ADDRESS122 & 176 Walton Road, East Molesey, Surrey KT8 0HP
TYPEFlat, General Retail, Mixed Use, Residential, Retail, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON5th November 2020
Investment Consideration: Gross Initial Yield: 5.22% Rental Income: £30,000 p.a.* VAT is NOT applicable to this property Comprises a ground floor shop with a self contained maisonette on the first and second floor Entirely let on a lease expiring in 2036 (no breaks) Located in an affluent South-West London suburb Nearby occupiers include Tesco Metro, Subway and Poundland, amongst many others.
Property Description: The property comprises a ground floor shop and self-contained maisonette on first and second floor.
The property provides the following accommodation and dimensions: Ground Floor: Shop - 55.55 sq m (598 sq ft) First/Second Floor: Maisonette - 69.00 sq m (743 sq ft) 3 Rooms, Kitchen and Bathroom
Tenancy: The entire property is at present let to B. Burns t/a Hair Salon for a term of 24 years from 10th March 2012 at a current rent of £27,000 per annum and the lease contains full repairing and insuring covenants. No break clause. Fixed increase to £30,000 p.a. in 2021. The vendor will top up the rent so that the buyer receives the equivalent of £30,000 from completion.
Location: East Molesey is an affluent commuter town located some 14 miles south-west of Central London between Kingston and Walton-on-Thames in Surrey. The town is located south of the A308 which links to the M3 (Junction 1) and M25 (Junction 12). Hampton Court Rail Station provides regular services to London Waterloo (fastest journey time 37 minutes). Occupiers close by include Tesco Metro, Poundland, Princess Alice Hospice and Subway, amongst many others.