Commercial Property, Westmead Road, Sutton, SM1
Westmead Road, Sutton, SM1
Allen Heritage
Description
For Sale – Freehold Investment to include 6 Garages:
Allen Heritage are delighted to offer this attractive South London freehold ground rent and garage investment.
The opportunity comprises the freehold reversions of 8 long-leasehold flats together with 6 garages let on monthly licences.
The flats are all held on long leases with between 132–148 years unexpired. Current ground rent income stands at £835 per annum from 8 flats, with these leases containing doubling provisions every 25 years, rising to between £2,400 and £8,000 each by the latter part of their terms. Ground rent is not payable on one of the flats (Peppercorn lease).
The garages now produce a strong and consistent income stream of £9,360 per annum, with all rents recently reviewed and increased to £130 per month.
In total, the investment produces £10,195 per annum, reflecting a gross yield of 6.8% at the asking price of £150,000.
This is a rare opportunity to acquire a secure, income-producing freehold with both immediate and long-term growth prospects, underpinned by a highly sought-after South London location.
Key Features
- 6 garages with strong local demand and scope for rent uplift
- Freehold reversions of 8 flats (132–148 years unexpired)
- Producing an annual income of £10,195
- Attractive 6.8% yield at guide price
- Long-term rent review uplifts
Property Details
- Property type: Commercial Property
- Council Tax Band: TBD
Location
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