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35-39 High St 1,206 SF 100% Leased Retail Building London SE20 7HJ $669,703 ($555.31/SF) 9.10% Cap Rate
Investment Highlights
- Busy high street location
- Strong footfall and rental demand
- Located within walking distance of Penge East and Penge West railway stations
Executive Summary
An excellent opportunity to acquire a fully tenanted commercial investment comprising three adjoining shops, prominently positioned on the bustling Penge High Street.
The units are all currently let, providing an immediate and reliable income stream, and will be sold together on a long leasehold interest of 999 years from 1st January 2014. Please note that the flats above the commercial units are not included within the sale.
Tenancy & Income Details:
No. 35 – Currently achieving £15,000 per annum
No. 37 – Currently achieving £15,000 per annum
No. 39 – Currently achieving £15,500 per annum
Combined, the units generate a total annual rental income of £45,500.
The units are all currently let, providing an immediate and reliable income stream, and will be sold together on a long leasehold interest of 999 years from 1st January 2014. Please note that the flats above the commercial units are not included within the sale.
Tenancy & Income Details:
No. 35 – Currently achieving £15,000 per annum
No. 37 – Currently achieving £15,000 per annum
No. 39 – Currently achieving £15,500 per annum
Combined, the units generate a total annual rental income of £45,500.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Storefront Retail/Residential
Building Size
1,206 SF
Building Class
B
Year Built
1920
Price
$669,703
Price Per SF
$555.31
Cap Rate
9.10%
NOI
$60,943
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
0.18
Lot Size
0.15 AC
Frontage
28’ on High Street
Amenities
- Storage Space
1 1
Nearby Major Retailers
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35-39 High St
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