icons_size_white icons_size
menu

Agent's details

London SM6 – Freehold Retail & Residential Investment

For sale: £1,550,000.00|3,307 Sq Ft|Retail, General Retail, Retail - High Street, Mixed Use, Other Property Types & Opportunities

Property details

FOR SALE£1,550,000.00
SIZE3,307 Sq Ft
ADDRESS179-181 Stafford Road, Wallington, Surrey, SM6 9BT
TYPERetail, General Retail, Retail - High Street, Mixed Use, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON24th November 2021

Description

Investment Consideration:
Gross Initial Yield: 5.95%
Rental Income: £92,200 p.a.
VAT is NOT applicable to this property
Comprises 2 x Retail Shops, 1 x 1-Bed Flat and 8 x Studio Flats
Total area size of 313 sq m (3,307 sq ft)
Development potential for additional studio flat at the rear, subject to obtaining the necessary consents
Located within 0.7 miles from Wallington Train station, which provides direct service to central London in 30 minutes
Nearby occupiers include pharmacy, convenience store, restaurant/takeaway`s, café and others.

Property Description:
Comprises 2 x Retail Shops, 1 x 1-Bedroom Flat and 8 x Self-Contained Studios, arranged over ground, first and second floor providing the following accommodation and dimensions:
No.179
Ground Floor:
Retail Shop 35.20 sq m (379 sq ft)
Studio Flat C 22.66 sq m (244 sq ft)
Studio Flat D 22.85 sq m (246 sq ft)
Studio Flat E 16.00 sq m (172 sq ft)
Studio Flat F 24.43 sq m (263 sq ft)
First Floor:
1-Bed Flat A 42.36 sq m (456 sq ft)
Second Floor:
Studio Flat B 32.23 sq m (347 sq ft)

No.181
Ground Floor:
Retail Shop 47.75 sq m (514 sq ft)
First Floor:
Studio Flat 1 27.74 sq m (234 sq ft)
Studio Flat 2 17.75 sq m (191 sq ft)
Second Floor:
Studio Flat 2 24.25 sq m (261 sq ft)

Tenancy:
No. 179 Stafford Road
The retail shop has let agreed* to an Individual for a term of 10 Years from June 2022 at a current rent of £13,000 per annum and the lease contains full repairing and insuring covenants. Upward only rent review every 5th years. No breaks. Deposit held of £3,250. Rent free period of 2 months from completion.
*Note - Heads of terms have been agreed and with solicitors.
Flat A is at present let on AST to an Individual for a term of 12 Months from 1st April 2019 at a current rent of £9,600 per annum. Deposit held of £750.
Studio B is at present let on AST to an Individual for a term of 12 Months from 14th April 2021 at a current rent of £6,900 per annum. Deposit held of £525.
Studio C is at present let on AST to an Individual for a term of 12 Months from 1st August 2019 at a current rent of £7,020 per annum. Deposit held of £585.
Studio D is at present let on AST to an Individual for a term of 12 Months from 30th November 2020 at a current rent of £7,020 per annum. Deposit held of £585.
Studio E is at present let on AST to an Individual for a term of 12 Months from 9th January 2020 at a current rent of £6,600 per annum. Deposit held of £550.
Studio F is at present let on AST to an Individual for a term of 12 Months from 5th October 2019 at a current rent of £7,020 per annum. Deposit held of £585.

No. 181 Stafford Road
The ground floor shop is at present let to an Individual for a term of 10 Years from 6th May 2022 at a current rent of £15,000 per annum and the lease contains full repairing and insuring covenants. Upward only rent review every 5th year. Tenant option to determine in the 5th year with minimum 6 months notice. Deposit held of £2,500.
Studio 1 is at present let on AST to an Individual for a term of 12 Months from 29th July 2020 at a current rent of £7,140 per annum. Deposit held of £595.
Studio 2 is at present let on AST to an Individual for a term of 12 Months from 1st October 2020 at a current rent of £6,300 per annum. Deposit held of £525.
Studio 3 is at present let on AST to an Individual for a term of 12 Months from 16th June 2019 at a current rent of £6,600 per annum. Deposit held of £535.

Location:
Wallington is a town in the London Borough of Sutton, in South London, England. It is 9.7 miles south south-west of Charing Cross. Services operate from Wallington to Victoria and London Bridge via West Croydon and to Epsom Downs and Epsom via Sutton and beyond. The property is located 0.7 mile from Wallington train station, which provides direct service to central London in 30 minutes. Occupiers nearby include pharmacy, convenience store, restaurant/ takeaway`s, café and others.

Location

marker
Location: 179-181 Stafford Road, Wallington, Surrey, SM6 9BT

Morden (3.8 miles)

Colliers Wood (4.4 miles)

South Wimbledon (4.5 miles)

Wallington (0.6 miles)

Carshalton (1.3 miles)

Waddon (1.3 miles)

close
What do you think of our website?
Complete our survey and
you could win £1000
Start here