Block of flats for sale in Clarence Street & 1-8 Tadcaster Court, Richmond TW9

Freehold Investment for sale- Guide Price £1,450,000.

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.