Acquired
London SW10 – Tailor Shop
176A Ifield Road, Earl's Court, London SW10 9AFVirtual Freehold Retail Investment
Tenure
Leasehold
Lease Term
20 Years
Years Left on Lease
Holding Over
Area
322 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Victorian mid-terrace ground floor shop
- Tenant in occupation since 1993
- Asset management opportunity, shop is under rented
- Prime location close to Fulham Broadway, Imperial Wharf and West Brompton stations
- Nearby occupiers include Tesco, Costa Coffee, Starbucks, Firezza and more.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor retail premises, currently operating as tailor shop, providing the following accommodation and dimensions:
Ground Floor: Tailors 30 sq m (322 sq ft)
Ground Floor: Tailors 30 sq m (322 sq ft)
Tenancy Description
The property is at present let to an Individual* for a term of 20 years from 29th September 1993 (Holding Over) at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants. Current rent below market value. Lease inside Landlord & Tenant Act 1954. *Note – Individual lease assignment from JMV Holdings.
Tenure:
Leasehold. Held on a 999 year lease from March 2014 at a ground rent of £150 per annum. Rent increases to £300 p.a. in 2042, £500 p.a. in 2067, £750 p.a. in 2092 and £1,000 thereafter during the residue of the term.
Tenure:
Leasehold. Held on a 999 year lease from March 2014 at a ground rent of £150 per annum. Rent increases to £300 p.a. in 2042, £500 p.a. in 2067, £750 p.a. in 2092 and £1,000 thereafter during the residue of the term.
Tenancies & Accommodation
Location Description
Earls Court is a district in the Royal Borough of Kensington and Chelsea in London. The property is located on predominantly residential street, within walking distance to West Brompton Tube Station and nearby occupiers including Tesco, Costa Coffee, Starbucks, Firezza and more.
