3 bedroom property for sale
Key information
Property description & features
- Tenure: Freehold
- 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.
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
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Broadband availability and predicted speed: obtained from Ofcom on January 17, 2022
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
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Mobile phone signal availability and predicted strength: obtained from Ofcom on January 17, 2022
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
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