Guide price
£750,000
(£317.26/sq. ft)
Land for saleNew Cross Road, London SE14
2,364 sq. ft
About this property
Freehold
Mixed-use investment opportunity
1x commercial unit
1x two-bedroom split level flat
Dexters are delighted to introduce for sale this mixed-use investment opportunity containing 1nos. Retail/commercial unit and one split level, two-bedroom self-contained flat, with additional development potential subject to securing the necessary planning consents.
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 Shorthold Tenancy agreement achieving a Gross Rental Income of £2,000 per calendar month / £24,000 per annum.
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.
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.
Tenure - Freehold hm Land Registry Title Numbers LN85820.
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 Shorthold Tenancy agreement achieving a Gross Rental Income of £2,000 per calendar month / £24,000 per annum.
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.
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.
Tenure - Freehold hm Land Registry Title Numbers LN85820.
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