Opportunity to purchase a mixed use, freehold property in an ever-popular area in South West Central London. The property currently consists of a commercial unit on the ground floor and 6 x studio flats on the upper three floors. The property produces a yearly income of £79,800. £61,800 p/a for the 6 flats and £18,000 p/a for the commercial unit.
There are 2 years and 10 months left on the commercial lease and the residential units are all let out on 6 month rolling contracts to young professionals. The property has an HMO license.
Situated on South Lambeth Road, the property is located within 0.5 miles of Stockwell Station which is on both the Northern and Victoria lines and has a travel time of 11 minutes to London Bridge. Vauxhall station is also located within 0.5 miles of the property and has a travel time of 15 minutes to St Pancras.
Herbert Morrison Primary school and St Stephen’s Church of England school are both within 0.3 miles of the property and the property is located within a shopping parade playing host to number of amenities including convenience shops and restaurants.
|Unit||Size (Sft)||Price (p/a)|
|Residential – Studio||185||£9,600|
|Residential – Studio||249||£12,000|
|Residential – Studio||163||£9,000|
|Residential – Studio||144||£9,300|
|Residential – Studio||271||£12,000|
|Residential – Studio||169||£9,900|