Restaurant for sale

197-199 Replingham Road, London, SW18

Under Offer 1,552 sq. ft. | £375,000

Property Description

Commercial information

  • 1,552 sq ft (144 sq m)

Full description

KFH ARE NOW IN RECEIPT OF AN OFFER FOR THE SUM OF 360,000 FOR 197-199 REPLINGHAM ROAD. ANYONE WISHING TO PLACE AN OFFER ON THE PROPERTY SHOULD CONTACT ED JEFFS, 5 COMPTON ROAD, WIMBLEDON, SW19 7QA (020 8739 2090).

Location:
The property is located in the affluent London suburb of Southfields. Southfields Underground Station is 0.3 of a mile from the property and is the main access to the Wimbledon Tennis Championships each summer. It is a District Line station which also provides excellent access to West London, Victoria and the City and southwest into Wimbledon Town Centre. The property is also located less than a mile to the busy retail area of Wandsworth Town which provides excellent links to Central London via Clapham Junction.

Description:
The property comprises a mid-terrace mixed-use restaurant and residential building arranged over ground, first and second floors. At ground floor level The Slum bar/restaurant is situated as a triple fronted unit on a bend in Replingham Road. It comprises predominantly restaurant seating space with kitchen and storage space to the rear. Access to the restaurant is at the front of the property through 197 or 199 Replingham Road or at the rear for deliveries on Pirbright Road. The upper parts comprise of three residential flats with access provided from the street at 197 Replingham Road and 114 Pirbright Road.

Accommodation

The premises afford the following approximate net internal floor areas:

Ground Floor 140.25 sqm 1,510 sqft
Enclosed Yard 3.92 sqm 42 sqft

Tenancy:
The restaurant premises are let to Michael Shane Croner t/a 'The Slum' on a full repairing and insuring lease for a term of 10 years from 30th March 2015, expiring on 29th June 2025 with no option to break. The current annual rent is 20,000 per annum and is subject to an upward only rent review at the end of the fifth year of the term. All the residential parts are sold off on long leases. 197b and 197c Replingham Road are both let for a period of 99 years from 29th September 1979 at a current ground rent of 50 p.a. each. 114 Pirbright Road is let for a period of 119 years from 24th June 1980 at a ground rent of 120 p.a. We understand the Total Income is presently 20,220 p.a.

Tenure:
Freehold

Asset Management:
ERV for the restaurant unit is in the region of 23,000 p.a. to 25,000 p.a. It may be possible for residential planning consent to be granted on the ground floor (this would need to be explored with the council). There is potential income to be made from the future lease extensions on both 197B and 197C Replingham Road with each flat having an unexpired term of 62 years.


Proposal:
We are instructed to seek offers in excess of 375,000 (three hundred and seventy five thousand pounds) equating to 241.62 per ft2 and reflecting a net initial yield of 5.18%, having allowed for purchaser's costs at 4.11%.


More information from this agent

Nearest stations

  • Southfields (0.3 mi)
  • Earlsfield (0.6 mi)
  • Wimbledon Park (0.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Kinleigh Folkard & Hayward, London

KFH House, 5 Compton Road, Wimbledon, London, SW19 7QA

020 8012 5505 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Southfields (0.3 mi)
  • Earlsfield (0.6 mi)
  • Wimbledon Park (0.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Kinleigh Folkard & Hayward, London

KFH House, 5 Compton Road, Wimbledon, London, SW19 7QA

020 8012 5505 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 197_199_Replingham_Road. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Kinleigh Folkard & Hayward, London. Please contact the selling agent or developer 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.

Map data OpenStreetMap contributors.