Mid-terrace two-storey building, forming part of a parade of shops. The ground floor retail unit has a traditional timber framed shop front and comprises a retail area, with a single storey extension providing storage and an external WC. The retail area benefits from air conditioning. The 2-bed self-contained flat above, which is sold off on a long lease, is approached from the front, through its own entrance door.
Location
Cheam is a large village in the London Borough of Sutton, located approximately 1 mile west of Sutton town centre and approximately 11 miles south-west of central London. The property is situated on The Broadway, which is the main road through the centre. Cheam railway station is close by as well as Waitrose store.
Accommodation
The property comprises the following approximate net internal floor area:
Ground floor retail unit - 929 sq. ft (86.31 sq.m)
Terms
TENANCIES - The ground floor retail unit is currently let to Mr Goodliffe, trading as Cheam Sports, under a lease for a term of six years expiring 30 September 2026, at a rent of £17,500 per annum. The lease provides for a service charge and is granted within the security provisions of the Landlord and Tenant Act 1954.
The self-contained residential accommodation is sold off on a long lease, which we understand is for a 125-year term from 1 January 2020 at an initial ground rent of £150 per annum, doubling every twenty-five years.
PRICE - The freehold is available for £200,000. Subject to contract
VAT - We understand that VAT is not applicable to the sale price.
EPC - The ground floor commercial premises has an EPC Rating of D (93)
LEGAL COSTS - Each party is to bear their own legal costs
Specification
- Freehold retail & ground rent investment
- Sports shop let at £17,500 per annum
- Lease renewal September 2026
- Flat sold on long lease with 121 years unexpired
- Good public transport links
- Strong central Cheam location
- No VAT