172-174 Petts Wood Road, Petts Wood BR5 1LG

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STATUS

For Sale

DESCRIPTION

The property comprises a two storey, mid terrace, mixed use building of typical brick construction with rendered elevations set beneath part flat/part pitched roof with tile coverings. The ground floor provides self contained retail premises with front forecourt plus rear loading areas and is currently occupied by a grocery store supermarket and fitted out to the tenants preferred specification. The first floor (174) comprises a self contained two bedroom flat accessed from a private entrance via the front forecourt. Internally, 172a is arranged to provide two bedrooms, living room, bathroom and kitchen. The flat benefits from gas central heating and double glazed windows. The rear of the first floor (172b) provides a self contained office set beneath a flat roof accessed via the rear service road. Internally the accommodation is arranged to provide three offices, kitchen and bathroom.

LOCATION

Petts Wood is located within the London Borough of Bromley. The town is popular with commuters and Petts Wood Rail Station is located approximately 75 meters from the building providing direct services to London Victoria, Cannon Street, Charing Cross and
London Bridge. The subject property forms part of an established parade, close to the junction with Woodland Way and Station Square.

FLOOR AREA

3,664sq.ft (340sq.m)

TERMS

172-174 Petts Wood Road: The ground floor is let to ‘The Indian Shop Ltd’ for a term of 15 years on aFRI lease expiring 22ndMarch 2033. The passing rent is £40,000 (Forty Thousand Pounds) per annum exlusive. The rent is subject to review at 5 (Five) yearly intervals with an outstanding review dated March 2023.
174 Petts Wood Road: The self containedflat is let on aAST to private individuals for a term of 12 months from 2ndAugust 2021 at a rent of £1,200 (One Thousand Two Hundred Pounds) per calendar month.
172b Petts Wood: The self containedoffice is let on a Licence to Occupy dated 14thSeptember 2023for a term of 12 months. The current rent is £15,600 (FifteenThousand Six Hundred Pounds) per annum exlusive.

Total Income: £70,000 per annum exclusive.

Freehold – Subject to Contract. We are instructed to seek offers in region of £1,050,000 (One Million One Hundred and Fifty Thousand Pounds), subject to the occupational leases/tenancies granted. We are advised the property is not elected for VAT.