Offers over
£750,000
(£310.30/sq. ft)
Property for sale53 Norbury Crescent, Norbury, London SW16
2,417 sq. ft
Added on
Acorn - Bromley Commercial
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About this property
Nursery Investment For Sale in Norbury
Let to 'Purple Panda Nurseries Limited' Company Number 07671487
15-year lease from 31/03/2023
Passing rent of £60,000 per annum
Guide price: £725,000 (8.27% return)
An opportunity to purchase a freehold commercial investment providing long-term income. The building extends to approximately 2,417sqft and is arranged over ground, first and second floors, with the added benefit of a private rear garden complete with an outbuilding.
The property is let to Purple Panda Nurseries Limited, who have been in occupation since 2023. The lease is for a term of 15 years, incorporating open market rent reviews every five years, as well as tenant-only break options at the same intervals, with the next break option due in March 2028.
We believe the property will appeal to investors; however, it also appears to offer longer-term potential for conversion into residential accommodation (STPP). Please note that the commercial lease is contracted inside the provisions of the Landlord and Tenant Act 1954.
A purchase at the guide price would reflect a Gross Initial Yield of 8.27% and a capital value of c.£300 per sqft.
The property is being sold by Acorn Commercial on the instructions of Cripps Trust Corporation Limited pursuant to a court order. It is available for immediate purchase, subject to the existing tenancy agreement.
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