Property for sale
Property description & features
- Tenure: Freehold
- Size: 900
- Freehold Building
- Prime Location
- Great potential STPP
- Close to Tooting Broadway tube station
- Income Producing Rental Income
- VAT applicable - No
Commercial premises: a traditional shoe and repair shop occupying prime town centre trading location over 900sqft with WC facilities and kitchenette to the rear of unit. There is under stairs storage space plus outside space which is covered with a flat roof. The commercial space is sub-divided in two parts; front aspect is for sale/display of shoes and rear aspect occupies heavy machinery for the repair of shoes. The owner of the establishment has worked in the business for over 50 years as a shoe cobbler. The premises are now lying idle as the gentleman has retired and there is no current turnover. We are informed, by the owner that the business rates are approximately £3,600 per annum. Theres no VAT on the purchase of this building and the collective building including the premises are bought on a FREEHOLD basis.
First floor flat: one bed recently refurbished and rented out at £1,300pcm. Total Internal area approx.326sqft. Top floor flat: one bed flat achieving a lower rent in todays market at £1,000pcm. More dated, but bigger internal area approx. 454sqft.
Potential to add value - STPP - by building over the extended rear aspect of commercial premises. In addition, you can convert the extended part into a residential unit and keep the commercial entity at the front. Potential to convert top floor one bed flat into a two bed with rear dormer. In addition, potential to increase the passive income by adding leaseholder to the commercial premises.
Potential to add value - STPP – by building over the extended rear aspect of commercial premises. In addition, potential to increase gross rental yield by adding leaseholder to the shop. This would generate an annual passive income of at least £60k along with the two existing buy to let flats.
Tooting Broadway offers an array of shops, cafes and restaurants. Plus, great transport links including Northern Line tube station and various bus links.
Tenure: Freehold
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 04012022-S2. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by JC Living - Kings Cross.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.