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Replingham Road, SW18 Investment for sale

£300,000

Property description

    Property features

  • Investment
    (Mixed use)
  • Dimensions: 64 m2
    (691 ft2)

The premises comprise a mid-terrace mixed-use restaurant at ground floor floor level. It predominantly comprises restaurant seating space with a kitchen and storage space to the rear. The restaurant has two separate entrances, the main entrance is situated at 201 Replingham Road to the left had side of the property and to the right hand side of the door which provides access for the residential above. The service entrance for deliveries is to the rear on Pirbright Road.

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.

Terms & conditions: The restaurant premises are let to Narayan Kuma Lama t/a Triphal Indian Cuisine on a full repairing and insuring lease for a term of 15 years from 13th October 2009, expiring on 12th October 2024 with no option to break. The current annual rent is £18,000 per annum and is subject to an upward only rent review at the end of every fifth year of the term. The next rent review is due in 2019. Total Net Annual Income is currently £17,900 p.a.

Business rates: To be advised.

Rent: The restaurant premises are let to Narayan Kuma Lama t/a Triphal Indian Cuisine on a full repairing and insuring lease for a term of 15 years from 13th October 2009, expiring on 12th October 2024 with no option to break. The current annual rent is £18,000 per annum and is subject to an upward only rent review at the end of every fifth year of the term. The next rent review is due in 2019. Total Net Annual Income is currently £17,900 p.a.

Sale: We are instructed to seek offers in excess of £300,000 (three hundred thousand pounds), reflecting a net initial yield of 5.78%, having allowed for purchaser’s costs at 3.3%.

Additional information

Tenure

Long leasehold

Nearest stations

  • Southfields (0.3 miles)
  • Earlsfield (0.6 miles)

Property location map

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