A freehold commercial investment let to Tote Bookmakers with potential for 2 residential schemes prepared
Isleworth is a suburb in the London Borough of Hounslow to the south west of central London just to the North of Twickenham. On the South side of South Street in the Isleworth Riverside conversation area a shop, flat and basement (with side covered passageway) in a local parade near Co-op. Old Deer Park with Royal Mid-Surrey Golf Course and the River Thames are just to the east with Isleworth mainline about ¾ mile away.
The subject property comprises of two storey building with the basement and ground floor let as a commercial unit and the first floor flat accessed via a shared side passageway sold off on a long lease. The flat benefits from a rear garden. There is potential for 2 residential schemes with one converting the basement into a 2 bedroom flat and converting the shop into a 2 bedroom flat. Further plans available on request.
Gross internal area
Ground Floor & basement
37 South Street, Isleworth, Middlesex, TW7 7AL
Tote Bookmakers Ltd
Ground Floor: 650sq.ft
10 years FRI lease 28/05/2009 with upward only rent 5years review
1st Floor Flat
Michelle Katherine Frost
2 bed self-contained flat
189 years lease
with effect from 01/06/1983
*Note Landlord served rent review notice - £26,000 per annum
Each party to bear their own legal costs incurred in this transaction, subject to the prospective purchaser solicitors undertaking to pay the landlord’s abortive costs if the prospective purchaser withdraw from the transaction.
An opportunity to purchase a freehold commercial investment premises in a sought after location in east London
The subject property is situated on Barking Road on the corner of Hockley Avenue around 600 yards from the new development plans of Upton Park, the previous home of West Ham Football Club. The immediate vicinity is residential and falls in the London Borough of Newham. Both Upton Park and East Ham Stations provide links onto the District Line and are within 1.2km from the property.
The property includes a ground floor retail premises where a tenant currently trades as a local convenience store. This stretches the entire length of the site and is an open plan sales area. There is a flat above although this is already sold off on a long leasehold agreement at a peppercorn rent. There is approximately 90 years remaining on the lease. The current rent being paid by the tenant is £19,500 per annum and the lease expires in September 2022 where there will be a potential to agree a new lease at the market rent. The ground floor has a tiled floor throughout, strip lighting and a rear loading door. The shop also benefits from a forecourt fronting onto Barking Road. The entrance to the 2bedroom flat is also from Barking Road.
Each party to bear their own legal costs incurred in this transaction. The prospective purchaser is to give an undertaking through their solicitors prior to the commencement of legal formalities for any abortive legal costs should they withdraw from the transaction.