Cheam Common Road, Worcester Park Offers in the Region Of £510,000

Mixed use investment opportunity comprising a ground floor retail premises and two bedroom maisonette above separately accessed from the side of the property. The ground floor retail premises in a recently refurbished condition that is let on a 10 year lease from 11th March 2015 at a passing rent of £14,000 per annum. A three month rent deposit (£3,500) held as security and there is a tenant break option at expiration of the fifth anniversary of the term. There is a well-proportioned maisonette arranged over ground, first and second floors levels and is of a good internal condition throughout to include gas central heating and double glazing. It is arranged as open plan kitchen/living, with separate bathroom/Wc and bedroom at first floor with a further large double bedroom and bathroom at second floor level. The maisonette is currently let on an AST agreement at £1150 pcm (£13,800 per annum). The combined rental income for the property is therefore currently £27,800 per annum and the maisonette may be considered under-rented. The property also has the benefit of additional income of ground rent from two properties adjacent to the subject property. The property is for sale Freehold with the benefit of the existing tenancies and the ground floor shop investment may also be available independently at a price of £200,000.

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