Retail premises for sale in High Street, London W3

Description

Freehold Investment Opportunity. Excellent opportunity to acquire an income producing, prominent and well located end terraced mixed use building in Acton High Street with return frontage to retail unit on ground floor and first/second floor flat subject to occupational leases.

The ground floor commercial unit has an internal floor area of approximately 50sq.m. And falls within Class E. It is currently occupied by a Cafe and subject to a lease of 15 years commencing 2nd February 2018 with 5 yearly rent reviews. (Rent Review Feb 23 Outstanding) and producing £16,000 per annum.

The first and second floor maisonette is accessed from the rear and is subject to a long leasehold interest to a third party for a term of 99 years from the 25th June 1988 subject to a ground rent of £200p.a. Rising. The lease is therefore reversionary with a current unexpired term of circa 62 years remaining. The lease renewal premium receivable likely to be in excess of £40,000 in our opinion based on the current lease term and valuation methodology.

The building until recently also benefitted from an advertising hoarding to the flank wall which was producing circa £1,500 per annum and could be reinstated subject to negotiations.

A great opportunity to acquire a well located freehold investment asset with scope to implement the outstanding rent review, extend the lease to the maisonette and negotiate a new contract for the advertising hoarding to further improve the rental yield.

Freehold Interest
Rateable Value - £12,250 (Tenant Liability)
Annual Income Currently £16,200p.a reflecting a gross initial yield of 5.7% on the asking price with scope to improve.

Please call Blakes Property Services and Estate Agents on for further information or to arrange a viewing.

The business is unaffected by the proposed sale and interested parties are advised not to make any direct approaches to the tenants in occupation please.

Tenure: Freehold
Freehold interest subject to occupational commercial lease over ground floor premises and long leasehold interest to first/second floor flat.