Freehold Investment Sale
The property comprises a mid-terrace three storey mixed use building providing ground floor commercial and self-contained three-bedroom maisonette at first and second floor level. Externally, the property benefits from a rear yard accessed via West Way. The ground floor is occupied by an electronics retailer and arranged to provide front sales area and detached workshop/outbuilding to the rear. The upper parts are accessed via a separate entrance from the rear yard and configured internally to provide three bedrooms, two bathrooms, living room and kitchen.
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 30 meters from the building providing regular direct services to London Victoria, Cannon Street, Charing Cross and London Bridge. 7 & 7a Fairway occupies a prominent position with excellent levels of passing traffic close to the junction with Station Square and West Way. Surrounding occupiers include Sainsburys Local, Costa Coffee, Iceland and The Daylight Public House.
1,784sq.ft (165sq.m)
7 Fairway: The commercial premises are let to ‘Refax Systems Ltd’ for a term of 10 years on a Full Repairing and Insuring lease (subject to a Schedule of Condition) expiring 21st July 2029. The passing rent is £15,000 (Fifteen Thousand Pounds) per annum exclusive. The lease incorporates a rent review dated 7th August 2024 (outstanding).
7a Fairway: The residential flat is let on an Assured Shorthold Tenancy (AST) dated 28th July 2023 for a term of 12 months and the tenant is currently holding over /periodic tenancy. The current rent is £1,800 (One Thousand Eight Hundred Pounds) per calendar month.
Total Income: £36,600 per annum exclusive.
Tenure: Freehold.
Price: We are instructed to seek offers in the region of £500,000 (Five Hundred Thousand Pounds) exclusive subject to the existing lease and tenancy granted. We are advised the property is not elected for VAT.
