Commercial Property Details

Praed Street, London

Mid Terrace (House)

For Sale

£1,500,000

***INVESTMENTS OPPORTUNITY***
The property is in a prominent position fronting onto the Praed Street, comprising a mid-terrace building arranged over basement, ground and three upper floors.
The ground and lower ground floors comprise A1 & A2 license currently rented generating 35k per annum. The upper parts are let on 3 AST's £260PW each - £40,560 and benefit from self-contained access. There is a potential of using the upper parts as both commercial and residential premises.

Property description

***INVESTMENTS OPPORTUNITY***
The property is in a prominent position fronting onto the Praed Street, comprising a mid-terrace building arranged over basement, ground and three upper floors.
The ground and lower ground floors comprise A1 & A2 license currently rented generating 35k per annum. The upper parts are let on 3 AST's £260PW each - £40,560 and benefit from self-contained access. There is a potential of using the upper parts as both commercial and residential premises.

INVESTMENTS OPPORTUNITY
MIXED USED
FREEHOLD
SHOP BASEMENT AND UPPER PARTS
PRAED STREET
BUSY ROAD CLOSE TO OXFORD STREET
TOTAL INCOME £75,560 PA
5% YIELD


CURRENT INCOME

Current income is basement office pays £9,000 on a seven year lease with 3 yearly rent reviews outside of L & T Act 1954
Currently the Ground floor mobile phone shop pays £26,000 on a ten year lease with 3 yearly rent reviews outside of L & T Act 1954

The upstairs is on three floors with three small rooms:

Flat A £13,520
Flat B £13,520
Flat C £13,520
Plus after one year on renewal of the three AST’s
£75,560 in total PER ANNUM
TOTAL INCOME TODAY


Additional Details

Property ID: 4132436 Property Views: 481 Property Type: Mid Terrace (House) Price: £1,500,000
Bedrooms: 0 Bathrooms: 0 Receptions: 0 Other Rooms: 0
Garages: 0 Parking Spaces: 0 Gardens: 0