PROPERTIES

223-229 Walworth Road, Elephant & Castle, London SE17

Price£6,757,000

PDF DETAILS

223-229 Walworth Road, Elephant & Castle, London SE17

  • Price£6,757,000
  • Income£360,300
  • Yield5%
  • SectorOther
  • StatusAvailable
PDF DETAILS

Residential & Retail Investment Located Within The Elephant & Castle Regeneration Area

Summary

  • Located just south of Elephant & Castle, the area is currently undergoing one of London’s largest regeneration projects.
  • Situated on the eastern side of Walworth Road, 5 minutes’ walk south from Elephant Park.
  • Extremely well connected location with Elephant and Castle Overground and Underground Stations providing Bakerloo Line, Northern Line and Thameslink services.
  • Mixed-use property comprising three selfcontained retail units at ground floor and 11 flats all let on Assured shorthold tenancies.
  • Total current rent of £360,300 per annum.
  • 59% of income let to residential element.
  • Vendor has spent over £2 million since 2015 on a substantial redevelopment.
  • Freehold
  • Numerous asset management opportunities to include improving residential rents and surrender / reletting of 227 Walworth Road at higher market rent.
  • Offers in excess of £6,757,000 subject to contract and exclusive of VAT. A purchase at this level will reflect a net initial yield of 5.00% after allowance for purchaser’s costs of 6.64%.