Prime High St investment opportunity with development potential, subject to any necessary consents.
New Malden has a busy and thriving High St and the property is in an area of high footfall.
Comprising two shops, separate small rear workshop and three floors of offices, the property is currently fully occupied and an area of the rear yard will be included in the demise.
Location
Prime location close to many multiples including Nando's, Pizza Express, KFC, Shoezone, Boots, W H Smith, Lidl, Starbucks and Costa. New Malden station with it's fast service to Waterloo is within easy walking distance and there is a public car park in Blagdon Rd, opposite the property.
Accommodation
Approximate floor areas;
153 High St (shop) - 44 sq m (474 sq ft)
155 High St (shop) - 39 sq m (420 sq ft)
149 High St (workshop) - 14.5 sq m (156 sq ft)
151 High St (upper offices) - 105 sq m (1,130 sq ft)
Total - 202.5 sq m (2,180 sq ft)
Terms
Leases/Rents;
153 High St is occupied by one of our clients, currently at nil rent- lease expired in 2016. Vacant possession possible on completion.
155 High St is let to Adorn Jewellers at a current rent of £12,996 p.a.- lease expired in 2014.
149 High St is let to Ochirbat Davgadorj for a term of 12 months from 1st January 2023 at £,4,200 p.a.
151 High St is let to My Homecare Kingston Ltd for a term of 36 months from 1st November 2021 at £12,800 p.a.
Total current income of £29,996 p.a. No rent is shown for No 153 and it is considered there is significant scope to increase the rental yield, along with potential to develop.
Tenure: Freehold
Price/premium: £1,100,000
Rent: £29,996 Per annum
Legal fees: Each party to bear their own
Rateable value: All R.V.'s currently appear to be below £12,000- please verify.
Specification
- Close to many multiples
- Close to station
- Commercial investment
- Densely populated area
- Development potential
- Early viewing recommended
- Prime pitch
- Three storey