After successfully letting a commercial unit in this town centre building in late 2022, we were subsequently instructed by the overseas owners to sell the investment. Comprising two shops and two fully refurbished flats, the property produces a total rent roll of £78,400. We invited offers in the region of £1.2M for the building; reflecting a NIY of 6.2%. Whilst commercial debt is seemingly harder to come by and undoubtedly more expensive, our role is to make the market, not follow it! Bromley remains a busy market town and the capital of London's largest borough. With that in mind, there'll always be a buyer for a mixed-use investment at 6%+. Early interest led to a solid offer from an investor with funds to deploy before a facility expired. With time very much of the essence, contracts were exchanged and completed in less than a month!
PROJECT ADDRESS: 2 & 2A East Street, Bromley, Kent BR1 1QX
