Passey Place, Eltham, SE9

Sold - £520,000

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  • FREEHOLD INVESTMENT
  • SHOP & 2 BEDROOM FLAT
  • 12 YEAR LEASE FROM 2012 / RENTAL £16,700pa
  • RESIDENTIAL AST AT £700 PCM
  • POPULAR LOCATION JUST OFF THE HIGH STREET
  • EPC RATING D

DESCRIPTION:

The subject property comprises a detached late-Victorian two-storey former residential house which for many years has been configured as a ground floor A1 lock up shop with cellar and a self-contained first floor maisonette. The accommodation is accessed via a private entrance door to the side of the property.

The business is that of an independent family run opticians which we are told has been advised has been trading from this site since 1964.

The commercial gross area is approximately 1,148sq.ft (106.8 sq.m) and is divided in to a sales / reception area, 2 consulting rooms, eye testing station, an office, customer and staff WC's, and a kitchen.

The cellar storage is around 130sq.ft ( 12sq.m)

MAISONETTE:
A ground floor private entrance door leads you into an entrance hall with internal staircase up to the first floor split level landing. Rooms include a lounge, kitchen, 2 bedrooms, bathroom and separate wc.
The gross internal area is approaching 650sq.ft (60.4 sq.m)

TERMS:
Freehold Investment For Sale £520,000

The shop is held on a 12 year lease which we understand commenced in September 2012. The passing rental is £16,700 per annum which is subject to 4 yearly reviews, the next being due in September 2016.

The maisonette is let on a 12 month Assured Shorthold Tenancy from January 2015 at £700 per calendar month. Research appears to show that this rent could be increased.

RATES:
We understand from a verbal enquiry from the London Borough of Greenwich the rateable value is £9,700p.a. and the payable rates are £4,656

IMPORTANT NOTICE

Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.