salon, let at £850 per month
a self-contained one-bedroom basement flat, let at £1,295 per month

The title includes the ground floor, the basement and the staircase, as shown on the title plan.

THE INCOME

Unit Rent (pcm) Rent (pa)
Ground-floor salon £850 £10,200
Basement flat £1,295 £15,540
Total £2,145 £25,740

Having one commercial and one residential tenant spreads the risk. The lease and tenancy details are in the legal pack.

THE LOCATION
Milkwood Road is in the heart of Herne Hill, a popular Zone 2 neighbourhood known for its independent shops, cafés, restaurants and weekly market.

Parks: Brockwell Park, with its lido and 125 acres of green space, is close by.
Rail: Herne Hill station is about 7 to 9 minutes' walk, with direct trains to London Victoria in around 12 minutes, as well as to Blackfriars and St Pancras.
Underground: Brixton, for the Victoria line, is a short bus or cycle ride away.

KEY FACTS
Tenure: Leasehold, 999 years from 1 January 2009
Accommodation: Ground-floor salon and one-bedroom basement flat
Income: £25,740 a year (salon £850 pcm, flat £1,295 pcm)
Gross yield: About 12.9% at £200,000
Guide price: £200,000+
Buyer's premium: 2% of the purchase price
Auction: 28 October 2026, Claridge's, Brook Street, Mayfair, London W1K 4HR
Lot number: TBC

AUCTION DETAILS
The property will be offered at the Palace Auctions London sale at Claridge's, Brook Street, Mayfair, London W1K 4HR, on Wednesday 28 October 2026. The guide price is £200,000+. The sale is on an unconditional auction contract. Contracts exchange on the fall of the hammer, with a 10% deposit payable on exchange. A buyer's premium of 2% of the purchase price is payable on exchange.

The property is sold subject to the existing lease and tenancy. The legal pack, including the title and the registered lease, is available on request. Buyers should read it and take independent legal advice before bidding. Buyers needing finance should speak to their lender first, as mixed-use property may need a commercial or semi-commercial mortgage.

VIEWINGS
Strictly by appointment with Palace Auctions London. Contact Edward Swindells on or .

IMPORTANT NOTICE
The rental income is provided by the seller. Buyers must check the lease, the salon lease, the flat tenancy, and any ground rent and service charge in the legal pack. The guide price is an indication of the seller's current minimum acceptable price at auction and may change. These particulars do not form part of any offer or contract.