The property comprises ground floor industrial accommodation on Lyon Road with offices on part ground floor and first floor on Windsor Avenue.
Let to three tenants, two of which have the benefit of forecourt parking/ loading facilities.
The office tenant (RTD Properties Ltd) have their own ground floor entrance on Windsor Avenue leading to their main demise at first floor level.
In total there are approximately 28 car parking spaces servicing the property.
Location
The property is located between Mitcham and Wimbledon in south west London. Wandsworth is 4 miles to the north and Croydon is 5 miles to the south east.
The A24 is 0.5 miles to the west whilst London Road is 3.5 miles to the east.
South Wimbledon Underground Station is 0.6 miles and Colliers Wood Underground Station is 0.7 miles, both to the north and Morden Underground Station is 1.4 miles to the south, all providing northern line services.
Wimbledon train station provides regular services to London Waterloo (19 minutes) and is connected to London Underground (District Line) and Tramlink (linking to Croydon and Beckenham).
The property is situated on the corner and north side of Windsor Avenue, at its junction with Lyon Road, on the Lombard Trading Estate.
This estate is one of the largest in the London Borough of Merton and is strategically placed to service the West End and The City.
The property is within the South Wimbledon Business Area, a Business Improvement District.
Accommodation
Part Ground & First, 56 Windsor Avenue - 2,111 sq ft
Ground, Unit 1, 56 Windsor Avenue - 6,842 sq ft
Ground, Unit 1, 1/1a Lyon Road - 9,206 sq ft
TOTAL - 18,159 sq ft
Terms
PROPOSAL - We are instructed to seek offers in excess of £XXX (Three Million, Six Hundred & Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase price at this level would reflect a low capital value of approx. £XXX psf.
The Vendor will top up the Security Window Shutters Limited rent to £XXX psf (in line with the recently agreed C&P rent) until the rent review in January 2024. On this basis the Net Initial Yield will equate to 6.71% and a Reversionary Yield of 7.00%.
TENURE - Freehold.
VAT - The property is elected for VAT and it is envisaged this may be treated as a Transfer of Going Concern (TOGC).
EPC - Available upon request.
LEGAL COSTS - Each party is to bear their own legal costs.
Specification
- 1.6 miles south East of Wimbledon Centre and 7.9 miles South West of Central London.
- The property comprises a corner site with industrial accommodation on ground floor with offices at first floor.
- Multi let to three tenants producing a Gross Rent of £XXX £XXX pa and a Net Rent of £XXX pa.
- Total area 18,159 sq ft (1,687 sq m).
- Site area of circa 0.54 acres.
- All leases outside the Act offering future redevelopment potential, subject to planning.
- FREEHOLD.