Under Offer
East Molesey – Shop and Flat
122/176 Walton Road, East Molesey, Surrey KT8 0HPFreehold Shop and Residential Investment
Price
£575,000
Rent P.A.
£30,000
Yield
5.22%
Tenure
Freehold
Lease Term
24 Years
Years Left on Lease
11y 2m
Area
1,341 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises a ground floor shop with a self contained maisonette on the first and second floor
- Entirely let on a lease expiring in 2036 (no breaks)
- Located in an affluent South-West London suburb
- Nearby occupiers include Tesco Metro, Subway and Poundland, amongst many others.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises a ground floor shop and self-contained maisonette on first and second floor.
The property provides the following accommodation and dimensions:
Ground Floor: Shop - 55.55 sq m (598 sq ft)
First/Second Floor: Maisonette - 69.00 sq m (743 sq ft)
3 Rooms, Kitchen and Bathroom
The property provides the following accommodation and dimensions:
Ground Floor: Shop - 55.55 sq m (598 sq ft)
First/Second Floor: Maisonette - 69.00 sq m (743 sq ft)
3 Rooms, Kitchen and Bathroom
Tenancy Description
The entire property is at present let to B.Burns t/a Hair Salon for a term of 24 years from 10th March 2012 at a current rent of £27,000 per annum and the lease contains full repairing and insuring covenants. No break clause. Fixed increase to £30,000 p.a. in 2021. The vendor will top up the rent so that the buyer receives the equivalent of £30,000 from completion.
Tenancies & Accommodation
Location Description
East Molesey is an affluent commuter town located some 14 miles south-west of Central London between Kingston and Walton-on-Thames in Surrey. The town is located south of the A308 which links to the M3 (Junction 1) and M25 (Junction 12). Hampton Court Rail Station provides regular services to London Waterloo (fastest journey time 37 minutes). Occupiers close by include Tesco Metro, Poundland, Princess Alice Hospice and Subway, amongst many others.
