Unit 5, 254 Blackfen Road, Sidcup, Kent, DA15

Investment Consideration:
Gross Initial Yield: 8.57%
Rental Income: £15,000 p.a.
VAT is NOT applicable to this property
Comprises two-storey workshop, currently used as a business storage
Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.

Property Description:
Comprises two-storey workshop currently used as a storage. The property is accessed via private gated courtyard and provides the following accommodation and dimensions:
Workshop: 43 sq m (463 sq ft)
Ground Floor: Open plan workshop
First Floor: Open plan workshop

Tenancy:
The property is at present let to an Individual t/a Dry Storage for nearby restaurant for a term of 10 Years from 15th November 2023 at a current rent of £15,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 15.11.28 linked to RPI. Tenant option to determine on 15.11.28 with min 6 months notice. Deposit held of £3,750. Lease within Landlord & Tenant Act 1954.

Tenure:
Long Leasehold. Held on a 999 year lease from 22nd July 2024 at a ground rent of peppercorn.

Location:
Sidcup is an area of south-east London, England, primarily in the London Borough of Bexley. It is 11.3 miles south-east of Charing Cross, bordering the London Boroughs of Bromley and Greenwich. Sidcup Train Station provides the area with South-eastern services to London Charing Cross, London Cannon Street via Lewisham, Woolwich Arsenal, Dartford and Gravesend. East Rochester Way on the A2 road runs partly through the district, adjoining Blackfen Road. The road provides links to the Blackwall Tunnel and Kent. Situated on an established parade amongst the local shops and amenities of Blackfen Road. Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.