H o m e Description Accommodation Location Terms

• Freehold, mixed-use investment • Retail, warehouse, and residential flat • c. 3,500 sqft of ground floor accommodation • Popular parade in affluent suburb • Fully let producing £75,000 pax • Development potential (STPP) • Guide Price £1,500,000 F/H

DESCRIPTION A rare opportunity to acquire an attractive, detached freehold mixed- use investment producing £75,000 pax. Ideally located in a popular parade, the property comprises a ground floor retail premises, with a large warehouse to the rear, and a three bedroom maisonette on the first floor. Opportunities to acquire freehold investments in the immediate area are extremely rare, and as such the property is likely to prove of interest to local and regional investors.

ACCOMMODATION The ground floor and warehouse is occupied by Laithwaites Wines and comprises a generous double fronted open-plan shop, warehouse, kitchen, and toilets. The warehouse is approximately 1,700 sqft with a 4.3m ceiling height, a 3.6m wide cantilevered door and a 9m delivery bay. The area demised to Laithwaites also includes 7 allocated parking spaces. The first floor accommodation is accessed from the side and has a private entrance and lobby leading to the first floor, comprising lounge, kitchen, three bedrooms and a bathroom.

FURTHER INFORMATION Copies of the existing floor plans, existing leases and EPCs are available on request.

348 Crofton Road, Locksbottom, , BR6 8NN Freehold mixed-use investment for sale View more information... 348 Crofton Road, Locksbottom, Orpington, Kent BR6 8NN H o m e Description Accommodation Location Terms View all of our instructions here... III III

LOCATION The property is situated on Crofton Road (A232) in the heart of Locksbottom; equidistant to and Orpington town centres. Crofton Road is adjacent to the Farnborough Park Estate, and within 1/4 mile of Park Estate; two of the most sought after residential locations in the borough. Crofton Road (A232) joins the A21 which provides access to Kent and the M25 to the South, with Bromley and to the North. Orpington is the closest station; situated within 1 mile of the property and providing access to London Bridge and Charing Cross. Numerous bus routes also pass along Crofton Road. Neighbouring occupiers include Costa Coffee, Lidl and Marks & Spencer.

E: [email protected] W: acorncommercial.co.uk

1 Sherman Road, 120 Bermondsey Street, Bromley, Kent BR1 3JH London SE1 3TX T: 020 8315 5454 T: 020 7089 6555 348 Crofton Road, Locksbottom, Orpington, Kent BR6 8NN H o m e Description Accommodation Location Terms View all of our instructions here... III III

LEASE TERMS The ground floor was let to Laithwaites on the 15th March 2006, on full repairing and insuring terms for 15 years. The remaining 5 years will be paid at £60,000 pax. The lease is subject to 5 yearly reviews and is secured inside the ‘54 Act. The residential flat on the first floor is rented at £15,000 pa. The current tenants have been in occupation since October 2016 on a 12 month AST.

TERMS Offers in excess of £1,500,000 are invited for the freehold interest subject to the existing leases. A deadline for offers may be set and therefore, interested parties are advised to contact our offices for further information.

VAT We understand that VAT is not applicable in this transaction.

VIEWINGS All viewings are strictly by prior appointment with Acorn’s Commercial & Development Division on 020 8315 5454.

INVESTMENT SUMMARY Freehold investments in Locksbottom rarely come available. The subject property offers buyers the prospect of securing a NIY of 4.75% (based on the guide, and allowing for purchase costs of 5.75%) with the future potential to develop the warehouse and upper parts, stpp.

For more This [brochure and its content] is copyright of Acorn Limited © 2016. All rights reserved. Any redistribution or reproduction of part E: [email protected] information or all of the contents in any form is prohibited. You may not, except with our express written permission, distribute or commercially contact: exploit the content, nor may you transmit it or store it in any form. W: acorncommercial.co.uk Tony Wood on 020 8315 5454 Acorn as our vendor’s agents have endeavoured to check the accuracy of these sales particulars, but however can offer no 1 Sherman Road, 120 Bermondsey Street, guarantee, we therefore must advise that any prospective purchaser employ their own experts to verify the statements contained herein. All measurements are approximate and should not be relied upon. No equipment, utilities, circuits or fittings have been Bromley, Kent BR1 3JH London SE1 3TX tested. T: 020 8315 5454 T: 020 7089 6555 Meet the rest of the team...