The property is in a good condition and comprises a double fronted retail unit arranged over ground floor and basement. The premises are currently operating as a Bridal Shop under A1 Commercial Use Class Order. In the past the premises has been used as a restaurant (A3).
Location
The property is situated on the north side of Fulham High Street, close to its junctions with Fulham Palace Road and Fulham Road. The premises are 0.4 miles from Putney Bridge Station, which are serviced by the District Line (Underground) whilst Parsons Green is 0.7 miles is also accessible via the District Line.
Accommodation
The property benefits from the following approximate net internal floor areas:
Ground Floor - 70.11 sq m (755 sq ft)
Basement - 80.89 sq m (871 sq ft)
TOTAL - 151 sq m (1,625 sq ft)
Terms
Tenure - 121 year long leasehold
Tenancy - The Ground floor and basement retail unit is currently occupied by the leaseholder from which they have successfully operated their Bridal Boutique – Fairy-tale London for circa 4 years. The leaseholder would like to lease the property back from a purchaser for an annual rent of approximately £30,000 per annum.
Income: The investment would representing a net initial yield of 5.45% having allowed for purchaser’s costs at 4.8%
Price - £525,000
VAT - VAT maybe applicable on this property
Rates - We have been advised that as of April 2010 the rateable value is £39,000. Therefore the rates payable for this year will be in the region of £18,174.
EPC - G (248)