This property presents a noteworthy mixed-use investment opportunity in the vibrant area of New Cross, London SE14. Comprising two adjoining freehold titles, it features three commercial units alongside two self-contained two-bedroom flats. The location is particularly advantageous, being just 110 meters from New Cross station, providing easy access to both London Overground and Southeastern National Rail services. Fordham Park's greenery is a mere 150 meters away, adding to the locality's appeal.
The first title at 389 New Cross Road houses a retail unit of approximately 30.5 sq. m (328 sq. ft.), currently let on a long-term lease until December 2025 with a steady annual gross rental income of £15,000. Additionally, there is a larger vacant retail space of around 94.5 sq. m (1,017 sq. ft.) with an estimated rental value of £25,000 per annum.
In terms of residential offerings, the split-level flats are generous in size; one spans roughly 91 sq. m (981 sq. ft.) while another measures about 109 sq. m (1,173 sq. ft.). Both are currently tenanted under Assured Shorthold Tenancy agreements with solid rental yields.
The second title at 391 New Cross Road includes a retail unit across the basement and ground floor measuring approximately 110.6 sq. m (1,190 sq. ft.), which is fully leased to established businesses generating £36,000 annually.
Crucially, there’s significant development potential for the vacant space at the rear of the property accessible via Grehan Mews; this could be explored further subject to obtaining planning permissions.
Overall, this property offers considerable prospects for capital appreciation and income generation through strategic refurbishments or expansions.
