01322 524 425

Bexley Road, Erith Offers in the Region Of £375,000.00

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  • RARE TO MARKET 47 YEARS IN SAME FAMILY
  • LARGE CORNER DETACHED UNIT
  • INVESTMENT WITH GOOD UPWARD TRENDING INCOME
  • UPPER ANCILLARY
  • INCOME FROM TELEPHONE MAST
  • INCOME FROM ADVERTISING
  • FORECOURT
  • LARGE REAR GARDEN WITH END PLOT
  • SCOPE FOR REDEVELOPMENT


NEW INSTRUCTION RARE TO MARKET since 1972 FREEHOLD DETACHED CONVENIENCE STORE WITH LARGE UPPERS PRODUCING £17,000 WITH POTENTIAL FOR REVIEW TO £21500 per annum and scope for rear development to several flats.

Harpers and Co are delighted to offer this rare to market (same family hands for 47 years) detached corner property which comprises ground floor corner convenience store on the busy Bexley Road comprising retail area to front and cold cabinets and store to rear. The upper floor is accessed internally, and provides access to a number of ancillary rooms used as store rooms and a bathroom and WC. STP and access this could easily be converted into an upstairs flat.



The property also benefits from additional income such as Telephone mast producing £2500 pa and additionally £500pa from an advertising hoarding to the front forecourt. We are informed that both of these rents and the overarching Tenants rent are all due for renewal and their is scope to increase the rent to over £21,000.00

N.B It must also be stressed that the garden measuring some 28 metres in length and 4.9 in width certainly has some significant planning potential and so applicants are advised to make their own enquiries with bexley Planning.

Offered free hold for OIRO £375,000.00 All viewings done by Sole Agents Harpers and Co by Appointment Only.


Location

This unique to market imposing corner unit is located on the busy Bexley Road in Northumberland Heath Erith. This main arterial road enjoys excellent footfall and vehicular trade. Bexley Road is 1.2 miles from Barhehurst mainline station with fats trains to London Bridge and Charring Cross and good vehicular access into Central London.

Description

This detached corner unit in a previous incarnation was a detchaed house. In more recent times it has been used as a commercial conveneicne store with forceourt, retail shop to ground floor with store rooms to rear and several ancillary store rooms to the uppers. The ground floor is typical of a convenience store with a secure roller blind, advertising hoarding, lighting and several chiller cabinets. To the rear there is a small store room and the hub of the telephone mast which leads to the roof. The first floor accessed from inside the shop to the rear is by way of a narrow staircase and provides 3 rooms all used for storage. The upper parts are in poor condition and could well benefit from updating and refurbishment.

Terms

The Freehold of the building is offered as a freehold investment for offers in the region of £375,000.00. Current income is approximately £17,0000 but we are informed will shortly be in CIRCA £19500 POSSIBLY MORE.

VAT

This property is not elected for VAT and so no VAT is payable.

Legal Costs

Each party is to pay their own legal costs in this transaction.

Rates

We are informed that the current tenant pays zero rates as the property falls under the rate able value and is eligible for small business rates relief. Applicants are advised to make their own enquiries to confirm this.

Harpers & Co Special Remarks

We love the potential that this rare to market unit has by way of rental uplift which is underway, huge development scope to the rear in the yard and especially as a precedent has been set opposite WITH THE ADJACENT BUILDING GETTING SEVERAL FLATS ON THE SAME PLOT.. An interesting lot requiring serious enquiries only.


Bexley Road
Erith DA8 3HG
County: Greater London
Sale Type: For Sale
Ref #: 00001327

P: 01322 524425

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