161-163 Masons hill bromley, kent br2 9hw Commercial acorncommercial.co.uk Investment Development 020 8315 5454 161-163 Masons hill bromley, kent br2 9hw • Two adjoining building with 5 flats and two retail units • All flats are unbroken, with full VP on completion • Refurbished to a high standard • Both retail units combined produce an income of £40,000pa • The property has an ERV of £107,400pa if fully let LOCATION The property is located on the fringe of Bromley Town Centre on Masons Hill (A21) close to its junction with Homesdale Road. The A21 is one of the major arterial routes servicing Kent and South East London and one of the main routes into Bromley Town Centre. As such, the property benefits from high levels of passing vehicular traffic. The surrounding area comprises a mix of residential and commercial properties with a number of significant new developments and large office buildings in close proximity. Bromley Town Centre is easily accessible with Bromley South mainline station less than 1km to the North East. TERMS Offers in the region of £1,600,000 are invited for the freehold interest. The property is to be sold freehold with the ground floor commercial let and vacant possession of the upper parts. VAT The terms quoted exclude VAT which our clients may have elected or be under a duty to impose. VIEWINGS DESCRIPTION The property comprises two substantial adjoining period buildings over ground, first and second floors plus cellar areas providing 5 flats, a trading bar/restaurant and vacant commercial unit. The property can be viewed externally from the roadside at any time. All internal inspections must be arranged via Acorn’s Commercial, Investment and Development Division on 020 8315 5454. ACCOMODATION Unit / address Description Rent per annum Ground floor and basement, 161 Masons Hill Bar / Restaurant with A3 use £32,000 First Floor, 161a Masons Hill 2 Bed flat with large roof terrace £14,400 ERV Second Floor, 161c Masons Hill 2 Bed flat with small roof terrace £12,600 ERV Ground floor front, 163 Masons Hill Commercial Unit £13,000 Ground floor rear, 163 Masons Hill 2 Bed, 3 Bath flat with private garden £16,800 ERV First Floor, 163b Masons Hill 2 Bed flat £12,600 ERV Second Floor, 161d Masons Hill 2 Bed flat £12,600 ERV The ground floor of No.161 is a fully fit modern bar / restaurant trading as Bedrock Bar (www.bedrockbar.co.uk) which is a private hire venue. Above are 2 x 2 bed flats with terraces. The ground floor of the adjacent property at No.163 is currently a commercial unit in shell condition benefiting from A3 use. There maybe potential to convert into residential use, subject to planning permission. To the rear at ground floor is a new large recently built 2 bed, 3 bath flat with private garden of 1,000 sqft. Above are 2 x 2 bed flats. The bar is let at a current rent of £32,000pa on a 15 year lease from 2009. The flats are currently let on short terms holiday lets but if let on a standard assure shorthold tenancies command a rental return of £1,000-1,100 pcm. The owner has interest in the vacant commercial unit to rent at £13,000pa, however, he has not proceed with the interest as he is unsure what a buyer would want to do with the unit / space. The property has estimated rental return (ERV) of c.£107,400pa. 161 Masons Hill 163 Masons Hill 020 8315 5454 E: [email protected] W: acorncommercial.co.uk : @acorncommercial Acorn as our vendor’s agent have endeavoured to check the accuracy of these sales particulars, but however can offer no 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 tested. 161-163 Masons hill bromley, kent br2 9hw 020 8315 5454 E: [email protected] W: acorncommercial.co.uk : @acorncommercial Acorn as our vendor’s agent have endeavoured to check the accuracy of these sales particulars, but however can offer no 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 tested.
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