78 Grange Road, London | Property for sale | Savills
Guide price £1,200,000($2,348,828)

78 Grange RoadLondon

  • New
  • Sole agency
  • Freehold
Investment

Key features

  • To be offered on Tuesday 26 November
  • 3 flats at 1st & 2nd floor (2 x two bedroom flats & 1 x one bedroom flat)
  • Ground floor double fronted shop let on a new 15 year FR&I lease.
  • Potential to internally re-arrange & extend flats
  • 2 x two-bedroom flats let on AST's at £50,700 p.a.
  • Development potential to add an additional floor
  • Asset management potential to let out vacant flat and increase overall rents

A ground floor double fronted commercial premise (let on a new 15 year lease) and 3 x self contained flats at 1st & 2nd floor.

About this property

  • A mid terrace property comprising of a double fronted commercial unit at ground floor and 3 x flats The ground floor is let on a new 15 year lease to Medivet at £27,630 p.a. The uppers (1st & 2nd floors) comprise a split level 1- bed flat (79A) that is currently vacant (£21,000 p.a. ERV). There is Development potential to re arrange the internal configuration of the vacant one bed flat to create a two-bedroom flat, also potential to extend the existing property to increase the existing floor plate and/or add an additional floor to create extra dwellings (subject to the requisite consents) The 2 x 2 bed apartments (78A & 78B) that are both let on AST agreements. Flats are producing a combined income of £50,700 p.a. The ground floor tenant - Medivet was founded in 1987 and now operates from over 350 branches across the UK. In 2021, CVC Capital Partners acquired Medivet for in excess of £1bn (www.medivet.co.uk)

Local information

  • Grange Road (A2206) is an historic road in Bermondsey, within the London Borough of Southwark.
  • Hugely popular location to live and work with some of the best amenities London has to offer.
  • Transport
  • The subject property is 0.8 miles to London Bridge station (National Rail, Jubilee, Northern & ThamesLink).