Virtual Freehold Retail Investment
Virtual Freehold Retail Investment
The property is located in the highly affluent and popular southwest London suburb of East Sheen, and is situated in a prominent corner position on the east side of Sheen Lane close to its junction with St Leonards Road. The property benefits from being adjacent to the East Sheen Community Centre and car park. Nearby occupiers include Tesco.
Virtual Freehold. Virtual Freehold. Held for a term of 999 years at a current rent reserved of £350 per annum exclusive. The freehold may be available by separate negotiation.
The property is located in the highly affluent and popular southwest London suburb of East Sheen, and is situated in a prominent corner position on the east side of Sheen Lane close to its junction with St Leonards Road. The property benefits from being adjacent to the East Sheen Community Centre and car park. Nearby occupiers include Tesco.
Virtual Freehold. Virtual Freehold. Held for a term of 999 years at a current rent reserved of £350 per annum exclusive. The freehold may be available by separate negotiation.
The property comprises two self-contained ground floor retail units which form part of a larger building. Unit 48 benefits from a return frontage.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises two self-contained ground floor retail units which form part of a larger building. Unit 48 benefits from a return frontage.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Unit | Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review/(Reversion) | |
|---|---|---|---|---|---|---|---|---|
| 48 | Ground | Retail | 85.40 sq m |
(919 sq ft) |
LESLEY JANICE CAIRNS (t/a Curves Gym) (1) |
7 years from 20/10/2011 |
£18,500 |
20/10/2014 (2) (19/10/2018) |
| 50 | Ground | Retail | 84.20 sq m |
(906 sq ft) |
BIOMORE LLP (t/a Biothecare Estetika) (3) |
10 years from 20/02/2013 (4) | £20,000 (2) |
20/02/2018 (19/02/2023) |
| Totals | 169.60 sq m |
(1,825 sq ft) |
£38,500 | |||||
(1) Curves is the largest fitness franchise in the world with locations in over 90 countries. Curves first opened in 1992 as the first fitness and weight-loss facility designed for women. (Source: www.curves.co.uk 28/02/2014).
(2)The current rent reserved is £15,000 per annum exclusive. The lease provides for the rent to be increased to £20,000 per annum exclusive. The seller will pay the buyer the difference between £15,000 per annum exclusive and £20,000 per annum exclusive from completion of the sale until 20th February 2018.
(3)Biothecare Estetika operate an established franchise with over 170 centres around the world (10 in the UK). Biothecare are now Europe’s largest non-invasive aesthetic clinic specialising in skincare, body treatments, IPL laser hair removal and use cutting-edge aesthetics technology to perform non-invasive treatments. (Source: www.biothecareestetika.com/ 28/02/2014).
(4)As to Unit 50, the lease provides for a tenant option to determine the lease on 20th February 2018.
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