Guide price
£1,250,000
Property for sale96-98 Sidcup High Street, Sidcup, Kent DA14
Freehold
About this property
Prominent freehold for sale in Sidcup
Comprising Ground Floor Bar/Restaurant & Four flats
Commercial let for to Loungers for £85,000 p/a (13 years unexpired)
Flats sold off on long leasehold basis
C.54 years remaining on residential leases
Guide Price - £1.25m
An opportunity to purchase a prominent freehold property located in the centre of Sidcup High Street comprising a large ground floor commercial unit and four flats on first and second floors which are sold off on a long leasehold basis.
The Ground floor commercial unit is currently let to Loungers UK Limited on a brand new 15-year Fri lease from January 2024 and therefore has 13 years unexpired at a current passing rent of £85,000 per annum with 5 yearly upward only, market rent reviews (January 2029 & January 2034). The four flats which are located across first and second floor levels offer reversionary value as they are owned on 99-year leases which commenced in September 1980 meaning they currently have 54 years unexpired.
The Ground floor commercial unit is currently let to Loungers UK Limited on a brand new 15-year Fri lease from January 2024 and therefore has 13 years unexpired at a current passing rent of £85,000 per annum with 5 yearly upward only, market rent reviews (January 2029 & January 2034). The four flats which are located across first and second floor levels offer reversionary value as they are owned on 99-year leases which commenced in September 1980 meaning they currently have 54 years unexpired.
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Monthly repayment
£6,253 per month
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