3 Medfield Street, London, SW15 4JY

Description



The property comprises a three storey Grade II Listed former public house with a convenience store on the ground floor and two self-contained one bedroom flats sold off on long leases on the upper floors.



Retail Investment - FOR SALE



Location



The property is situated on the northern side of Medfield Street, close to its junction with Roehampton Lane (A306). The property is very well served by a number of bus services to Putney, Richmond, Tooting, Wimbledon, Clapham Junction and London Victoria.

The property is 1.4 miles from Barnes (South Western Railway) Station and 1.7 miles from East Putney District Line Station.






Size Notes



The retails premises provides the following net internal floor area:

Ground Floor: 128.40 sq m (1,382 sq ft)



Price Description



£360,000 equating to a NIY of 6.94%, based on the projected income.



Tenure Comments



The ground floor commercial property is held on a full repairing and insuring lease to Mr Naresh Das trading as Lloyds Local Convenience Store. The lease is for a term of 15 years from 24 March 2018 at a rent of £ £25,069.80 per annum. There is a rent review on the 25 March 2024 and then every 3-years after. The rent review clause allows the rent to be assessed by RPI.

Flat 1 - 125 years from 19 June 2014 at a ground rent of £400 per annum, increasing by £400 per annum every 25 years.

Flat 2 - 125 years from 17 January 2014 at a ground rent of £400 per annum, increasing by £400 per annum every 25 years.

( Agency Pilot Software ref: 1001405 )