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Agent's details

64-66 Richmond Road, Kingston upon Thames, Surrey KT2 5EH

For sale: £1,375,000.00|2,854 Sq Ft|Residential, Retail, Retail - Out of Town, Restaurant/Cafes

Property details

FOR SALE£1,375,000.00
SIZE2,854 Sq Ft
ADDRESS64-66 Richmond Road, Kingston upon Thames, Surrey KT2 5EH
TYPEResidential, Retail, Retail - Out of Town, Restaurant/Cafes
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON16th November 2021

Description

Located close to Kingston town centre and railway station.
3 storey retail and residential property.
Ground floor & basement retail leased to Kobkun Thai Retreat Limited on a 10 year FRI lease from 5th August 2021 at £26,000 pa.
First & second floors comprise 2 x 2-bed and 1 x 1-bed flats.
Potential to increase the total rental income to £77,000 per annum.
Potential to sell the 3 flats for £1.365 million.
Freehold.
Offers are invited in excess of £1,375,000 (One Million Three Hundred & Seventy-Five Thousand Pounds), reflecting an NIY of 4.3% and a potential reversion to 5.25%.

The property comprises a 3 storey terrace consisting of a double fronted shop with basement at ground floor level, together with residential accommodation over first and second floors.
The upper floors are approached from a dedicated entrance at the front of the property from Richmond Road and comprises 2 x 2-bedroom and 1 x 1-bedroom self-contained flats.
There is a small yard at the rear with access to the rear of the property from East Road.

PROPOSAL
We are instructed to seek offers in excess of £1,375,000 (one million three hundred and seventy five thousand pounds) subject to contract, reflecting an NIY of 4.3% and a potential reversion to 5.25%.

VAT
We are advised that the property is not elected for VAT.

EPC
Ground & Lower Ground: to be commissioned
Flat A: D (67)
Flat B: D (62)
Flat C: D (63)

Location

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Location: 64-66 Richmond Road, Kingston upon Thames, Surrey KT2 5EH

Richmond (3.4 miles)

Wimbledon (4.0 miles)

Kew Gardens (4.3 miles)

Kingston (0.2 miles)

Hampton Wick (0.5 miles)

Norbiton (0.7 miles)

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