Fife Road, Kingston Upon Thames, Surrey, KT1
Guide Price
£1,450,000
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Mixed use property for sale
- USE CLASSUse class orders: A3 Restaurants and Cafes
A3
Key features
- Unbroken income producing investment
- Mixed use
Description
LOCATION: - The property is situated on a busy thoroughfare within walking distance of Kingston mainline railway station and the Bentall Centre. A wide range of multiple retailers are located within the vicinity such as Foxtons Estate Agents, Warhammer, Antony James, Natterjacks, Morley's, Admiral, Sevenoak Hifi and Leaders. There are short term parking bays at the front of the property promoting quick-stop trade.
DESCRIPTION: - The property comprises a freehold mixed use income producing investment. There is a well-established café occupying the ground floor. The upper parts comprise a 2 bedroom split level flat let to a single occupier and 3 room HMO let on individual ASTs. The property therefore offers a spread of income. There is a rear yard with vehicular access. There are four car parking spaces, two of which are demised to the commercial tenant. There may be some potential to add value by way of further asset management.
ACCOMMODATION: -
Ground floor commercial 109m2 (1,173ft2) approx.
One car parking space
35A Fife Road
Two-bedroom flat
37A Fife Road
Room 1
Room 2
Room 3
INCOME: -The income from the ground floor commercial shop and upper residential parts is £97,120 per annum exclusive
TENURE: - The property is offered freehold subject to the following occupational leases and ASTs.
The ground floor is currently let to an individual trading as Coin de Paris café for a period of 15 years from the 8th of August 2015 with a rent review on the 8th of August 2025 subject to 6 months prior notice. The passing rent is £52,000 per annum exclusive
35a Fife Road is let under a single occupier who is currently holding over at £1400 pcm.
Room 1 37a Fife Road is let under an assured shorthold tenancy for a term of 12 months and a day from the 1st of September 2024 at £975 pcm.
Room 2 37a Fife Road is let under an assured shorthold tenancy for a term of 12 months and a day from the 17th of September 2024 at £700 pcm.
Room 3 37a Fife Road is let under a under an assured shorthold tenancy for a term of 12 months from the 25th of May 2024 at £685 pcm.
USE/PLANNING: - We understand that the commercial use falls within Class E of the current Town and Country Planning (Use Classes) Order. We understand that the upper parts fall within Class C3/C4 of the latest Town and Country Planning (Use Classes) Order.
Interested parties should make enquiries of the local authority in respect of their intended use prior to offer.
PRICE: - £1,450,000 (one million four hundred and fifty thousand pounds). This reflects a gross yield of 6.69%.
BUSINESS RATES: -
Council tax -
Ground floor commercial element - £42,000.
35A - council tax band C
37A - council tax band D
Enquiries should be made of the Valuation Office Agency in this regard.
EPC RATINGS: -
35-37 Fife Road (commercial ground floor) - 54 Band C
35A Fife Road - 52 Band E
37A Fife Road - 62 Band E
VAT: - We understand that VAT is not to be chargeable in respect of rents and other outgoings on this property.
VIEWINGS: -Viewings by prior arrangement - please telephone
DESCRIPTION: - The property comprises a freehold mixed use income producing investment. There is a well-established café occupying the ground floor. The upper parts comprise a 2 bedroom split level flat let to a single occupier and 3 room HMO let on individual ASTs. The property therefore offers a spread of income. There is a rear yard with vehicular access. There are four car parking spaces, two of which are demised to the commercial tenant. There may be some potential to add value by way of further asset management.
ACCOMMODATION: -
Ground floor commercial 109m2 (1,173ft2) approx.
One car parking space
35A Fife Road
Two-bedroom flat
37A Fife Road
Room 1
Room 2
Room 3
INCOME: -The income from the ground floor commercial shop and upper residential parts is £97,120 per annum exclusive
TENURE: - The property is offered freehold subject to the following occupational leases and ASTs.
The ground floor is currently let to an individual trading as Coin de Paris café for a period of 15 years from the 8th of August 2015 with a rent review on the 8th of August 2025 subject to 6 months prior notice. The passing rent is £52,000 per annum exclusive
35a Fife Road is let under a single occupier who is currently holding over at £1400 pcm.
Room 1 37a Fife Road is let under an assured shorthold tenancy for a term of 12 months and a day from the 1st of September 2024 at £975 pcm.
Room 2 37a Fife Road is let under an assured shorthold tenancy for a term of 12 months and a day from the 17th of September 2024 at £700 pcm.
Room 3 37a Fife Road is let under a under an assured shorthold tenancy for a term of 12 months from the 25th of May 2024 at £685 pcm.
USE/PLANNING: - We understand that the commercial use falls within Class E of the current Town and Country Planning (Use Classes) Order. We understand that the upper parts fall within Class C3/C4 of the latest Town and Country Planning (Use Classes) Order.
Interested parties should make enquiries of the local authority in respect of their intended use prior to offer.
PRICE: - £1,450,000 (one million four hundred and fifty thousand pounds). This reflects a gross yield of 6.69%.
BUSINESS RATES: -
Council tax -
Ground floor commercial element - £42,000.
35A - council tax band C
37A - council tax band D
Enquiries should be made of the Valuation Office Agency in this regard.
EPC RATINGS: -
35-37 Fife Road (commercial ground floor) - 54 Band C
35A Fife Road - 52 Band E
37A Fife Road - 62 Band E
VAT: - We understand that VAT is not to be chargeable in respect of rents and other outgoings on this property.
VIEWINGS: -Viewings by prior arrangement - please telephone
Brochures
Fife Road, Kingston Upon Thames, Surrey, KT1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Kingston Station0.1 miles
- Hampton Wick Station0.4 miles
- Norbiton Station0.8 miles
Notes
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