3 bed maisonette

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3 bed maisonette

The Cut, London SE1
£1,295,000

Our Summary

  • The neighbouring building (No 35 The Cut), has recently been granted planning permission to build up i floor and extend to the rear to create 4 flats above the commercial shop floor
  • Plannig permission was granted on the 12th November 2024 and can be viewed on Southwark planning portal ref: 23/ap/1883

Description

This unique property offers a rare opportunity to acquire a mixed-use freehold with a 3-bedroom maisonette and private roof terrace on the upper floors, and a retail unit on the ground floor. The maisonette is currently let on an annual AST agreement, yielding £40,040 per annum, while the retail unit is occupied by a new tenant on a 15-year lease, paying £45,000 per annum. The total annual income is £86,040. The property is located on The Cut, a vibrant street known for its shops, cafes, and restaurants, and is just a short walk from Southwark and Waterloo stations, providing easy access to the City, West End, and Canary Wharf. With planning permission granted to build an additional floor and extend the neighboring building, this property presents a unique investment opportunity.