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6 The Pavement, Clapham Common SW4 Investment for sale

£1,425,000

Property description

    Property features

  • Investment
    (Investment)
  • Dimensions: 185 m2
    (1994 ft2)

A rare opportunity to acquire a highly sought-after investment freehold in a superb location overlooking Clapham Common. The prominent four-storey building offers both commercial and residential space, over the ground, first, second and third floor totaling 1,994 sq ft.

The commercial is over the ground floor only with a kitchen and WC to the rear. The unit is currently occupied by Lane Eight Coffee. To the upper parts, there is a spacious unmodernised 4 bedroom flat, let out on a single AST. To the rear, the garden extends approximately 34 m and benefits from additional access via a back passage. The freehold is provided fully income-producing and benefits from reversionary asset management and development opportunity (STP).

Location: The property is prominently positioned on the western end of Clapham High- street, within the borough of Lambeth in the South of London. Clapham High Street is the main through road and shopping area in Clapham and due to this the property benefits from having great footfall and being highly accessible, with excellent road, rail and underground links nearby. Clapham Common Underground Station is opposite the property and Clapham High Street Station is a short walk away, providing access to the Nothern and South London line. Clapham Common Underground is exceptionally popular with commuters, with over 9 million users each year. The property is also opposite Clapham Common bus stop which provides access to areas such as Elephant & Castle, Stockwell and Crystal Palace. The property lies in a highly desirable spot in Clapham, the High-street boasts a vibrant mix of restaurants, cafés and shops. Little Waitrose is the neighboring property and other retailers in the vicinity include Barclays bank, Starbucks, Pret a manger and Iceland Foods.

Terms & conditions: The commercial accommodation is occupied by Lane Eight Coffee (A1 use) have recently signed a new 10-year FRI lease from May 2021, with a passing rent of £35,000 per annum and 5 yearly rent reviews. The commercial demise does not include the garden. Lane Eight Coffee are a popular and high-end coffee store and café. To the rear of the property, EE has erected a mast providing an income of £2,840 per annum on a rolling yearly contract. The residential is let on a 12 month AST from October 2020 at £2,753.35 per calendar month. The current total income for this property is £70,793 per annum exclusive.

Business rates: We have been advised that as of the 1st April 2017 the rateable value is £24,496 per annum. Rates payable are in the region of £12,223 per annum, we would strongly advise any interested parties to discuss this with the local council for a precise figure.

Sale: We are instructed to seek offers in excess of £1,425,000 for the property freehold.

Additional information

Tenure

Freehold

Nearest stations

  • Clapham Common (0 miles)
  • Clapham High Street (0.4 miles)
  • Clapham North (0.5 miles)

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