No longer on the market
This property is no longer on the market
Map3 bedroom property
Property
3 beds
Key information
Tenure: Freehold
Council tax: Ask agent
Broadband: Ultra-fast 1000Mbps *
Mobile signal:
EEO2ThreeVodafone
Features and description
- Prominent mixed-use freehold building located in Brixton, SW2.
- Comprising 3 fully let commercial units, 4 flats let on ASTs, a flat subject to a regulated tenancy, 4 ground rents, and advertisement board income.
- Currently producing £132,688 per annum, with an ERV of £193,375 per annum.
- Guide Price: £2,350,000 F/H.
The property is arranged as three self-contained commercial units over ground floor, and nine self-contained flats across the three upper floors.)
Commercial Units
There are three self-contained commercial units, arranged over the ground floor, which front Brixton Hill. The units measure circa 551 sqft, 571 sqft, and 491 sqft respectively, and all benefit from 'E' use class. All three are let on commercial leases to: an independent hairdresser, and individual operating a dry cleaners, and The Co-operative Funeralcare respectively.
Residential Units
In total there are nine self-contained flats arranged across the three upper floors (first, second & third).
Ground Rents
Four of the flats, which are separately accessed from the side of the building (on Blenheim Gardens), have been sold off on 125 year long leases. These have all been sold off in recent years, and as such, have considerable terms un-expired. Each unit is subject to a ground rent.
Assured Shorthold Tenancies
Four of the flats have not been sold, and are let on Assured Shorthold Tenancies to private individuals. All tenants are currently 'holding over', and the passing rents are all below market value.
These four flats are accessed from the front of the building (on Brixton Hill) via a separate core, and are all in reasonable condition throughout - providing three bedrooms, a separate kitchen & living room, and a bathroom.
Regulated Tenant
The remaining flat is subject to a regulated tenancy, and is also a three bedroom unit of the same size and layout as the others let on ASTs. This flat is in need of cosmetic refurbishment.
Advertisement Board
There is an advertisement board facing the busy Brixton Hill, which is let to Primesight Limited.
We believe the property is likely to be of interest to investors seeking a prominent and historic building, located in the heart of Brixton, with the opportunity to add value through management of leases/tenancy agreements, and refurbishment/airspace development (stpp).
Commercial Units
There are three self-contained commercial units, arranged over the ground floor, which front Brixton Hill. The units measure circa 551 sqft, 571 sqft, and 491 sqft respectively, and all benefit from 'E' use class. All three are let on commercial leases to: an independent hairdresser, and individual operating a dry cleaners, and The Co-operative Funeralcare respectively.
Residential Units
In total there are nine self-contained flats arranged across the three upper floors (first, second & third).
Ground Rents
Four of the flats, which are separately accessed from the side of the building (on Blenheim Gardens), have been sold off on 125 year long leases. These have all been sold off in recent years, and as such, have considerable terms un-expired. Each unit is subject to a ground rent.
Assured Shorthold Tenancies
Four of the flats have not been sold, and are let on Assured Shorthold Tenancies to private individuals. All tenants are currently 'holding over', and the passing rents are all below market value.
These four flats are accessed from the front of the building (on Brixton Hill) via a separate core, and are all in reasonable condition throughout - providing three bedrooms, a separate kitchen & living room, and a bathroom.
Regulated Tenant
The remaining flat is subject to a regulated tenancy, and is also a three bedroom unit of the same size and layout as the others let on ASTs. This flat is in need of cosmetic refurbishment.
Advertisement Board
There is an advertisement board facing the busy Brixton Hill, which is let to Primesight Limited.
We believe the property is likely to be of interest to investors seeking a prominent and historic building, located in the heart of Brixton, with the opportunity to add value through management of leases/tenancy agreements, and refurbishment/airspace development (stpp).
Property information from this agent
About this agent
As one of London and Kent's most successful property companies with 35 years experience and 40 offices, we strive to deliver a service that is unparalleled by our competitors. Our team appreciate that your home is likely to be your most treasured asset. Therefore whether we are selling, letting or assisting in a purchase, our priority is to ensure each client is treated with care and consideration.