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MapGuide price
£1,250,000Mixed use for sale
96-98 Sidcup High Street, Sidcup, Kent
Mixed use
Key information
Tenure: Freehold
Council tax: Ask agent
Features and description
- Prominent freehold for sale in Sidcup
- Comprising Ground Floor Bar/Restaurant & Four flats
- Commercial let for to Loungers for £85,000 p/a (13 years unexpired)
- Flats sold off on long leasehold basis
- C.54 years remaining on residential leases
- Guide Price - £1.25m
An opportunity to purchase a prominent freehold property located in the centre of Sidcup High Street comprising a large ground floor commercial unit and four flats on first and second floors which are sold off on a long leasehold basis.
The Ground floor commercial unit is currently let to Loungers UK Limited on a brand new 15-year FRI lease from January 2024 and therefore has 13 years unexpired at a current passing rent of £85,000 per annum with 5 yearly upward only, market rent reviews (January 2029 & January 2034). The four flats which are located across first and second floor levels offer reversionary value as they are owned on 99-year leases which commenced in September 1980 meaning they currently have 54 years unexpired.
The Ground floor commercial unit is currently let to Loungers UK Limited on a brand new 15-year FRI lease from January 2024 and therefore has 13 years unexpired at a current passing rent of £85,000 per annum with 5 yearly upward only, market rent reviews (January 2029 & January 2034). The four flats which are located across first and second floor levels offer reversionary value as they are owned on 99-year leases which commenced in September 1980 meaning they currently have 54 years unexpired.
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.