Commercial Shop and Annual Ground Rent Investment – Freehold For Sale
Property Features
- Commercial Shop and Annual Ground Rent Investment
- A ground floor Haridressing salon currently let until 2028 plus annual ground rents from three flats above
Property Summary
Full Details
Marketing Details
LOCATION:
The property is situated within a busy parade of shops fronting the A240 Ewell Road close by to its junction with Broomfield Road and between Tolworth and Surbiton Town Centres.
DESCRIPTION:
A ground floor retail shop premises forming part of a three storey extended mixed residential and commercial building comprising three flats on the rear and upper floors which have been sold off on Long Leasehold Interests.
The ground floor shop has been refurbished by the current Hairdressing and Beauty Salon Tenant and comprises the following areas/dimensions:
Net Frontage – 17’ 6” (5.33m)
Internal Width – 16’ (4.88m)
Shop Depth – 29’ (8.8 m)
Net Internal Area – 460 square feet (42.7 square metres)
There are three x one bedroom self-contained residential flats arranged on the first and second floors over and also within the rear single storey extension building.
There is a separate rear pathway and communal entrance door accessing the Flats.
TENANCY DETAILS:
Ground Floor Shop – Let on an RICS Small Business Retail Lease to an Individual trading as ‘Shade Hair and Beauty Salon’. They have been successfully trading from the Salon since 2019.
The Lease is for term of years expiring on 17th February 2028
Flat A – Sold off on a Long Leasehold Interest for a term of 125 years from 25th March 2004 (103 years unexpired).
Flat B – Sold off on a Long Leasehold Interest for a term of 125 years from 25th March 2004 (103 years unexpired).
Flat C – Sold off on a Long Leasehold Interest for a term of 125 years from 25th March 2004 (103 years unexpired).
TOTAL ANNUAL RENTAL INCOME:
Commercial Shop Tenancy - £11,000 per annum exclusive
Annual Ground Rent (Flats) - £300 (£100 per annum per flat)
Total Annual Rental = £11,300 per annum exclusive.
The annual ground rent for each Flat is due to rise to £200 per annum on 25th March 2029. (£600 pax total). The annual ground rent doubles every twenty five years of the Lease term thereafter.
TERMS:
The Freehold Interest in the property, subject to the existing Tenancies, is offered for sale.
PRICE:
£165,000 Freehold
FURTHER DETAILS:
Strictly by appointment with Sole Agents, Wallakers Commercial, on 020 8399 5381.
FTA: Seamus Mullaney: smullaney@wallakerscommercial.com
NB: Under the terms of the Estate Agents Act 1979, we must inform all applicants that an employee of Wallakers has a vested interest in this property.