The property is a four storey semi-detached building internally altered to form five self-contained flats situated on a large corner plot. The five flats comprise of 1x 3 bed, 2 x 2 bed and 2 x 1 bed along with a large communal garden. The garden has clear development potential for an extension of the existing semi-detached building. The building may also be suitable for other alternative uses such as offices, nurseries, education, doctors’ practices or place of worship (subject to a change of use).
The flats are all tenanted and are on standard AST’s. The property is currently under rented and generates an income of only £66,000 per annum with an ERV of £120,000 per annum.
This is a rare value add opportunity to extend the existing building, reconfigure the internals as there are high ceilings and unutilised space and significantly increase the rents.
Location
The property is situated in the London Borough of Lewisham. It is a short walk fromthe Forest Hill Train station (0.3miles).
This station provides direct access to London Bridge in 20 minutes. In addition, the local High Street is a short walk away with plenty of amenities nearby including the Horiman Museum and Dulwicth Park. The A205 is situated directly outside the property which offers direct access into Richmond and Greenwich. The A23 runs on the western part of the property which which offers direct access into Surrey and Central London. South London.
There are multiple bus routes nearby including the 176 which offer connectivity to the rest of Gatwick Airport is 6 0 minutes drive and is accessible via the M23. Heathrow Airport is 65 minutes drive away and is accessible via M4.
Accommodation
Unit 86A - 89 sq m (958 sq ft)
Flat 1A - 34 sq m (366 sq ft)
Flat 1B - 36 sq m (388 sq ft)
Flat 2 - 65 sq m (700 sq ft)
Flat 3 - 66 sq m (710 sq ft
TOTAL - 290.4 sq m (3,122 sq ft)
Terms
Tenure - Freehold for sale
(Title number: 263628)
Price - Offers in the excess of £1,550,000
VAT - The property is not VAT elected