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Cheam - Freehold Shop and Residential Investment

For sale: £420,000.00|753 Sq Ft|Retail, Offices, Office, Residential

Property details

FOR SALE£420,000.00
SIZE753 Sq Ft
ADDRESS49 The Broadway, Cheam, Sutton, Surrey, SM3 8BL
TYPERetail, Offices, Office, Residential
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON18th November 2021

Description

Investment Consideration:
Gross Initial Yield: 5.71%
Rental Income: £24,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor shop t/a massage therapy with storage at basement and residential studio at first floor
Entire property newly refurbished in 2021
Retail frontage benefits from large ground floor windows on all sides
The ground floor extension was carried out in 1996. According to the Vendor, the extension footings were built deep enough for a first-floor extension to be built
Total net internal area of 70 sq m (753 sq ft)
Located in a prime central location within Cheam Village within 5-minute walk from Cheam Train Station
Occupiers nearby include Waitrose, Café Nero, Sainsburys, Tesco, amongst many more local traders.

Property Description:
The property is arranged as a ground floor shop with offices at the rear including WC and kitchenette (A1 usage). There is a cellar below and a studio accommodation on the first floor with separate kitchen and shower room. The property is located within a conservation area of Cheam Village and property's status is Listed.

The property provides the following accommodation and dimensions:
The property is arranged as a ground floor shop t/a massage therapy. There is a cellar below and a studio accommodation on the first floor with separate kitchen and shower room. The property is located within a conservation area of Cheam Village and property's status is Listed.

The property provides the following accommodation and dimensions:
Ground Floor: 40 sq m (430 sq ft)
Reception Area, Kitchenette, 2 Rooms
Cellar/Storage: 8 sq m (86 sq ft)
First Floor Studio: 22 sq m (237 sq ft)
Living Room/Bedroom, Kitchen, Bathroom/WC
Total net internal area: 70 sq m (753 sq ft)

Tenancy:
The property is at present let to Beauthetics By Naina Ltd t/a Hair Salon with a personal guarantee from the Director for a term of 6 years and 11 months from 27th September 2021 at a current rent of £24,000 per annum and the lease contains full repairing and insuring covenants. The tenant has right to determine lease in the 5th year with 6 months notice. Rent review every 3rd year linked to RPI. Rent deposit held of £6,000.

Location:
Cheam is an area in the west of the London Borough of Sutton, within Greater London. Cheam is 10.9 miles (17.5 km) southwest of Charing Cross. It is divided into two main areas, North Cheam and Cheam Village, both of which are centred on retail districts. Cheam is bordered by Worcester Park to the north-west, Morden to the north-east, Sutton to the east, Ewell to the west and Banstead and Belmont to the south. Cheam Village is centred on the crossroads between Sutton, North Cheam, South Cheam and Ewell. As well as bus services, it is served by Cheam mainline station which is in London Travelcard Zone 5 and one stop from Sutton, about 1 mile (1.6 km) away, and two from Epsom, about 3 miles (4.8 km) away. Services from Cheam to central London include direct trains to Victoria which take about 30 minutes. The property is located in a prime central location within 5-minute walk from Cheam Train Station. Occupiers nearby include Waitrose, Sainsburys` and Tesco, amongst many more local traders.

Location

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Location: 49 The Broadway, Cheam, Sutton, Surrey, SM3 8BL

Morden (3.1 miles)

South Wimbledon (4.0 miles)

Wimbledon (4.3 miles)

Cheam (0.4 miles)

West Sutton (0.7 miles)

Sutton (1.1 miles)

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