29 Station road, 29 Station Road, London | Property for sale | Savills
Guide price £320,000

29 Station road29 Station Road, London

  • New
  • Sole agency
  • Freehold

Key features

  • High Yielding Mixed Use Investment
  • Ground Floor Retail with 2 x Flats
  • Fully Let - Producing £35,316 per annum
  • Established and Popular Location
  • Asset Management Potential
  • Guide Price Reflects 11% Gross Yield

High Yielding Mixed Use Investment Comprising a Single Ground Floor Retail Unit and Two Flats Fully Let - Producing £35,316 per annum

About this property

  • The property comprises a high yielding mixed use investment opportunity forming part of a popular street in the centre of South Norwood. Arranged across ground, first and second floors, the property offers retail accommodation to the ground floor with two residential flats above. The ground floor is currently let on a new 20 year lease to a tenant trading as a barbers from February 2024 at a rent of £12,996 per annum, the tenant is a longstanding occupier of 10+ years and the current lease is a renewal of a previous tenancy. The upper parts comprise two flats, benefitting from a shared access from street level. Both flats are let on Assured Shorthold Tenancies (ASTs) paying £12,000 per annum (£1,000 pcm) and £10,320 per annum (£860 pcm) respectively. We consider the property offers excellent diversity of income to secure and popular local tenants. We also consider there to be asset management via increasing the rents to the upper parts. The property benefits from a prominent frontage to Station Road, the principal pedestrian route to Norwood Junction Station. The amenities of Selhurst Road are immediately to the north whilst Selhurst Park football stadium is approximately 0.3 miles away. The retail frontages therefore benefit from high footfall.

Additional information

  • The ground floor is currently let on a new 20 year lease to a tenant trading as a barbers from February 2024 at a rent of £12,996 per annum, the tenant is a longstanding occupier of 10+ years and the current lease is a renewal of a previous tenancy.
  • The upper parts comprise two flats, benefitting from a shared access from street level. Both flats are let on Assured Shorthold Tenancies (ASTs) paying £12,000 per annum (£1,000 pcm) and £10,320 per annum (£860 pcm) respectively.