LEASEHOLD ASSIGNMENT IN EXCELLENT LOCATION: 137 WANDSWORTH HIGH STREET, WANDSWORTH, SW18 4JB
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We are delighted to advise you of a great opportunity to acquire the Leasehold Interest on this excellently located, A1 retail shop with uppers comprising 5 bedrooms, bathroom, kitchen and separate rear access to the residential accommodation. The Gross Internal Area of the A1 retail shop only equates to approximately 61.69 sqm/664 sq ft and is currently trading as a Watch/Clock Shop on one side of the shop and Key Cutting services on the other. There is a rear storeroom with a good sized yard with rear access and 5 bedrooms, bathroom and kitchen above.
Situated right in Wandsworth High Street. This is a great footfall area but with scope to increase trade further as Wandsworth Local Authority have plans approved to pedestrianise the High Street with major developments taking place to improve Wandsworth and the one-way system. Wandsworth is considered a very affluent area with Wandsworth Town rail station being approximately half a mile and Earlsfield train station within approximately a 1 mile radius. Both very sought after locations.
The A1 retail shop will be vacant upon the day of completion, however, we could rent this for you should you wish to sub-let the property (Subject to Landlord’s Consent). If you are an owner occupier, the premises would ideally suit an office, coffee shop, nail bar, hair salon, barbers etc.
INCOME RECEIVED TO YOU:-
Basically, you can purchase this lease and pay zero rent as the rent you collect from the uppers equates to £28,800 per annum and you pay £29,000 rent per annum.
YOUR INGOING COSTS:-
Rent: £29,000 per annum (paid monthly or quarterly)
Premium: Leasehold Premium for the inventory, goodwill etc: Offers in the region of £80,000
You will need to pay the equivalent of 3 months rent which the landlord will hold as a security deposit
You will need to pay 3 months rent is payable in advance to the landlord
The current tenant to pay his own legal fees (awaiting confirmation)
You to pay your own legal fees
And it is usual practice for the ingoing tenant to pay the landlord’s legal fees
You are responsible for the Business Rates and all utility bills however the Business Rates are currently exempt.
You will be responsible for the Building Insurance which is usually paid by the freeholder and then proportioned to all tenants. The freeholder usually invoices you in addition to the rent payable.
Admin/Reference Fee (all inclusive) which is £500. This is a one-off fee.
LEASEHOLD GUIDE PRICE: OFFERS SOUGHT IN THE REGION OF: £90,000 ‘ALL AT’
To arrange a viewing, please contact either Victoria Bennett on 07758265681 or Zak Abedi on 07771000906.