Freehold Retail and Residential Investment with Asset Management and Development Opportunities
Comprises a Deli/Coffee Shop, a Restaurant, a Charity Shop and three separately accessed 2 bed flats
Opposite Raynes Park Railway Station
Asset management opportunities including break up potential
Pre-application approval to add additional floor for 3 additional flats (circa 2,000 sq ft)
Change of use potential without planning permission (Subject to leases)
Nearby retailers include Waitrose,
Co-operative Food, Greggs, Starbucks, Boots and a number of independent restaurants and pubs
Fashionable and Affluent South-West London Suburb
Lot 6
Auction 23rd September 2020
Rent £122,700 per Annum Exclusive
Status Sold
Price £1,775,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
3 miles east of Kingston upon Thames,
5 miles south-east of Richmond,
8 miles south-west of Central London
Roads
A3, A24, M25
Rail
Raynes Park Rail Station
(21 mins direct to London Waterloo)
Air
London Heathrow Airport,
London Gatwick Airport
Situation
Raynes Park is an affluent south-west London suburb approximately one mile south-west of Wimbledon Town Centre and Wimbledon Common. The property is prominently located on the north side of the busy Coombe Lane, directly opposite Raynes Park Railway Station. Neighbouring retailers Include Waitrose, Co-operative Food, Greggs, Starbucks, Boots and numerous independent restaurants and pubs.
Tenure
Freehold.
Location
Miles
3 miles east of Kingston upon Thames,
5 miles south-east of Richmond,
8 miles south-west of Central London
Roads
A3, A24, M25
Rail
Raynes Park Rail Station
(21 mins direct to London Waterloo)
Air
London Heathrow Airport,
London Gatwick Airport
Situation
Raynes Park is an affluent south-west London suburb approximately one mile south-west of Wimbledon Town Centre and Wimbledon Common. The property is prominently located on the north side of the busy Coombe Lane, directly opposite Raynes Park Railway Station. Neighbouring retailers Include Waitrose, Co-operative Food, Greggs, Starbucks, Boots and numerous independent restaurants and pubs.
Tenure
Freehold.
Description
The property comprises a Deli/Coffee Shop, a Restaurant and a Charity Shop on the ground floor and three separately accessed two bed flats on the first floor. The two flats above the Deli and Restaurant are both within each lease and the flat above the charity shop is separately let.
VAT
VAT is applicable to this lot.
Planning
Pre-application approval has been granted by Merton Council to add a second floor comprising three additional flats - Merton Council -www.merton.gov.uk - planning@merton.gov.uk - 020 8545 3777
Note
Floor Plans for Pre-Application for Rear Extension to Ground & First Floor including the Construction of x3 Residential Units to form a New Second Floor available on request.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises a Deli/Coffee Shop, a Restaurant and a Charity Shop on the ground floor and three separately accessed two bed flats on the first floor. The two flats above the Deli and Restaurant are both within each lease and the flat above the charity shop is separately let.
VAT
VAT is applicable to this lot.
Planning
Pre-application approval has been granted by Merton Council to add a second floor comprising three additional flats - Merton Council -www.merton.gov.uk - planning@merton.gov.uk - 020 8545 3777
Note
Floor Plans for Pre-Application for Rear Extension to Ground & First Floor including the Construction of x3 Residential Units to form a New Second Floor available on request.
Completion Period
Six Week Completion
EPC
See legal pack.
Tenancy & Accommodation
No.
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
46
GroundFirst
Deli/Coffee Shop Residential
82.25 sq m 2 Bedroom Flat
(885 sq ft) .
A. PATEL t/a Raw Deli (Deli/Coffee Shop)
15 years from 28/11/2006
£35,500
48
GroundFirst
Restaurant Residential
102.69 sq m 2 Bedroom Flat
(1,105 sq ft)
A. PATEL t/a The Olive Garden (Italian Restaurant)
15 years from 28/11/2006
£37,000
50
Ground
Retail
72.82 sq m
(784 sq ft)
LITTLE LIVES UK (1) (Charity Shop) LTD
15 years from 15/03/2013 with a rentreview on 15/03/2023
£34,000 (rising to 35,500 on 20/03/2021
50a
First
Residential
2 bedroom flat
TWO INDIVIDUALS
1 year Assured Shorthold Tenancy from 08/04/2020 at 1,350 pcm
£16,200
Total Commercial Area
257.76 sq m
(2,774 sq ft)
£122,700
(1) Little Lives UK are a children's charity, with three shops in Raynes Park, Fulham Broadway and Tooting Broadway (www.littlelives.org.uk).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
