The subject property is an attractive period building comprising a well configured retail unit arranged over ground floor only. There are residential upper parts which are accessed via a rear service road. The front elevation has fully glazed retail frontages with a redbrick façade on the upper floors.
The upper parts comprising 4 flats are let on a 999 year lease with access via a mews at the rear of the property.
Location
The affluent suburb of Wimbledon is located approximately 12.75 km (8 miles) south west of central London within the London Borough of Merton. Kingston-upon-Thames lies to the west of Wimbledon, with Putney to the north. Road connections from Wimbledon are good, with the A3 being easily accessible from the subject property and providing access to the M25 motorway (J10) and the wider motorway network.
Wimbledon station provides regular overland rail services to London Waterloo with a journey time of 19 minutes. Wimbledon station is also served by London Underground (District Line), with frequent services to central London and the City.
The Broadway acts as the main thoroughfare through Wimbledon along which there is access to Wimbledon Underground and mainline Railway Station (Southwestern Railway, Thameslink & District Line), Wimbledon Tram Station, Centre Court Shopping Centre and a vast array of shops, cafés, restaurants, gyms, banks, pubs and supermarkets including two Sainsbury’s branches, Morrisons, M&S Simply Food, TK Maxx, Virgin Active and Pret A Manger, and many more.
Accommodation
Shop:
Ground Floor Sales - 114.08 sq m (1,228 sq ft)
Ground Floor ITZA - 56.21 sq m (605 sq ft)
Upper Parts - Residential - 4 flats
Terms
COVENANT - The guarantor Imix Concrete Limited have a Creditsafe credit score of 73/100 with share holders funds of £1,514.000.
TENURE - Freehold.
EPC - The commercial element has an EPC rating E 117.
VAT - The property is registered for value added tax, it is assumed the sale will be by way of a TOGC (transfer of a going concern).
PROPOSAL - We are instructed to seek offers in excess of £770,000 (Seven Hundred and Seventy Thousand, Pounds), subject to contract. A purchase at this level reflects an attractive Net Initial Yield of 8%.
FURTHER INFORMATION - Lease details, EPC details and other information can be found in our dataroom.
LEGAL COSTS - Each party to be responsible for their own legal costs incurred in this transaction.
TENANCIES: See attached brochure for information
Specification
- Prime property in affluent greater London Suburb
- Ground Floor Retail/Restaurant Investment
- In close proximity to Wimbledon Mainline & Underground Station
- Rent £65,000 pa
- Freehold
- Offers sought in the region of £770,000 stc Net Initial yield 8%