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£199,950 Mortgage options

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Kingston Road, New Malden

£199,950 Mortgage options

Shop for sale

Kingston Road, New Malden

Description

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Property features

  • Tenure: Leasehold

Property description

Blakes Chartered Surveyors and Estate Agents are pleased to offer an attractive investment proposition to the market for a well-located A1/A2 ground floor retail unit, consisting of some 840sq.ft. internal floor area with the additional benefit of a small rear yard.

Situated in between Kingston and New Malden town centers in a popular and busy parade of retail units consisting of of a mix of A1/A2 & A3 uses. In our opinion, this parade is likely to benefit from increased custom resulting from the planned regeneration of the former Homebase store situated opposite where plans have been prepared for a large residential scheme consisting over 200 units of accommodation. The immediate surrounding area is mixed residential and commercial with the retail park opposite (currently Matalan and Aldi stores) generating additional custom to this local parade.

The property is currently let to Ladbrokes Plc who have been in occupation for many years and have recently renewed their occupational FRI lease for a term of 10 years from June 2018 at an annual rent of £13,500 (with 5 yearly upward only rent reviews) reflecting an initial annual gross yield of 6%.

The property is to be sold on a new 999-year lease at a peppercorn ground rent. The lease permits use within A1 or A2 of the Town & Country Planning Use Class Orders 1987.

The annual income of £13,500 reflects a gross initial yield of 6.75% on the asking price, excluding purchaser's costs.

Guide Price: £199,950 Leasehold

Please call Blakes Chartered Surveyors & Estate Agents for further information.

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Map

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Nearby services within a 4 mile radius

Stations
Schools
Food stores
Health

Nearby services within a 4 mile radius

Stations
Schools
Food stores
Health

Street view is not available at this location

Call 020 8115 1483

DISCLAIMER

Property reference CS0019. 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. This property advertisement does not constitute property particulars. The information is provided and maintained by Blakes Chartered Surveyors & Estate Agents - Kingston upon Thames. Please contact the property advertiser directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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Contact Blakes Chartered Surveyors & Estate Agents - Kingston upon Thames about Shop for sale £199,950

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