The property comprises a ground floor commercial unit within a new development. There is a small yard demised to the rear of the property.
New 15 year FRI lease let to Pedder Property Sales Limited (Experian Credit Rating 96/100 Very Low Risk’). There are upward only rent reviews every 5 years.
Location
The property is situated on the North side of Queen's Road in a prominent position directly adjacent to Sainsbury's. Queen's Road Peckham Station is approximately a 3 minute walk away, with easy connections to London Bridge via mainline rail services.
The property is served by numerous bus routes.
Nearby occupiers include Blackbird Bakery, Tesco Express and a selection of independent operators Inward investment into the area is highlighted by nearby developments, including Notting Hill Genesis’ scheme offering 333 new homes.
Accommodation
Ground Floor - 200 sq m (2,152 sq ft)
Frontage - 7.6m
Terms
GUIDE PRICE - £XXX which reflects a Net Initial Yield of 6.2 (assuming purchaser s costs of 5%)
VAT - TBC
TENURE - The property is available by way of a new 999 year Long Leasehold (Virtual Freehold).
EPC - An EPC will be commissioned upon completion of the works. Copies will be available upon request.
RENTAL INCOME - The passing rent is £XXX per annum
LEGAL COSTS - Each party is to be responsible for their own legal costs incurred in the transaction.
Specification
- Guide Price: £XXX
- 6.2% NIY
- Passing Rent: £XXX p.a.x.
- Virtual Freehold (999 Year Lease)
- 15 Year Term – No Breaks