This property consists of two adjacent freehold titles in New Cross, London SE14, presenting a compelling mixed-use investment opportunity. The portfolio includes three retail/commercial units and two self-contained two-bedroom flats that are currently fully let, providing immediate rental income.
The first title at 389 New Cross Road features a vacant retail unit of approximately 30.5 sq. m (328 sq. ft.) and another larger vacant unit measuring about 94.5 sq. m (1,017 sq. ft.), both offering potential for various commercial uses or redevelopment. Above these spaces is a split-level flat spanning approximately 91 sq. m (981 sq. ft.), which has its own separate entrance and is currently generating a gross rental income of £1,950 per calendar month (£23,400 annually) under an Assured Short Hold Tenancy agreement.
The second title at 391 New Cross Road includes an occupied retail space of roughly 110.6 sq. m (1,190 sq. ft.) that operates on both the basement and ground floors, leased to Square Pizza / Halal Chicken with a monthly rental income of £3,000 (£36,000 yearly). The upper floors house another split-level flat of around 109 sq. m (1,173 sq. ft.) with similar tenancy arrangements as the other flat, contributing £2,000 per month (£24,000 annually).
Located within the London Borough of Lewisham, the property offers excellent access to public transport being merely 110 meters from New Cross station—an interchange for the Windrush line and Southeastern National Rail services—facilitating convenient commutes across London. Nearby green space at Fordham Park enhances the locality's appeal.
Additionally, there is potential for further development opportunities at the rear of 391 New Cross Road via Grehan Mews, aligning with neighboring properties subject to necessary planning approvals—this aspect could significantly enhance investment returns.
Overall, this property not only provides stable income streams but also allows for strategic renovations or expansion that can maximize its value in a burgeoning area of South-East London.
