- Freehold retail and residential investment
- Prominent position opposite Wimbledon Park Tube Station in prosperous South-West London suburb
- Comprises a retail unit with useable full-height basement with windows, a 3-bed maisonette and two garages
- Retail unit and maisonette let on an overriding lease, expiring December 2025
- Future potential to add an additional floor to create further residential units (stpp)
- In same ownership for over 40 years
Location
Wimbledon Park is situated in an area in South West London bordered by Southfields, Wimbledon Village and Earlsfield; midway between the larger centres of Wimbledon and Wandsworth. The property is approximately 7 miles from central London and Heathrow Airport is approximately 12 miles distant. The premises are situated in a prominent position on Arthur Road and almost opposite Wimbledon Park Underground station, in an affluent mixed residential and commercial area. This section of Arthur Road houses a mixture of independent and multiple retailers and the subject property is currently trading as a best-one convenience store.
Accommodation
Ground Floor - 45.6 sq m (491 sq ft)
Basement - 50 sq m (538 sq ft)
First & Second Floor Maisonette - 4 rooms, kitchen & bathroom/WC - (1,200 sq ft) GIA
Two garages
Terms
Lease - The premises are let by way of a Full Repairing & Insuring 15 year lease from 15/11/2010 with 5 yearly rent reviews. The 2020 rent review remains outstanding. The lease is granted inside the Landlord & Tenant Act 1954.
Planning - There may be future potential to add an additional floor, as has been done on both adjacent properties, as well as reconfigure the existing maisonette and develop the rear garages. This is subject to the existing leases and obtaining all the necessary consents. All enquiries should be made with the local authority: Merton Council www.merton.gov.uk
Guide Price - Guide price of £800,000 +. VAT is applicable on the terms quoted.
Total current rent reserved - £33,000 per annum.
N.B. Despite it transpiring the two garages being demised within the lease, the landlord has inadvertently been letting them by way of separate license agreements providing an additional combined annual income of £1,640 plus VAT.