Opportunity to acquire the freehold of an attractive mid-terrace three storey building.
£350,000
The premises are let on a 15 year lease from January 2017 to a Coffee Shop operator and is arranged over ground floor and basement. The income is currently £23,000 p.a. and has not had a rent increase at the last rent review.
Included in the freehold are three flats, two above and one to the rear of the ground floor which are all sold off on long leases and producing ground rent income.
Flat 321 a - 125 year lease from March 1995 . £300 p.a. ground rent
Flat 321 b - 125 year lease from March 1995 . £300 p.a. ground rent
Rear Flat - 125 year lease from November 2002. £300p.a. ground rent.
Shop EPC Band - C
The freehold includes the loft space which has not been converted/developed (subject to any necessary consents)
Please do not approach the business.
Location
Located on the popular Upper Richmond Road West situated between Purney and and Richmond. East Sheen boasts a mix of interesting shops, restaurants & cafes - public car park and metered street parking close by.
Mortlake Station is within easy walking distance.
Accommodation
The shop measures approximately 492 sq ft to the ground floor with an additional 500 sq ft in the basement.
Terms
Tenure: Freehold
Price/premium: £350,000
Legal fees: Not specified
Rateable value: The VOA website states a rateable value of £12,750 payable at the prevailing rate.
Lease details: 15 Year lease from January 2017 - currently producing £23,000 p.a. Flats sold off on long leases - producing a total of £900 p.a. in ground rent.
Specification
- 'E' Use class
- Beautifully presented throughout
- Character property
- Commercial investment
- Favoured location
- Freehold
- Public car park nearby