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3 Medfield Street, Putney SW15 Investment for sale


Property description

    Property features

  • Investment
  • Dimensions: 128 m2
    (1382 ft2)

The property comprises a three storey Grade II Listed former public house with a convenience store on the ground floor and two self-contained one bedroom flats sold off on long leases on the upper floors.

Location: The property is situated on the northern side of Medfield Street, close to its junction with Roehampton Lane (A306). The property is very well served by a number of bus services to Putney, Richmond, Tooting, Wimbledon, Clapham Junction and London Victoria. The property is 1.4 miles from Barnes (South Western Railway) Station and 1.7 miles from East Putney District Line Station.

Terms & conditions: The ground floor commercial property is held on a full repairing and insuring lease to Mr Naresh Das trading as Lloyds Local Convenience Store. The lease is for a term of 15 years from 24 March 2018 at a rent of £23,500 per annum. There is a rent review in 25 March 2021 (not activated) and then every 3 years after. The rent review clause allows the rent to be assessed by RPI. We have assessed that the rent as at March 2021 should be £25,084 per annum based on the lease calculations. Flat 1 - 125 years from 19 June 2014 at a ground rent of £400 per annum, increasing by £400 per annum every 25 years. Flat 2 - 125 years from 17 January 2014 at a ground rent of £400 per annum, increasing by £400 per annum every 25 years.

Sale: £360,000 equating to a NIY of 6.94%, based on the projected income.

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