Property description

Ground floor/basement retail shop + 6 tenanted rooms–excellent residential income!-TO LET / LEASE ASSIGNMENT

Key Features
Ground floor/basement retail shop
Over 1000sqft
6 tenanted rooms
Excellent residential income
Separate entrance

Description
This retail shop is located on a busy High Street, minutes away from Elephant & Castle Station. The High Street is occupied by many household brands such as McDonalds, William Hill, M&S, Paddy Power and Tesco Express. The unit comprises of ground floor retail shop and basement. The back of the property, first and second floor have been converted to residential accommodation. We have been advised that the residential accommodation currently generates £28,500 per annum.

Elephant & Castle station (Bakerloo and Northern Lines) is 0.5 miles from the retail store providing excellent connection to Central London and rest of the system. The local area offers an excellent selection of amenities as the shops, bars and restaurants. The area is served by many bus routes and easily accessible by car via A215 and A3.

Accommodation
Ground floor:
Width/Frontage: 13” approx
Depth: 53“approx
Ground floor size: 690sqft approx

Basement:
Width/Frontage: 15” approx
Depth: 26“approx
Basement size: 390sqft approx

Total accommodation size: 1080sqft approx

Lease Term/Commencement
Our client withes to assign the lease (commenced 2002) which has 2.8 years remaining and automatically renew the lease when the term expires.

Rent
£48,000 per annum.

Premium
Original premium £50,000. NEW PREMIUM £35,000.

Legal Fees/Cost
Each party is to bear their own legal cost.

VAT
This property is not elected for VAT.

Rates
All interested parties are encouraged to make their own enquiries with London Borough of Southwark.

Viewings
By prior appointment through sole selling agents Ranson UK LTD.
Email: enquiries@ranson.co.uk
Tel: 0207 538 4057

Disclaimer
Ranson UK Limited their clients and any joint agents give notice that:
1. They have no authority to make or give any representations or warranties in relation to the property. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Ranson UK Limited have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise
        

Property Features :

• Ground floor/basement retail shop
• Over 1000sqft
• 6 tenanted rooms
• Excellent residential income
• Separate entrance