For Sale
On behalf of Joint Fixed-Charge Receivers
Nunhead Green & Gordon Road
17 and 17a Nunhead Green, SE15 3QQ
146-156 Gordon Road, SE15 3RP
A rare freehold investment opportunity comprising ground floor commercial space and 10 income producing private apartments.
The building previously benefited from planning permission (Ref: 04/AP/1659, granted in 2005) for the erection of a part three, part four-storey building comprising offices (Class B1), financial/professional units (Class A2), and 11 residential flats.
A subsequent planning application (Ref: 08/AP/1542, granted in 2008) allowed for the retention of two ground floor commercial units as live/work apartments which have been sold on long leasehold interests.
The saleable residential units are arranged over first, second, and third floors comprising 2 x 1 bedrooms, 7 x 2 bedrooms, and 1 x 3 bedrooms offering a total net saleable area of 607 sq. m. (6,539 sq. ft.). The ground floor commercial space (Class B1) offers a total saleable area of 78.1 sq. m. (840 sq. ft.) GIA.
The commercial unit is currently let to Wooster & Stock Estate Agents producing £24,000 per annum, whilst the 10 residential units are fully let and producing £258,336 per annum. Therefore, the total gross rental income for the building is £282,336 per annum.
There are also several ground rents included within the sale, please see the dataroom for lease information.
Located only 650 metres (0.4 miles) from Nunhead Railway Station (Southeastern Railway Line).
We are instructed to invite offers in excess of £3,300,000 which reflects an 8.55% gross yield and £447 on a per square foot capital value basis.
