A rare opportunity to purchase a head leasehold investment until 2031. A profit rent of £ 37,490 p.a subject to increases in 2024 and 2029
The subject property comprises a detached, 1950’s style industrial unit of brick elevations with two-storey offices to the front. To the ground floor there are offices, a male and female WC with a shower, kitchen and storage/warehouse accommodation. The first floor comprises further office accommodation together with a single WC and small kitchenette.
Location
The property is located on an established industrial estate fronting Lyon Road. It is within walking distance of South Wimbledon and Colliers Wood Underground stations (Northern Line) and the Morden Road Tramlink station.
Accommodation
Ground Floor: 2,645 sq. ft. (245.69 sq. m.)
First Floor: 1,107 sq. ft. (94.44 sq. m.)
Total: 3,661 sq. ft. (340.13 sq. m.)
Terms
TENURE - Head Lease held for a term of 63 years from 25/3/1968 expiring on the 24/3/2031. A current ground rent of £5,510 p.a is payable. The lease provides for 21-year rent reviews. No further reviews.
Offers of £225,000 considered SUBJECT TO CONTRACT
SUB LEASE - An FRI sub lease is held for a term of 12 yrs from the 01/02/2019 expiring on the 31/01/203 with 5 yearly upward rent reviews to Falcon Works Ltd. Current rent is £43,000 per annum exclusive. Sub lease Inside the L&T Act 1954 Part 2
VAT - The property is not elected for VAT.
EPC - Band E (121).
RATES - 2023 Listing - Refer to www.voa.gov.uk
LEGAL COSTS - Each party is to bear their own legal costs incurred in this transaction.
Specification
- Self-contained unit
- 4 Car parking space
- Gas fired central heating