Guide price
£1,500,000
(£319.83/sq. ft)
Land for saleNew Cross Road, London SE14
4,690 sq. ft
About this property
Freehold sale
Mixed-use investment opportunity
3 retail/commercial units
2 two-bedroom split-level flats
Sold with tenants in situ
Potential for additional development (STPP)
Dexters are delighted to introduce for sale two adjacent freehold titles located in New Cross, London SE14 featuring a mixed-use investment opportunity containing 3 retail/commercial units and 2 fully let two-bedroom split self-contained flats.
389 New Cross Road features a vacant retail unit of circa 30.5 sq. M (328 sq. Ft.) to the front and a vacant retail unit of circa 94.5 sq. M (1,017 sq. Ft.). A split level two-bedroom self-contained flat of circa 91.0 sq. M (981 sq. Ft.) occupies the first and second floor. The property has access via its own front door on New Cross Road.
The self-contained flat is currently let on an Assured Short Hold Tenancy agreement achieving a Gross Rental Income of £1,950 per calendar month / £23,400 per annum.
391 New Cross Road features a retail unit of circa 110.6 sq. M (1,190 sq. Ft.) to the front occupying the basement and ground floor. The unit is fully let to Square Pizza / Halal Chicken achieving a Gross Rental Income of £3,000 per calendar month / £36,000 per annum. A split level two-bedroom self-contained flat of circa 109.0 sq. M (1,173 sq. Ft.) occupies the first and second floor. The property has access via its own front door on New Cross Road. The self-contained flat is currently let on an Assured Short Hold Tenancy agreement achieving a Gross Rental Income of £2,000 per calendar month / £24,000 per annum.
Situated within the London borough of Lewisham, the property is conveniently located within 110 metres of New Cross station, New Cross is an interchange station between the Windrush line of the London Overground and National Rail services operated by Southeastern, located in New Cross in south-east London. The green space of Fordham Park is within 150 metres.
Additional Development Potential
In our view, there is the potential to create additional development to the rear of 391 New Cross Road access via Grehan Mews in-line with 385 to 389 and 393 to 399 New Cross Road, subject to securing the necessary planning consents.
Tenure - Freehold hm Land Registry Title Numbers LN77684 & LN85820.
389 New Cross Road features a vacant retail unit of circa 30.5 sq. M (328 sq. Ft.) to the front and a vacant retail unit of circa 94.5 sq. M (1,017 sq. Ft.). A split level two-bedroom self-contained flat of circa 91.0 sq. M (981 sq. Ft.) occupies the first and second floor. The property has access via its own front door on New Cross Road.
The self-contained flat is currently let on an Assured Short Hold Tenancy agreement achieving a Gross Rental Income of £1,950 per calendar month / £23,400 per annum.
391 New Cross Road features a retail unit of circa 110.6 sq. M (1,190 sq. Ft.) to the front occupying the basement and ground floor. The unit is fully let to Square Pizza / Halal Chicken achieving a Gross Rental Income of £3,000 per calendar month / £36,000 per annum. A split level two-bedroom self-contained flat of circa 109.0 sq. M (1,173 sq. Ft.) occupies the first and second floor. The property has access via its own front door on New Cross Road. The self-contained flat is currently let on an Assured Short Hold Tenancy agreement achieving a Gross Rental Income of £2,000 per calendar month / £24,000 per annum.
Situated within the London borough of Lewisham, the property is conveniently located within 110 metres of New Cross station, New Cross is an interchange station between the Windrush line of the London Overground and National Rail services operated by Southeastern, located in New Cross in south-east London. The green space of Fordham Park is within 150 metres.
Additional Development Potential
In our view, there is the potential to create additional development to the rear of 391 New Cross Road access via Grehan Mews in-line with 385 to 389 and 393 to 399 New Cross Road, subject to securing the necessary planning consents.
Tenure - Freehold hm Land Registry Title Numbers LN77684 & LN85820.
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