26 Strutton Ground, London, SW1P

Investment Consideration:
Gross Initial Yield: 6.00%
Rental Income: £27,000 p.a.
Let until 2039. No breaks. Rent review every 5 years.
VAT is applicable to this property
Comprises ground floor shop t/a food retailer
Tenant paid a premium of £25,000 for the lease
Central London location within walking distance to Big Ben and Victoria train station
Situated on pedestrianised Strutton Ground, with occupiers nearby including Greggs, Costcutter and Star Pharmacy, amongst other retailers.

Property Description:
The property comprises ground floor retail shop and provides the following accommodation and dimensions:
Ground Floor: 37 sq m (398 sq ft)
Open plan retail, Storage, WC

Tenure:
Long Leasehold. Held on a 200 year lease from 24th June 2008 at a ground rent of £250 p.a. Reversion 2208.

Tenancy:
The property is at present let to Individuals for a term of 20 years from 8th August 2019 at a current rent of £27,000 per annum and the lease contains full repairing and insuring covenants. Upwards only, open market rent review every 5th year. No breaks. Tenant paid premium of £22,000 for the lease.

Location:
Strutton Ground Market is a small street market held on weekdays near Victoria, London. The market is located on a narrow cobbled street - Strutton Ground - between Victoria Street and Greycoat Place/Great Peter Street. This market is one of the most centrally located street markets in London, being close to the Palace of Westminster and Victoria railway station. The property is located on pedestrianised Strutton Ground with occupiers nearby including Greggs, Costcutter and Star Pharmacy, amongst others.