Location
The property is situated in Maple Road, close to the junction with High Street, Penge.
Description/Accommodation
The property comprises a three storey brick built semi-detached property comprising a double fronted ground floor retail unit with self contained residential upper parts.
The ground floor retail area operates as a Butchers/Grocery Retail Outlet with the following approximate net internal floor areas.
Maple Court comprises ten residential flats which have been sold off on long leases, six of which are produce ground rents at £300 per annum ie a total of £1,800 per annum.
Approximate net internal areas
Retail Sales
92.25 sq m - 993sq ft
Ancillary
19.93 sq m - 215 sq ft
Total
112.18 sq m - 1,208 sq ft
Tenancy Details
The ground floor is let to Yasir Mohiuddin and Fahad Abbas on a new effective full repairing and insuring lease for a term of 15 years from 1st December 2017 (an extension of their current tenancy) at £24,500 per annum exclusive, subject to rent reviews at the 5th and 10th years.
Terms
The freehold interest subject to the lease of the ground floor and long leases above.
Price
£350,000 plus VAT (if applicable), Subject to Contract.
Business Rates
According to the Government website the property has a Rateable Value of £19,750 The UBR for 2023/24 is 49.9p in the £. The residential flats are Tax Band B.
Legal costs
Each Party to bear their own legal costs incurred in the transaction.
Energy Performance Certificate
Awaiting Energy Performance Certificate
Benefits include
More informationArrange an inspection
Strictly by appointment with Sole Agents
Gildersleve & Payne: 01883 723888
Nick Payne
Email: nickp@gpcommercial.co.uk
Property Misdescriptions Act 1991 Please note the agents have not carried out a survey, have not made planning enquiries nor tested any of the equipment, apparatus, fixtures, fittings, services or land and are therefore not able to verify their condition, or suitability for their purpose
Code of Practice Applicants should be aware that the code of practice on commercial leases in England and Wales strongly recommends you seek professional advice from a qualified Surveyor, Solicitor or Licenced Conveyencer before agreeing or signing a Business Tenancy Agreement. The Code is available through professional institutions and trade associations or through the website www.leasingbusinesspremises.co.uk
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