Franklin Commercial

Address

327 Upper Richmond Road West
East Sheen
SW14 8QR

Location

Located on the popular Upper Richmond Road West amid an eclectic mix of interesting shops, restaurants & cafes. There is a public car park in Sheen Lane and street parking close by. Mortlake Station is within easy walking distance and a number of bus routes pass by the shop.

Description

Guide Price £280,000. Shop Investment- share of freehold.

This attractive ground floor shop unit is let to an opticians on a 20 year lease from 2017 at a current rent of £17,000 p.a. Rent Reviews are 5 yearly, with the next one being in 2027. The 2020 review was not actioned and the current passing rent is now considered below market rent. We understand the lease is drafted within the Landlord and Tenant Act 1954, but have not inspected this. The rent deposit was returned to the tenant after five years in accordance with the lease terms. The tenant is Blink Optics Limited.

The freehold is owned jointly between our client and the two flat owners. Each party has a lease granted out of the freehold and our clients lease is for a term of 125 years from 29/09/1999.

The shop forms part of an attractive mid terrace three storey property and measures approximately 450 sq ft- there is rear access to a yard, which the flats also have access rights over.

EPC Band B.

Please do not approach the business and arrange all viewings via Franklin Commercial 0207 117 2526.

General Information

Tenure: Freehold

Price/premium: £280,000

Rent details: £17,000 p.a. current rental income.

Legal fees: Each party to bear their own

Rateable value: The VOA website states a R.V. of £10,250, payable at the prevailing rate.

Lease details: The freehold is owned jointly by our clients and the two flat owners. A 125 year lease commencing 29/09/1999 was granted out of the freehold in respect of the shop.

Features

Commercial investment
Densely populated area
Early viewing recommended
Excellent trading location
Fully let investment
Parking close by
Town centre location

Map

Important Notice

Information supplied by franklin commercial is intended as a general guide only & should always be verified by you prior to contract (we do not usually inspect leases/service charge accounts etc or test any amenities/services). We do not guarantee the accuracy of approximate measurements/areas quoted, plans or any other information, which may have been supplied to us by Clients. Our descriptions do not form part of any contract and nothing is included unless it is in the solicitors contract for sale. All inspections/negotiations must be conducted through us & information should not be transmitted to 3rd parties. Under no circumstances may a direct approach to the business, vendor or lessee be made - staff are usually unaware of a proposed sale. Rents/Prices quoted are always exclusive of V.A.T. (if applicable).