8 Bedroom Commercial Property (Now Sold)

272-274 Knights Hill, London

Further Information
Tenure
Freehold
Key Features
  • Refurbished roof coverings
  • Common main entry to flats
  • Tanked basement walls and floor
Full Description

THE PROPERTY IS SITUATED AT THE SOUTHERN END OF THE A215 KNIGHTS HILL CLOSE TO ITS JUNCTION WITH THE A214 CROWN LANE AT CROWN POINT. THIS IS A VERY BUSY INTERSECTION FORMED BY TRUNK ROADS LINKING WEST NORWOOD WITH SOUTH NORWOOD AND CRYSTAL PALACE WITH STREATHAM. THE AREA HAS A VERY A GOOD BUS NETWORK AND BENEFITS FROM BEING WALKING DISTANCE FROM BOTH NORWOOD PARK AND STREATHAM COMMON. THE PROPERTY IS A DETACHED VICTORIAN BUILDING THAT HAS BEEN ARRANGED TO PROVIDE A LOCK-UP A3 TAKE-AWAY RESTAURANT ON THE GROUND FLOOR AND BASEMENT, A 2 BEDROOM FLAT ON THE GROUND FLOOR REAR AND 2 X 2 BED AND 2 X 1 BED FLATS ARRANGED OVER THE FIRST AND SECOND FLOORS. THE FLATS ALL BENEFIT FROM GAS FIRED CENTRAL HEATING AND UPVC DOUBLE-GLAZING AND ARE ALL CURRENTLY ON ASSURED SHORTHOLD TENANCIES. CURRENTLY GENERATING £48,600.00 PA FOR SALE SUBJECT TO THE EXISTING TENANCIES ON COMMERCIAL AND THE RESIDENTIAL UNITS. A minimal spend of approx £50k to refurb the flats would potentially double the current rental income given current market tends, this property is a solid investment with loads of potential.

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