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Southend Lane, Sydenham, London SE6

A MIXED USE INVESTMENT WITH PLANNING PERMISSION FOR FIVE ADDITIONAL FLATS
For sale
  • Located on a local high street and less than a five minute walk from Lower Sydenham National Rail Station.
  • Lower Sydenham offers frequent and direct trains to London Charing Cross and Cannon Street Stations.
  • Arranged as a commercial unit on the ground floor and three floors of residential above.
  • The ground floor measures 3,325 sq ft and is let on a single tenancy to a car bodywork repair garage until April 2027, at a passing rent of £40,962 pa.
  • The upper parts comprise ten flats – eight of which are sold off, together with garages, with 47 years remaining and producing a total ground rent income of £560 pa.
  • The remaining 2 x 3 bed flats are let on ASTs producing a total of £33,600 pa.
  • As such the total annual passing rent is £75,872 pa.
  • Planning permission was granted by Lewisham Council (ref: DC/21/123733) in March 2022 for the construction of an additional storey to provide 5 x 1 bed flats with a total proposed NIA of 2,718 sq ft.
  • A CIL payment is required totalling £55,861.
  • Freehold.
  • We are instructed to seek offers in excess of £1,500,000 (One Million, Five Hundred Thousand Pounds) subject to contract
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