Investment Sale
The property comprises a mid-terrace two storey mixed use building providing ground floor commercial and self-contained maisonette at upper parts which is sold off on a long leasehold basis. Externally, the property benefits from a front forecourt and rear garden/yard accessed via Woodhurst Avenue. The ground floor is occupied as ‘Queensway Tea & Bakery’ and arranged internally to provide front sales/customer seating space, kitchen/preparation area and WC. The upper parts are accessed via a separate entrance from the front of the building and comprises of a two-bedroom flat with detached garage to the rear.
Petts Wood is located within the London Borough of Bromley and lies to the North of Orpington and to the South East of Bromley. The town is well served for road transport with the M25 London orbital, M20 and A20 all within 15 minutes’ drive and is popular with commuters. Petts Wood Rail Station is located approximately 150 meters from the building providing regular direct services to London Victoria, Cannon Street, Charing Cross and London Bridge. 119 Queensway occupies a prominent main road position with excellent levels of passing traffic close to the junction with Franks Wood Avenue.
642sq.ft (59sq.m)
119 Queensway: The premises are let to ‘Petts Wood Bakery Ltd’ for a term of 15 years on a Full Repairing and Insuring lease expiring 4th April 2038. The passing rent is £20,000 (Twenty Thousand Pounds) per annum exclusive. The lease incorporates rent review provisions dated 5th April 2028 and 5th April 2033 and there are no break clauses within the lease.
119a Queensway: The upper parts are held by way of a Long Leasehold interest for a term of 72 years expiring 28th September 2057 (31 years unexpired). A ground rent of £100 per annum is payable.
Total Income: £20,100 per annum exclusive.
Freehold. We are instructed to seek offers in excess of £285,000 (Two Hundred and Eighty-Five Thousand Pounds) exclusive subject to the existing lease granted. We are advised the property is not elected for VAT.
