Westmoreland Road, Southwark, London

This period mixed-use building is well-located in a secondary parade just off the busy Walworth Road.
Offered for sale for the first time in more than 30 years, the property was previously operated as a pet shop by our client. Since her retirement the ground floor E class unit has been let, whilst she has remained in occupation of the upper flat.
The shop extends to approx. 882sqft and benefits from a garage (currently used as a room) and rear access via Queen’s Row. Trading as a barber shop and recording studio the passing rent is £13,400; with the lease expiring in August 2027. The shop appears to offer potential for sub-division and possible redevelopment of the rear parts fronting Queen’s Row (stpp). Even without any development the ground floor is substantially under-let, with market rent in the region of £25,000pax.
The upper two floors are arranged as a 2 bedroom flat with small roof terrace. Accommodation extends to approx. 1,142sqft and requires modernisation throughout. Potential appears to exist for the extension of the building to allow for sub-division and the creation of an additional unit (stpp). Alternatively, the property could be operated as an HMO (stpp).
With various active management angles and vacant possession available in less than a year this property is likely to appeal to investors, developers and owner-occupiers alike.