Acquired
London KT17 – Hair Salon & Residential Ground Rent
221 Fir Tree Road, Epsom, London KT17 3LBFreehold Retail & Residential Ground Rent Investment
Tenure
Freehold
Lease Term
12 Years
Years Left on Lease
5m
Area
627 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises double fronted ground floor shop with 2 residential flats above (sold-off)
- Property benefits from 3 parking spaces at front
- Occupiers nearby include Londis supermarket, barbers and restaurant/takeaway`s, amongst other retailers.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises double fronted ground floor shop t/a hair salon and 2 residential flats (sold-off) at first and second floor. The property benefits from 3 parking spaces at front which are allocated to the retail shop. The rear garden areas are in ownership of the residential flats above.
The property provides the following accommodation and dimensions:
Ground Floor: Shop 58.25 sq m (627 sq ft)
Open plan retail area, rear storage, WC
First Floor: Flat 221A (sold-off)
Second Floor: Flat 221B (sold-off)
The property provides the following accommodation and dimensions:
Ground Floor: Shop 58.25 sq m (627 sq ft)
Open plan retail area, rear storage, WC
First Floor: Flat 221A (sold-off)
Second Floor: Flat 221B (sold-off)
Tenancy Description
The ground floor shop and 3 parking spaces at front are at present let to an Individual for a term of 12 years from 13th May 2013 at a current rent of £12,500 per annum and the lease contains full repairing and insuring covenants. Deposit held of £2,637.33 Flat 221a has been sold on long leasehold for a term of 99 Years from 25th August 2016 at a ground rent of £150 p.a. Rent doubles every 25 years. Flat 221b has been sold on long leasehold for a term of 99 Years from 24th April 1980 at a ground rent of £50 p.a.
Tenancies & Accommodation
Location Description
Epsom is an affluent market town located approximately 16 miles south-west of central London and 4 miles north-east of Junction 9 of the M25 Motorway. The property is located in predominantly residential area within 2 miles from Epsom Town Centre and 1 mile from Banstead Town Centre. Occupiers nearby include Londis supermarket, barbers and restaurant/takeaway`s, amongst other retailers.
