DESCRIPTION
The property comprises a two storey mid terrace building with a prominent retail unit on the ground floor and a self-contained 2-bedroom flat on the first floor with a dedicated entrance from Apple Market.
Ground Floor Retail - Class E use
The ground floor has been trading as a successful jewellery business for a considerable number of years. Our client is prepared to accept a leaseback based on a new 10 year FRI 10 year lease subject to one upward only rent review and a tenant only option to determine the lease at the 5th anniversary of a new term.
First Floor Flat (2 bedrooms)
A superbly furnished first floor flat comprising a large reception room, fully fitted kitchen, two bedrooms with en suite bathroom / WC, shower room. The flat is let on a 1 year Assured Holding Tenancy for £2,000 per calendar month.
INVESTMENT SUMMARY
Greater London self-contained retail and residential opportunity located in Kingston town centre.
Ground floor occupied by a longstanding jewellery business available on a new FRI lease at £50,000 per annum.
Ground floor provides a Class E use suitable for a wide range of uses.
High quality, refurbished 2-bedroom first floor flat let on a 12 month AST for £2,000 per calendar month.
Potential overall rental income of £74,000 per annum exclusive.
Freehold.
We are advised that the property is not elected for VAT.
Offers are invited in excess of £1,350,000 (One Million Three Hundred and Fifty Thousand Pounds), subject to contract.
EPC
Retail (14) - E (105)
Flat (14A) - D (65)
TERMS
Offers are invited in excess of £1,350,000 (One Million Three Hundred and Fifty Thousand Pounds, subject to contract.
RATES
2023/24
RV £30,000 / RP £14,970 per annum
Council Tax Band D - £2,122.07
VAT
We are advised that the property is not elected for VAT.
ACCOMMODATION
| Floor |
Size |
Price/Rent |
Rates Payable |
| Ground Floor Retail |
930 sq ft - 86 sq m |
|
|
| First Floor Residential |
500 sq ft - 46 sq m |
|
|
| Total |
1,430 sq ft
(133 sq m) |
|
|
LOCATION
The property is prominently located within the pedestrianised Apple Market in the bustling town centre of Kingston adjoining the historic Market Place and Eden Walk shopping centre, linking up with the main retail thoroughfare of Clarence Street, leading to John Lewis, The Bentall Centre and M&S. Nearby occupiers include Boots, Next, Lush and NatWest, all within 50 metres of the property. Also within 100 metres of the new Unilever HQ development, currently under construction with an envisaged workforce of 2,500.