A three storey mixed-use commercial and residential building comprising double shop unit and basement with three residential flats above.
Planning Permission was granted to add a further two residential flats which expires on 19th April 2022, thus offering further potential, subject to all necessary Planning Consents being obtainable.
Bostall Hill is located within the popular South East London area of Abbey Wood in close proximity to local transport, shopping and Abbey Wood station providing rail transport links via Thameslink and South Eastern services.
Arranged as a double shop unit, with two separate front entrances. Shared toilet, storeroom, sink and hot water supply.
Gated yard with storage at the back and side of the shop units.
At the time of publication the Auctioneers have been unable to internally inspect the property. These details have been provided by the seller and interested applicants should rely on their own investigations to verify the information provided.
The ground floor commercial space is let on a Tenancy at Will for £1,000 per a month. A sublet of part of this commercial space has been granted with the sub-tenant paying £500 to the tenant under the Tenancy at Will. Since February 2022 the sub-tenant has paid directly to the freeholder this rent of £500 with the tenant under the Tenancy at Will paying the remainder £500.
The three residential flats are let as follows:
One is let on an Assured Shorthold Tenancy and two are on rolling one year leases. Together they produce a total annual income of £32,400 (monthly income of £2,700). Please refer to the legal pack for further details.
Planning Permission was granted by the Royal Borough of Greenwich under reference: 18/1129/F, dated 17th April 2019, for construction of a three storey side extension, construction of an additional storey on existing rear extension, loft conversion, addition of two residential units and alterations to residential mix to create a total of five residential units (2 x studio unit, 1 x one bedroom, 1 x two bedroom and 1 x three bedroom), subject to conditions. The Planning Permission expired on 19th April 2022.
A copy of the Planning Permission and accompanying documents may be downloaded from the Local Planning Authoritys website, Royal Borough of Greenwich. Tel: 020 8854 8888. Website: royalgreenwich.gov.uk.