Comprises a substantial and prominent property which has traded as an Oriental restaurant for over 40 years, which is now available due to retirement of the owners.
The ground floor comprises a fitted restaurant premises trading as King Palace, which is to be offered with vacant possession. The first floor comprises restaurant kitchen plus a storage/staff room/bedrooms. We are advised that the second floor is currently utilised as two residential units and the third floor comprises office/storage space for the restaurant. To the rear there are two storage buildings and a car parking space.
Our clients consider that the property offers considerable potential for further refurbishment and development possibly by the adaption of the first and third floors to provide further residential units subject to the grant of any planning permission required.
Orpington is a prosperous town 16 miles to the south of central London and 5 miles from Bromley. The Town benefits from good road connections and regular rail services to various London Mainline stations. Situated in a prominent position, at the junction of High Street/Station Road, the property is adjacent to the Orpington War Memorial roundabout and the Tesco Superstore with car parking. Surrounding occupiers include Tesco, McDonalds, Cash Converters and William Hill Bookmakers.
Offers invited in the region of £950,000 (Nine Hundred and Fifty Thousand Pounds). We are advised that our clients currently have four residential tenants all occupying accommodation on assured short hold tenancies producing a gross rental income of approximately £37,200 pax.