Investment Consideration:
Gross Initial Yield: 6.18%
Rental Income: £44,500 p.a.
VAT is NOT applicable to this property
Retail shop let until 2039. No breaks. Rent reviews in 2029 and 2034.
Comprises ground floor shop and 3-bedroom maisonette at first and second floor
Property benefits from vehicular access at rear and 2 car parking spaces
Situated within short walk to Tolworth train station and opposite M&S Foodhall, with nearby occupiers including Domino`s Pizza and Poundland, amongst others
Property Description:
The property comprises ground floor shop, currently operating as a nail salon and
3-bedroom maisonette arranged over first and second floor. The property benefits from 2 parking spaces at rear.
The property provides the following accommodation and dimensions:
Ground Floor: Nail Salon 71 sq m (764 sq ft)
Retail Area, Storage, WC
First/Second Floor: Maisonette 67 sq m (721 sq ft)
4 Rooms, Reception, Kitchen, Bathroom/WC
Total area size: 138 sq m (1,485 sq ft)
Tenancy:
The ground floor shop is at present let to an Individual (with guarantor) for a term of 15 years from 11th October 2024 at a current rent of £17,500 per annum and the lease contains full repairing and insuring covenants. Rent review every fifth year open market upward only. No break clause. Deposit held of £8,750 (6 months).
The first and second floor maisonette is let to Omnia Housing Ltd on a Guaranteed Rent Agreement for a term of 6 Years from 9 August 2026 at current rent of £27,000 per annum.
Location:
Surbiton is a suburban neighbourhood of south-western Greater London, within the Royal Borough of Kingston upon Thames. It is situated next to the River Thames, 11 miles (18 km) southwest of Charing Cross. Surbiton is served by a number of regular bus services. Transport for London bus routes 71,281,406,41,465, K1, K2, K3, and K4. Railways have served the town since it was founded. Surbiton and Berrylands stations are both served by South Western Railway services. It provides rail links to London Waterloo, Surrey and Hampshire. The property is located within short walk to Tolworth train station and opposite M&S Foodhall with nearby occupiers including Domino`s Pizza and Poundland, amongst others.
