Acquired
London NW8 – Shop & Ground Rent
107 Boundary Road, St John`s Wood, London NW8 0RGFreehold Retail & Residential Ground Rent Investment
Tenure
Freehold
Lease Term
10 Years
Years Left on Lease
1y 4m
Area
1,400 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor shop and 3 flats which have been sold off on long leaseholds
- Second floor flat valuable reversion in 87 years
- Located within 0.4 miles from Kilburn High Road Overground and Kilburn Road Underground stations
- Nearby occupiers include Nail Salon, Taylors and Takeaway Shops, amongst others.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises Ground Floor Retail Shop and 3 Residential Flats (sold-off) arranged over Lower Ground, First and Second floor.
The property provides the following accommodation and dimensions:
Ground Floor: Shop 33 sq m (355 sq ft)
Lower Ground: Flat 63 sq m (678 sq ft)
First Floor: Flat 37 sq m (398 sq ft)
Second Floor: Ancillary Not inspected
The property provides the following accommodation and dimensions:
Ground Floor: Shop 33 sq m (355 sq ft)
Lower Ground: Flat 63 sq m (678 sq ft)
First Floor: Flat 37 sq m (398 sq ft)
Second Floor: Ancillary Not inspected
Tenancy Description
The ground floor shop is at present let to Vali Barbers for a term of 10 years from 11th May 2016 at a current rent of £14,000 per annum and the lease contains full repairing and insuring covenants. No break clause. The lower ground floor flat has been sold on long leasehold for a term of 999 Years from 25th December 1983 at a ground rent of £100 per annum. The first floor flat has been sold on long leasehold for a term of 215 Years from 25th December 1983 at a ground rent of peppercorn. The second floor flat has been sold on long leasehold for a term of 125 Years from 25th December 1983 at a ground rent of £50 per annum. Valuable reversion in 87 Years.
Tenancies & Accommodation
Location Description
St John's Wood is a district in the City of Westminster, North West London, lying about 2.5 miles (4 km) northwest of Charing Cross. Traditionally the northern part of the ancient parish and Metropolitan Borough of Marylebone, it extends east to west from Regent’s Park and Primrose Hill to Edgware Road, with the Swiss Cottage area of Hampstead to the north and Lisson Grove to the south. An affluent district of leafy residential streets, St John's Wood is known for Lord’s Cricket Ground, the headquarters of English cricket and a venue for domestic and international matches. The property is located within 0.4 miles from Kilburn High Road Overground and Kilburn Road Underground stations. Nearby occupiers include Nail Salon, Taylors and Takeaway Shops, amongst others.