The subject property comprises a mid-terraced building consisting of a vacant retail unit to the front of the ground floor with 3 flats above. Flat 1 is to the rear, ground and first floor, Flat 2 to the front of the first floor and Flat 3 to the second floor. In addition, there is a two-bedroom house to the rear accessed via Haydon Park Passage.
Location
The property is located to the west of Haydons Road, just south of its junction with Gap Road, Durnsford Road and Plough Lane. There is high vehicular flow past the property as Haydons Road and Durnsford Road provide a major thoroughfare between Wimbledon/Colliers Wood to the south and Wandsworth to the north.
The property is located less than 200 metres north of Haydons Road Train station (Thameslink) and approximately one mile northeast of Wimbledon town centre with its train station offering regular services to London Waterloo (19 mins) and its connections to London Underground (District Line) and Tramlink (linking to Croydon and Beckenham).
Accommodation
GF Retail - 508 sq ft (47.16 sq m)
Flat 1 - 542 sq ft (50.39 sq m)
Flat 2 - 384 sq ft (35.64 sq m)
Flat 3 - 646 sq ft (60.00 sq m)
1 Haydon Park Passage - 546 sq ft (50.72 sq m)
Total - 2,667 sq. ft. (247.81 sq. m.)
Terms
TENURE: Freehold subject to the various tenancies, as outlined in the schedule.
PRICE: £1,700,000
LEGAL COSTS: Each party to bear their own legal costs incurred in this transaction.
VAT: The property is not elected for VAT.
COUNCIL TAX BANDING: See tenancy schedule.
Interested parties are recommended to make their own enquiries with Merton Council.
CURRENT RENTAL INCOME: Total current income is £59,400 per annum. The vacant shop and flat 1 provide an opportunity to increase the rental income to £100,200 per annum exclusive. In addition, the residential rents provide scope for increases.
This provides an initial yield of 5.57% after usual purchaser’s costs once fully let.
EPC RATING: See tenancy schedule.
USE: Retail / Residential
TENANCY SCHEDULE: See attached brochure for information.
NOTES:
* Retail ERV – £18,000 per annum exclusive
** Flat 1 ERV - £1,900 per calendar month
Specification
- Short walk to Haydons Road station.
- 3 flats & 1 house – 3 let on ASTs. 1 vacant flat.
- Good commuter location.
- Scope for AST rental increases.
- Busy retail location