Retail with upper flat investment available

Key Points

• Ground floor let to Oxfam
• Upper flat let separately on an AST
• Combined annual rent is £31,600 per annum exclusive
• Available on a freehold basis
• Nearby occupiers include Tesco, McDonalds, Dominos, WH Smith, Boots and Santander
• Rear Parking

Description

The property comprises a ground floor shop with self-contained residential unit above which is accessed from the rear via a communal walkway and a metal staircase from the ground floor. There is vehicular access to the rear of the premises with on-site parking.

Location

The subject property is located on the High Street in Orpington, which is adjacent to the A232 and the A224. Orpington Train Station is located approximately 0.5 miles away. The Junction 4 of the M25 is located approximately 3.6 miles away.

Terms

We are instructed to market the building on the basis of a Freehold sale. The Title Register reference is SGL394407.

Tenancy

• The ground floor is let to Oxfam on a 5-year lease term from 17th July 2024 at a rent of £16,000 per annum exclusive. There is a Tenant Break Option on 16th July 2027. The lease is inside the security of tenure provisions within the Landlord and Tenant Act 1954.

• The upper residential flat is let on an Assured Shorthold Tenancy (AST) for a term of 12 months from 28th September 2024 to 27th September 2025 at an annual rent of £15,600. Either party has the right to terminate the tenancy at any time by giving 2 months advance written notice.

• The current total passing rent for the whole of the subject property is £31,600 per annum exclusive.

Anti Money Laundering

To comply with Anti Money Laundering regulations, Curchod & Co undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.

Legal Costs/VAT

Each side to be responsible for the payment of their own legal costs incurred in the sale. Prices are quoted exclusive of VAT which may be charged.

Energy Performance Certificate (EPC)

Ground Floor - C(66)
Upper Residential Flat - D(66)

Size

We have measured the ground floor of the subject property on a Net Internal Area (NIA) basis. We can confirm that we have not measured the upper residential flat and this area is not included in the total.