Investment Consideration:
Gross Initial Yield: 6.46%
Rental Income: £42,000 p.a.
VAT is applicable to this property
Comprises ground floor shop t/a Ryman Stationery
Situated opposite Elmsleigh Shopping Centre with occupiers close by including McDonald`s, Greggs, WH Smith, Caffè Nero and Lloyds, Barclays, HSBC and NatWest banks, amongst others.
Property Description:
Comprises mid-terrace ground floor shop t/a Ryman Stationery. The property benefit from rear access and provides the following accommodation and dimensions:
Ground Floor: 124 sq m (1,335 sq ft)
Open plan retail, storage, wc
Tenure:
Long Leasehold. To be held on a 999 year lease on a term expiring on 25th February 3018 at a ground rent of peppercorn. Circa 993 years remaining on leasehold.
Tenancy:
The property is at present let to Ryman Limited for a term of 10 years from 29th March 2018 at a current rent of £42,000 per annum and the lease contains full repairing and insuring covenants. Fixed rental uplift to £43,000 p.a. in March 2025 and £45,000 p.a. in March 2027. Break clause in 2024 NOT exercised.
Location:
Staines-upon-Thames, with a population of some 18,000, is located on the River Thames within the London commuter belt, some 18 miles west of the city centre and 4 miles south of Heathrow. The town is within the M25 Motorway, close to Junction 13 and the A30. There are regular rail services to London Waterloo (fastest journey time 35 minutes). The property is well located on the north side of High Street, close to its junction with Tillys Lane. The main entrance to the Elmsleigh Shopping Centre is diagonally opposite the property and occupiers close by include McDonald`s, Greggs, WH Smith, Caffè Nero and Lloyds, Barclays, HSBC and NatWest banks, amongst others.
