This property comprises two adjacent freehold titles in New Cross, offering a mixed-use investment opportunity with considerable potential for enhancement. It includes three retail/commercial units and two self-contained flats, accommodating diverse income streams. Located only meters from New Cross station, connecting the London Overground and National Rail services, this position benefits from excellent transport accessibility and proximity to green spaces like Fordham Park.
The front retail unit of 389 New Cross Road measures approximately 30.5 sq. m (328 sq. ft.) and is currently leased with a solid rental income of £1,250 per month until December 2025. In contrast, a larger vacant retail unit at the rear spans around 94.5 sq. m (1,017 sq. ft.) and offers an exciting opportunity for development with an estimated rental value of £2,083 per month.
Above the retail space are two well-sized self-contained flats; one at 389 New Cross Road generating £2,100 monthly rent and another at 391 New Cross Road yielding £2,000 monthly from a total of four bedrooms across both flats. The ground floor retail unit at 391 New Cross Road is fully let to established tenants bringing in £3,000 per month.
Moreover, there's additional development potential noted for the rear area of 391 New Cross Road that could align with neighbouring properties—subject to obtaining the required planning permissions—offering the savvy investor a chance to expand or enhance the existing footprint significantly.
