Investment Consideration:
Current Rental Income: £157,780 p.a.
Retail Rent Reviews ERV: ~£190,000 p.a.
Residential ERV upon completion: ~156,600 p.a.
Comprises large restaurant and five retail units at ground floor and 15-bedroom residential accommodation on first and second floor, which is currently under construction
VAT is NOT applicable to this property
Situated within 5 min walk to Southall Train and Underground Station
Occupiers nearby including Santander, Superdrug, Lloyds Bank, Holland & Barrett and many more.
Property Description:
The property comprises end-of-terrace mixed use block and consist of large restaurant and five retail units at ground floor with 15-bedroom residential accommodation above suitable to be operated as HMO, guest house, hotel or serviced accommodation. The residential accommodation is currently under construction. The property benefits from rear car park suitable for 3-4 vehicles and provides the following accommodation and dimensions:
Ground Floor:
No. 4-6 Restaurant 213 sq m (2,300 sq ft)
No. 2 Retail Units
Unit 1 Retail Unit t/a Juice and Desert Shop 14 sq m (150 sq ft)
Unit 2 Retail Unit t/a Beauty Salon 16 sq m (172 sq ft)
Unit 3 Retail Unit t/a Takeaway 15 sq m (161 sq ft)
Unit 4 Retail Unit t/a Hair Saloon 19 sq m (204 sq ft)
Unit 5 Retail Unit t/a Bakery 12 sq m (129 sq ft)
First/Second Floor:
No. 2-6 Residential Accommodation 340 sq m (3,668 sq ft)
(under construction)
15 bedrooms, 9 with ensuite and a further 4 Bathrooms, 2 WC basins and a total of 4 kitchens.
Location:
Southall is a large suburban town in West London, England, part of the London Borough of Ealing and is one of its seven major towns. It is situated 10.7 miles (17.2 km) west of Charing Cross and had a population of 69,857 as of 2011. The property is located at the busy junction of The Broadway and South Road within 5 min walk to Southall Train and Underground Station. Occupiers nearby including Santander, Superdrug, Lloyds Bank, Holland & Barrett and many more.
