Offers in region of
£1,100,000
Property for sale74-76 Elmers End Road, Penge, London SE20
Added on
Acorn - Bromley Commercial
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About this property
Freehold, mixed-use investment for sale
4 flats in upper parts (fully let and managed)
Ground floor commercial units fully let to established hardware/decorating store
Current rent roll £80,400 per annum
Erv £96,000 per annum
Oiro £1,100,000 F/H (7.3% Yield)
An attractive opportunity to acquire a mixed-use investment with active asset management potential.
The investment comprises two neighbouring mid-parade mixed-use properties. The buildings were originally constructed in the mid-1900s, with a later rear extension known as Edward House.
The property is currently arranged to provide a ground floor commercial unit at 74-76 Elmers End Road, let to a hardware retailer; and four fully let one-bedroom flats on the upper floors, accessed from the rear of the property.
With an existing investment yield of 7.3% with the property considered under-let, there is significant opportunity to increase the yield via active management.
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