Description & Tenure:
The subject building is situated over three floors:
Ground Floor – Public House – Circa 5,000 Sq Ft
First Floor – Offices – 3,600 Sq Ft
Second Floor – Modern Residential accommodation – 2,100 Sq Ft & 1,500 Sq Ft of developable roof terraces (STPP).
Further development available in Car Park and single storey additions to flank and rear (STPP).
The ground floor is let at £75,000 Per Annum with an outstanding upwards only review as at March 2023.
The first floor is let at £45,000 Per Annum.
The second floor has a rental value of £45,000 Per Annum.
All of the ground and first floor leases have been structured so that they all expire on 24th March 2028 for the purpose of redevelopment.
Vacant possession of the second floor would also be provided upon completion.
The site also benefits from a rear car parking area suitable for up to 12 vehicles.
Furthermore, the site opposite (EDF) is currently vacant and it is in the local authority plan to develop the site “EDF and Albion Road corner” for a large mixed use scheme with over 250 residential units.
Please refer to Page 38 of the Bexleyheath Development and Improvement Framework.
https://www.bexley.gov.uk/sites/default/files/2020-05/Bexleyheath-Development-and-Improvement-Framework.pdf
Location
Location:
The subject property is located fronting the Broadway near to the junction with Albion Road.
The unit benefits from substantial passing trade with the Broadway being a main thoroughfare carrying traffic travelling to and from Bexleyheath town centre.
The town has a busy shopping centre with a good mix of both local and national retailers.
The area enjoys good road links with easy access to the A2 trunk road linking to London, the M25 and Dartford Crossing plus the M2.
Bexleyheath has its own mainline train station which is around half a mile and offers a journey time into London Victoria, Charing Cross and Cannon Street of between 35 & 45 minutes.
Accommodation
Accommodation:
Circa 11,600 Sq ft over three floors & large site.
Terms
Legal Costs:
Each party to cover own legal costs.
Viewing:
Viewing to be made by appointment with Surveyline Chartered Surveyors on
0208 304 3440 / james@surveyline.com