Investment opportunity comprising a long leasehold property let to an established tenant.
The property is held on a 999-year lease from 21 June 2021 at a peppercorn ground rent and is currently let to Futon Limited on a 5-year Full Repairing and Insuring lease from 6 February 2022 to 6 May 2027. The lease is held without rent review and no break options.
The passing rent is £47,500 per annum, payable monthly in advance. There are no director guarantees and no rent deposit. A schedule of condition is attached to the lease which is drafted within the Act.
We understand VAT will not be payable in respect of the purchase.
EPC commissioned.
Viewings are strictly by appointment only. Please do not disturb the tenants.
Location
Located on the popular Upper Richmond Road West amid an eclectic mix of interesting shops, restaurants & cafes. There is a public car park in Sheen Lane and street parking close by. Mortlake Station is within easy walking distance.
Accommodation
The property measures approximately 1,530 sq ft and has a small rear yard area.
Terms
Tenure: Virtual Freehold
Price/premium: £780,000
Rent: £47,500 Per annum exclusive
Legal fees: Each party to bear their own
Rateable value: The VOA website states a RV of £41,250 from 1st April 2026, payable at the prevailing rate.
Lease details: The property is held on a 999 year lease from 21st June 2021 at a peppercorn ground rent and let for a 5 year term (FRI) from 6th February 2022 to 6th May 2027, without rent review. The rent payable is £47,500 p.a.
Specification
- Close to many multiples
- Commercial investment
- Densely populated area
- Early viewing recommended
- Fully let
- Nicely presented
- Pedestrian rear access
- Small garden
- Viewings by appointment only
- Visually prominent