Summary - 389 NEW CROSS ROAD LONDON SE14 6LA
4 bed 1 bath Mixed Use
Income-producing high street asset near New Cross station with development potential.
Freehold mixed-use: three retail units and two self-contained 2-bed flats
This substantial freehold on New Cross Road offers an established mixed-use income stream and clear asset-management upside. Two self-contained two-bedroom split-level flats are let on ASTs, producing a combined historical gross rent of £47,400 per annum. The ground floor provides three retail/commercial units, one currently let to a food operator and two units vacant and fitted for takeaway use, presenting immediate re-letting or refurbishment opportunities.
The property’s overall footprint and total 4,690 sqft make it suitable for a buy-to-let investor or a developer targeting small-scale intensification. There is identified scope to create additional development to the rear (access via Grehan Mews) in line with neighbouring plots, subject to obtaining planning consent. Proximity — about 110 metres — to New Cross station and local amenities supports rental demand from students and young families.
Buyers should note material negatives: the retail frontage and some units are dated and in need of renovation; two retail units are currently vacant which will require marketing or refit costs. The immediate area is classified as very deprived with a very high recorded crime level, which will influence tenant profiles and insurance/management costs. The plot is small and rear development will require formal planning approvals and associated fees.
Overall, this is a large, freehold high-street investment for a purchaser comfortable with active asset management, refurbishment works and navigating planning for incremental development. The building’s size, separate flat entrances, and nearby transport make it a practical long-term rental or redevelopment project.
4 bedroom flat for sale in New Cross Road, London, SE14 — £1,500,000 • 4 bed • 1 bath • 4690 ft²
High street retail property for sale in 67-69 Lee High Road, Lewisham, London, SE13 — £950,000 • 1 bed • 1 bath • 2919 ft²
3 bedroom terraced house for sale in Lewisham Way, London, SE14 — £900,000 • 3 bed • 3 bath • 2071 ft²
Office for sale in 302-314 New Cross Road, London, SE14 6AF, SE14 — £3,000,000 • 1 bed • 1 bath • 15375 ft²
Commercial property for sale in Deptford High Street, London, SE8 — £900,000 • 1 bed • 1 bath • 1868 ft²
Commercial property for sale in Deptford High Street, London, SE8 — £900,000 • 1 bed • 1 bath • 1868 ft²
