Timbercroft Lane, Plumstead, SE18

Under Offer - £140,000

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  • VACANT LOCK UP RETAIL PREMISES
  • FLAT ABOVE ALREADY SOLD ON A 125 YEAR LEASE
  • GROUND RENT INCOME £250 PER ANNUM
  • GROUND FLOOR RETAIL AREA 540 SQ FT + ANCILLARY
  • SITUATED WITHIN A DENSLEY POPULATED RESIDENTIAL AREA

LOCATION:
Plumstead is a district of South East London located in the London Borough of Greenwich. It is located some 2 miles east of Woolwich, approx. 3.5 miles north-west of Bexleyheath and around 2 miles north of Welling.

The subject property enjoys a prominent trading position on the corner of Timbercroft Lane and Flaxton Road, directly opposite Timbercroft Primary School. Immediately surrounding is essentially a densely populated residential area.

DESCRIPTION:
The subject property comprises an end terrace two storey property constructed circa 1890 with on the ground floor a lock up retail premises with a residential flat above. The flat is already held on a 125 year lease.

We understand that the property has been in the same family hands for the past 60 years in which time the retail premises has traded as a neighbourhood convenience store.

Ground floor
A single entrance door leads in to a retail area of approximately 540sq.ft (50.2 sq. m). Behind the sales area is a kitchen 135sq.ft (12.5 sq. m) and a staff toilet.

First floor
The flat which is arranged over the first floor is being retained by the current owner and held on a 125 year lease. Access to the flat is at the rear of the building.

Ground rent paid is said to be £250 per annum.

TENURE:
We are informed that the property is freehold.

EPC:
D - 90

RATES:
We understand that the rateable value is £5,100 per annum and therefore should qualify for small business rate relief.

LEGAL FEES:
Each party are to be responsible for their own legal costs

VIEWING ARRANGEMENTS:
No direct approach may be made to the property. For an appointment to view, please contact the agent.

Hummerstone & Hawkins
144 Welling High Street
Welling, DA16 1TN
T: 0208 303 1TN

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.