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Our Summary
- Value add potential through refurbishment & extension (STPP)
- The top floor flat is currently vacant and could benefit from some refurbishment to improve the potential rental value
- The property offers some potential for development at the rear (STPP) over the parking area at the back of the property, which has capacity for up to 4 cars
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Description
The property is a mixed-use freehold located on Beckenham High Street, with a commercial unit occupied by a convenience store operator for over 20 years, generating £20,000 per annum in rent. The unit has a rent review scheduled for September 2025. Above the commercial unit, there are three flats: two vacant 2-bedroom flats measuring 65sqm and 60sqm each, and one midfloor flat that is currently let but has a tenant who has received notice to vacate.
The top floor flat is vacant and in need of some refurbishment. There is also potential for development at the rear of the property, which currently accommodates up to 4 cars.