Available
London SW1 – Retail Shop
26 Strutton Ground, Westminster SW1P 2HRLong Leasehold Retail Investment
Price
£450,000
Rent P.A.
£24,500
Yield
5.44%
Tenure
Leasehold
Lease Term
20 Years
Years Left on Lease
14y 8m
Area
398 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Let until 2039. No breaks. Rent review every 5 years.
- Comprises ground floor shop t/a food retailer
- Tenant paid a premium of £25,000 for the lease
- Central London location within walking distance to Big Ben and Victoria train station
- Situated on pedestrianised Strutton Ground, with occupiers nearby including Greggs, Costcutter and Star Pharmacy, amongst other retailers.
Key Features
Tenure
Leasehold
VAT
VAT is Applicable
Property Description
The property comprises ground floor retail shop and provides the following accommodation and dimensions:
Ground Floor: 37 sq m (398 sq ft)
Open plan retail, Storage, WC
Ground Floor: 37 sq m (398 sq ft)
Open plan retail, Storage, WC
Tenancy Description
The property is at present let to Individuals for a term of 20 years from 8th August 2019 at a current rent of £24,500 per annum and the lease contains full repairing and insuring covenants. Upwards only, open market rent review every 5th year. No breaks. Tenant paid premium of £22,000 for the lease.
Tenure:
Long Leasehold. Held on a 200 year lease from 24th June 2008 at a ground rent of £250 p.a. Reversion 2208.
Tenure:
Long Leasehold. Held on a 200 year lease from 24th June 2008 at a ground rent of £250 p.a. Reversion 2208.
Tenancies & Accommodation
Location Description
Strutton Ground Market is a small street market held on weekdays near Victoria, London. The market is located on a narrow cobbled street - Strutton Ground - between Victoria Street and Greycoat Place/Great Peter Street. This market is one of the most centrally located street markets in London, being close to the Palace of Westminster and Victoria railway station. The property is located on pedestrianised Strutton Ground with occupiers nearby including Greggs, Costcutter and Star Pharmacy, amongst others.