Ground floor let to Individuals t/a Adornments Boutique
Reversionary lease to be signed extending the lease for an additional 5 years
Popular and affluent South West London suburb
Close to Putney High Street and Putney Railway Station
Lot 8
Auction 14th February 2018
Rent £18,700 per Annum Exclusive
Status Sold
Price £281,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
4.5 miles south-west of Central London
1 mile north of Wimbledon Common
Roads
Upper Richmond Road
(South Circular Road A205), A3
Rail
Putney Railway Station (Approx 15 mins to London Waterloo)
East Putney Underground Station (District Line)
Air
London Heathrow Airport
Situation
Putney is a popular and affluent South West London riverside suburb. The area benefits from being immediately south of the River Thames and close to Putney Heath, Wimbledon Common and Richmond Park. The property is prominently situated on the south side of Lower Richmond Road (South Circular Road A205), an arterial route between Wandsworth and Richmond. Putney High Street and Putney Railway Station are also just a short distance away.
Tenure
Freehold.
Location
Miles
4.5 miles south-west of Central London
1 mile north of Wimbledon Common
Roads
Upper Richmond Road
(South Circular Road A205), A3
Rail
Putney Railway Station (Approx 15 mins to London Waterloo)
East Putney Underground Station (District Line)
Air
London Heathrow Airport
Situation
Putney is a popular and affluent South West London riverside suburb. The area benefits from being immediately south of the River Thames and close to Putney Heath, Wimbledon Common and Richmond Park. The property is prominently situated on the south side of Lower Richmond Road (South Circular Road A205), an arterial route between Wandsworth and Richmond. Putney High Street and Putney Railway Station are also just a short distance away.
Tenure
Freehold.
Description
The property comprises boutique ground floor retail accommodation with self-contained residential accommodation on the lower ground, first, second and third floors which have been let on long leases.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises boutique ground floor retail accommodation with self-contained residential accommodation on the lower ground, first, second and third floors which have been let on long leases.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground
Retail/ Ancillary
37.06 sq m
(399 sq ft)
INDIVIDUALS t/a Adornments Boutique
20 years from 14/06/2003 (1)
£18,000 (1)
(14/05/2023) (1)
Lower Ground
Residential
Not measured
INDIVIDUAL (2)
189 years from 29/09/1996
£250
Rising to £700 on 29/09/2021, £1,400 on 29/09/2046 & £2,800 on 29/09/2071
First Second & Third
Residential
Not measured
INDIVIDUAL (2)
125 years from 30/05/1989
£450
Rising to £900 on 30/05/2039 , £1,800 on 30/05/2064 and £3,600 on 30/05/2089
Total Commercial Area
37.06 sq m
(399 sq ft)
£18,700
(1) The tenant occupies the property under a lease for a term of 15 years from 14/06/2003 at a current rent reserved of £18,000 p.a.x. A reversionary lease is due to be signed imminently extending the term for an additional 5 years from 15/05/2018 at a rent of £18,000 p.a.x. (2) The Seller has served a notice on the residential tenants, pursuant to Section 5B of the Landlord and Tenant Act 1987.
