Block of flats for sale in Clarence Street & 1-8 Tadcaster Court, Richmond TW9
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- Mixed use investment
- Prominent location
- Close to station
Property description
A large corner three storey building comprising four adjacent retail units and eight flats above (not inspected). There is a rear yard area providing some parking, accessed from Clarence Street. All of the flats have been sold on long leases at peppercorn ground rents. The property was probably built in the 1920's.
The shops are let on separate leases with a combined annual income of £97,000 p.a. One shop (No 3) has just become vacant and this figure assumes the agreed letting is completed at £18,000 p.a.
Tenancies;
1-2 Twickenham Rd- 15 year lease from 7 June 2011. £20,000 p.a. 3 yearly upward only Rent Reviews. June 2023 Rent Review not actioned. EPC band F.
3 Twickenham Rd- Currently vacant and under offer at £18,000 p.a. EPC band B.
4-7 Twickebham Rd- 10 year lease from22 March 2021. £45,000 p.a. 5 yearly upward only Rent Review. Tenant only Break Option 22 March 2026. EPC awaited.
7-9 Clarence St- 10 year lease from 3 October 2023. £14,500 p.a. 5 yearly upward only Rent Review. Tenant only Break Option after 5 years at no less than 6 months notice. EPC awaited.
1-8 Tadcaster Court- Each flat sold on 189 year lease from 1984 at peppercorn ground rents.
Please view only by appointment through us and do not disturb the current tenants.
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact
Franklin Commercial, KT10 on +44 20 8115 8551 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Franklin Commercial, and do not constitute property particulars. Please contact Franklin Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.