Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Total space - 2,033 square feet
- Second floor residential unit - 501 square feet
- Third floor residential unit - 372 square feet
- Sale Price £950,000
- Retail and residential Investment sale
- 6% Gross yield
- Commercial unit, rear yard plus two residential units
- Attractive South West London location
The mixed use building is configured as one commercial unit divided over ground and basement floors, three flats on the upper floors and a rear yard. Please note, the first floor flat is sold off on a long leasehold (with nil ground rent).
The freehold sale benefits from the remaining two flats which are currently occupied by tenants on ASTs, comprising: 1 x one bedroom flat on the second floor and one x studio flat on the third floor. As well as the commercial unit, currently used as a residential estate agency – trading as Stirling Ackroyd.
The current Income comprises; The rear yard generates an annual rent of £5,849 per annum, rising in line with RPI every three years until the end of lease in 2034. (Next review is in June 2026).
The current residential income (let on ASTs) comprises 1 X one bed flat producing £11,400 per annum plus 1 x studio flat producing £11,700 per annum. The total residential income is £23,100
Commercial lease summary – Annual Rent £28,000 until November 2025, then rising to £29,000 per year until the lease expiry in Nov 2027.
The total income for this asset is £56,949 per annum. Sale price: £950,000, 6 per cent Gross yield, before purchaser costs.
Location
The building is located on Garratt Lane, close to the junction with Magdalen Road. The local authority is London Borough of Wandsworth.
Garrett Lane (A217) is a thriving commercial location and benefits from a diverse range of independent and national brands including Sainsburys, Gails Bakery, KFC, Headmasters and Oxfam.
Earlsfield Railway Station (Zone: 3) is located very close to the building. Wimbledon Park Station (District Line Zone: 3) and Southfields Station (District Line, Zone: 3) are also close by.
Viewings
By appointment with Stirling Ackroyd
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Property reference 199502-1. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Stirling Ackroyd - Commercial.
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