Allsop says ..

Property Oracle says ..

This property listing presents a mixed-use commercial and residential investment opportunity in the heart of London’s Covent Garden. The property comprises a ground and lower ground floor restaurant, currently under commercial lease, and two vacant residential units: a one-bedroom flat and a two-bedroom maisonette.

The location in Covent Garden is undoubtedly a major asset, offering exceptional convenience and high rental potential for both commercial and residential spaces. The area’s popularity among tourists and residents creates a consistently high demand for properties. Proximity to transport hubs like Charing Cross and multiple tube stations ensures excellent connectivity. Several well-regarded schools within walking distance add to the appeal.

The condition of the property appears good, at least in the areas shown in the supplied images. The flats are presented as being in modern condition. However, a full structural survey is vital before committing to purchase to assess the building’s overall condition and potential repair costs.

The lack of provided square footage data for both the building as a whole and individual units makes a complete assessment of value challenging. However, comparing the listing price to prices for nearby properties in the area suggests that the £2,000,000 asking price falls within a plausible range, considering the prime location and the combined commercial and residential usage. The potential rental income from the restaurant, while dependent on the lease terms, could also be a significant factor in justifying the price.

Overall, this is a potentially attractive investment for buyers interested in owning a mixed-use property in a highly sought-after central London location. The lack of detail on specific square footage is a significant drawback and should be investigated before making a purchase decision. A professional survey is strongly recommended.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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