The subject premises comprise a two storey building, with a double retail unit at ground level and self-contained residential accommodation above comprising two separate flats. These have been sold off on long leases. The ground floor is let to a "Lifestyle" shop, selling a wide range of items, and comprises a retail area, two studios, a stock room, W.C facilities, and a separate wash hand area. The retail area has laminate wood flooring throughout and benefits from air conditioning in part.
The premises are located at the Southern End of Creek Road (A220) virtually at its junction with Greenwich Church Street, opposite JD Wetherspoon and the DLR station. Greenwich, is a World Heritage site, with a range of Internationally known attractions, such as The Cutty Sark, Greenwich Park, Greenwich Market and Greenwich Observatory, along with a wide range of both national and independent retailers, bars and restaurants. The premises benefit from excellent transport links, with the Cutty Sark DLR station, along with Greenwich Mainline and DLR Station's, both being close by. Uber Boats (by Thames Clipper) and numerous bus routes also serve the area.
Tenure Freehold, subject to the residential upper parts at 330a and 332a having been sold off on long leasehold interests (999 year leases from 1988). Tenancy The Commercial premises is let to P.B Anand Limited, for a term of 15 years from July 2013 on effective full repairing and Insuring terms . The lease provides for upward only rent reviews at 5 yearly intervals. The current passing rent is £42,230 per annum exclusive. Each flat produces an annual ground rent of £50. Full documentation will be made available to shortlisted purchasers
The property is entered in the 2017 rating list with a total rateable value of £33,250.
It is understood that the planning usage is A1/E Class.
Offers are sought in the region of £600,000. A purchase at this price reflects a net initial yield of 6.7% assuming after purchaser's costs of 5.05%
We have been advised that VAT will not be applicable.
For further information, or to arrange an inspection, please contact sole agents Hindwoods 020 8858 9303. Kevin Bright firstname.lastname@example.org Ben Lewis email@example.com
These particulars are believed to be correct, but their accuracy is not guaranteed and they do not constitute an offer or form any part of any contract. Hindwoods and its employees have no authority to make any representation or give any warranty in relation to this property.