A Substantial mixed use freehold property, located in West Norwood and comprising of ground floor shop with storage and studio apartment to the rear. Upper parts consists of 9 rooms lets on AST’s (Tenancy schedule available on request)
The property is located within a busy parade of the A215 Knights Hill. West Norwood is a vibrant town center located in the Borough of Lambeth. Crystal Palace and Dulwich are located to the East of town and Streatham and Balham to the West.
The property in question is a mid-terrace four story traditionally brick built dwelling with pitched roof and storage units to the rear. The property is let to its full capacity, the shop is currently vacant and not producing income, as is the store and studio at the rear. All the 9 upper rooms are let on ASTs generating circa £45,000 per year, with full occupancy on all rental parts, estimated income increases to circa £75,000 per year.
There is plenty of ways to add value either by adding a further room in the loft area, refurbishing the current rooms and increasing rents, seeking planning permission for a flat scheme at the rear STPP.
Viewings by appointment only, please call Joe Mourat on 0208 313 0010.