Executive Summary
- Long leasehold commercial investment located in Wimbledon, London currently producing £48,000 per annum
- Located in a prime pitch on The Broadway (A219) within the heart of Wimbledon village in southwest London
- Comprising a ground floor retail unit along with basement storage space providing a gross internal floor area of 1,453 square feet (135.04 square metres)
- Offers are invited in excess of £575,000, which represents a gross yield of 8.35%
Location
The property is situated on The Broadway (A219) within the heart of Wimbledon village in southwest London. Wimbledon village is a charming and affluent suburb of London providing a blend of chic shops, cafes and bars, set amongst some of London’s most handsome period buildings. Nearby occupiers include New Wimbledon Theatre, Odeon Wimbledon, Gourmet Burger Kitchen, Pizza Express, Sainsbury’s Local, and The Gym Group.
Wimbledon Station is 0.3 miles away which is a National Rail, London Underground, and Tramlink station. There is a regular service to London Waterloo with journey times of approximately 17 minutes. The station also provides access to London Underground via the District Line, Tramlink and Thameslink services. By road, The Broadway (A219) provides a link to the A3, which links to Junction 10 of the M25 Motorway, and the A24 to the east. The area also has several regular and reliable bus services.
Please note all distances given are approximate only.
Description
A ground floor retail unit with a basement providing storage space. The tenant has split the unit and currently sublets part. Part of the property is a mobile phone repair shop and the other part sells Bubble Tea. The property has the following gross internal floor areas:
Ground Floor = 830 square feet (77.14 square metres)
Basement = 623 square feet (57.9 square metres)
Total = 1,453 square feet (135.04 square metres)
Please note that the size given is approximate only. All interested parties are advised to rely on their own inspection and survey.
Tenancy
The property is let to Multea Ltd on a 15-year lease from April 2021. The passing rent at the point of sale will be £48,000 per annum. There is a fixed uplift to £50,000 per annum in April 2025. The lease allows for a rent review in April 2026 and 2031. A deposit of £14,330 is held.
Terms
Offers are invited in excess of £575,000, which represents a gross yield of 8.35%.
Tenure
The property will be sold by way of a new 999-year lease and subject to the existing occupational lease.
VAT
We have been informed that property is not elected for VAT.
Viewings
Viewings are strictly by appointment through sole agents Harston&Co.
