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Price/premium:
£780,000
Rent:
£47,500 Per annum exclusive
Size:
1,530 Square feet
Ref #3362
Address
Address:
487-493 Upper Richmond Road West
Town:
East Sheen
Area:
London
Postcode:
SW14 7PU
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.
Description
Investment opportunity comprising a long leasehold property let to an established tenant.
The property is held on a 999-year lease from 21 June 2021 at a peppercorn ground rent and is currently let to Futon Limited on a 5-year Full Repairing and Insuring lease from 6 February 2022 to 6 May 2027. The lease is held without rent review and no break options.
The passing rent is £47,500 per annum, payable monthly in advance. There are no director guarantees and no rent deposit. A schedule of condition is attached to the lease which is drafted within the Act.
The property measures approximately 1530 sq ft and has a small rear yard area.
We understand VAT will not be payable in respect of the purchase.
EPC commissioned.
Viewings are strictly by appointment only. Please do not disturb the tenants.
General Information
Tenure:
Virtual Freehold
Price/premium:
£780,000
Rent:
£47,500
Per annum exclusive
Legal fees:
Each party to bear their own
Rateable value:
The VOA website states a RV of £41,250 from 1st April 2026, payable at the prevailing rate.
Lease details:
The property is held on a 999 year lease from 21st June 2021 at a peppercorn ground rent and let for a 5 year term (FRI) from 6th February 2022 to 6th May 2027, without rent review. The rent payable is £47,500 p.a.
Features
Close to many multiples
Commercial investment
Densely populated area
Early viewing recommended
Fully let
Nicely presented
Pedestrian rear access
Small garden
Viewings by appointment only
Visually prominent
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).