Franklin Commercial

Address

321 Upper Richmond Road West
East Sheen
SW14 8QR

Location

Located on the popular Upper Richmond Road West situated between Purney and and Richmond. East Sheen boasts a mix of interesting shops, restaurants & cafes - public car park and metered street parking close by. Mortlake Station is within easy walking distance.

Description

Opportunity to acquire the freehold of an attractive mid-terrace three storey building.

OIEO £320,000

The premises are let on a 15 year lease from January 2017 to a Coffee Shop operator and is arranged over ground floor and basement. The income is currently £23,000 p.a. and has not had a rent increase at the last rent review. The shop measures approximately 492 sq ft to the ground floor with an additional 500 sq ft in the basement.

Included in the freehold are three flats, two above and one to the rear of the ground floor which are all sold off on long leases and producing ground rent income.

Flat 321 a - 125 year lease from March 1995 . £300 p.a. ground rent

Flat 321 b - 125 year lease from March 1995 . £300 p.a. ground rent

Rear Flat - 125 year lease from November 2002. £300p.a. ground rent.

Shop EPC Band - C

The freehold includes the loft space which has not been converted/developed (subject to any necessary consents)

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

General Information

Tenure: Freehold

Price/premium: £320,000

Legal fees: Not specified

Rateable value: The VOA website states a rateable value of £12,750 payable at the prevailing rate.

Lease details: 15 Year lease from January 2017 - currently producing £23,000 p.a. Flats sold off on long leases - producing a total of £900 p.a. in ground rent.

Features

'E' Use class
Beautifully presented throughout
Character property
Commercial investment
Favoured location
Freehold
Public car park nearby

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).