The recently constructed property comprises two commercial units at ground floor, first floor offices/commercial space, and three flats at second and third floors. There is a passenger lift and secure car parking. All the accommodation has been sold off on long leases except the first floor office.
Location
Situated on Putney Bridge Road (A3209) between Oxford Road and Wadham Road. Putney High Street and Upper Richmond Road are a short walk from the property, and offer a large array of retail and leisure amenities. Wandsworth Park and the pedestrianised walkway along the Thames are moments from the property.
The area benefits from excellent public transport links, with Putney mainline station providing frequent services to London Waterloo (15 minutes), and East Putney station providing access to the London Underground (District Line), with direct services to London Victoria (18 minutes) and Paddington (20 minutes). Putney Bridge station can be accessed via the footbridge over the Thames in 8 minutes. There are also several bus routes serving Putney Bridge Road.
Accommodation
The first floor modern offices extend to c. 2,071 sq ft / 183.2 sq m NIA and include one off street parking space. We understand the first floor has B1/E use offering the potential for future residential use, subject to obtaining the necessary consents.
Terms
Tenure & Leases - The freehold is for sale with the benefit of the ground rents from the ground floor commercial units, three apartments, and the occupational lease on the first floor.
The first floor is let to Caroline Gardner Publishing Limited (company number 03401477, Experian Credit Score – 83 “Low Risk”), from March 2019 on a five year lease at a passing rent of £65,000 per annum.
In addition, there is a combined total of £2,050 per annum in ground rents from the three flats and two commercial units.
Total annual income: £67,050 Further information, including lease copies, can be provided upon request
VAT - The property is elected for VAT.
EPC E - report available upon request.
Floor Plans - Available upon request.
Price: Guide Price £950,000 plus VAT for the freehold interest. The price reflects a Gross Initial Yield of 7.1%.
Viewings - For further information and viewings, please contact agents Ashley or Matthew at Randell Commercial on 020 7135 2033, or alternatively our joint agents James Commercial, on 020 7127 8781.
Specification
- Income: £67,050 per annum
- Guide Price: £950,000
- Attractive GIY of 7.1%
- Future residential potential