Commercial properties for sale in Selhurst, Croydon, Surrey, this area only

The subject property comprises a residential block providing 16 apartments, arranged as 6 studios, 5 one-bedroom apartments and 5 two-bedroom apartments. The property is arranged as a terrace-style block fronting Gloucester Road, with accommodation over ground, first and second/roof levels. The building is of traditional masonry construction beneath a pitched tiled roof, with dormer and rooflight accommodation at upper level. Internally, the apartments provide practical, modern accommodation with fitted kitchens, contemporary bathroom fittings, with wood and carpet flooring throughout. The property also benefits from three rear car parking spaces, dedicated bin storage and ancillary external areas, with each apartment understood to be separately serviced and individually metered.

A mid-parade, brick-built, two-storey commercial property extending to approximately 1,400 sqft (NIA), with a rear yard. The property is let to a takeaway operator on a 10-year FRI lease expiring in 2034. Recently refurbished internally and in fair decorative order, the property produces a current passing rent of £21,600 per annum, reflecting an attractive gross yield of 8.6%.

A unique opportunity to acquire this commercial unit in a well-known South London area, South Norwood, which is housed within the ground floor of this period 2-storey building. Internally the commercial unit is c.72sqm/775sqft NIA, which is currently occupied by a hair/nail salon who are holding over on a lease (outside of the act) with only a 3-months' notice required. The commercial tenant is currently paying £10kpa, with the ERV expected to be c.£15k/£16kpa (c.8.6/9% gross yield). Vacant possession can be offered. The flat upstairs is sold off on a long lease.