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London Road 1074 London Rd 1,525 SF 100% Leased Retail Building Thornton Heath CR7 7ND $793,332 CAD ($520.22 CAD/SF) 7.65% Cap Rate
Investment Highlights
- Freehold mixed-use investment
- Rear garden and service access
- Three-storey brick-built property
Executive Summary
Freehold mixed-use investment comprising a three-storey end of terrace building arranged as a ground floor Class E commercial unit with a self-contained split-level maisonette above. The commercial accommodation extends to approximately 611 sq ft and is let on a 20-year lease from July 2024 at a rent of £17,500 per annum, with five-yearly upward-only rent reviews and security of tenure under the Landlord & Tenant Act 1954. The residential maisonette extends to approximately 914 sq ft and is occupied on a statutory periodic tenancy at £15,000 per annum. The property benefits from a rear garden of approximately 605 sq ft and vehicular access via a rear service road from Warwick Road. Total passing rent is £32,500 per annum. Offers are sought in excess of £425,000 for the freehold interest, subject to the existing tenancies.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
1,525 SF
Building Class
C
Year Built
1900
Price
$793,332 CAD
Price Per SF
$520.22 CAD
Cap Rate
7.65%
NOI
$60,667 CAD
Percent Leased
100%
Building Height
3 Stories
Building FAR
0.35
Lot Size
0.10 AC
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Nearby Major Retailers
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London Road | 1074 London Rd
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