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Agent's details

8 Hill Rise, Richmond - Freehold Commercial Investment For Sale

For sale: £895,000.00|1,237 Sq Ft|Retail, Leisure, Retail - High Street, Office, Offices

Property details

FOR SALE£895,000.00
SIZE1,237 Sq Ft
ADDRESS8 Hill Rise Richmond TW10 6UA
TYPERetail, Leisure, Retail - High Street, Office, Offices
TENUREInvestment Opportunity
POSTED ON1st January 2024

Description

Investment Summary

• Located in the highly affluent London Borough of Richmond upon Thames.
• Ground and first floor commercial building close to Richmond Riverside.
• Fully let to Fairmont Law Solicitors.
• Total income of £45,000 per annum.
• Freehold.
• Offers sought in the region of £895,000 (Eight Hundred and Ninety-Five Thousand Pounds), Subject to contract.

Location

Richmond is one of the most desirable locations in London to live, work and shop. This highly affluent London Borough is located approximately 8 miles to the east of Central London.

Transport links are excellent, Richmond station provides London Underground (District Line), Overground, and National Rail services (fastest journey time to London Waterloo – 19 mins). Both the M3 and M4 motorways are easily accessible and Heathrow Airport is only 12 miles to the west.

Richmond is an established commercial centre, with a host of national and international retailers, numerous bars and restaurants as well as an excellent leisure offering.

Situation

The property is situated on the southeast side of Petersham Road close to its junction with
Bridge Street and Hill Street, being close to within Richmond town centre. This
part of Petersham Road is part of an established commercial area for Richmond. The property is
within a conservation area CA5.

Description

The accommodation comprises of the entire ground floor and first floor. The unit benefits from two toilets, small outdoor terrace, and great natural lighting. The building will be left as a shell allowing an incoming tenant flexibility with fit out.

The building has been totally refurbished and fitted out by the existing tenant.

Accommodation

The property provides the following approximate floor areas.

FLOOR SQ M SQ FT
Ground 77.3 832
First floor 37.6 405
Total 114.9 1,237

Tenancy

The ground and first floor are let to Marjan Nezarati-Zadeh, trading as Fairmont Law Solicitors who hold an effective full repairing and insuring 15-year lease, subject to 5 yearly upward only rent reviews from 5th September 2023 at £45,000 per annum exclusive. The tenancy is not protected by The Landlord and Tenant Act 1954.

There is a 3-month rental deposit and a personal guarantee to be provided by Marjan Nezarati.

Tenure

Freehold.

VAT

The property is not elected for VAT.

Proposal

We are instructed to seek offers in the region of £895,000 (Eight Hundred and Ninety-Five Thousand Pounds)

Legal Costs:

Each party to bear their own legal costs.

Location

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Location: 8 Hill Rise Richmond TW10 6UA

Richmond (0.4 miles)

Kew Gardens (1.5 miles)

Hounslow East (2.5 miles)

Richmond (0.4 miles)

St Margarets (0.7 miles)

St Margarets (Gr London) (0.7 miles)

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