Freehold Retail & Residential Investment in Affluent Greater London Suburb
Freehold Retail & Residential Investment in Affluent Greater London Suburb
Cheam is an affluent London commuter suburb located 6 miles west of Croydon, 3 miles north east of Epsom and 12 miles south west of Central London. The property is situated in North Cheam in a prominent location on London Road (A24), near its junction with Cheam Common Road/Malden Road (A2043). Nearby occupiers include Sainsbury`s, McDonalds, Costa, Pizza Hut, Greggs and a variety of local retailers.
Freehold.
Cheam is an affluent London commuter suburb located 6 miles west of Croydon, 3 miles north east of Epsom and 12 miles south west of Central London. The property is situated in North Cheam in a prominent location on London Road (A24), near its junction with Cheam Common Road/Malden Road (A2043). Nearby occupiers include Sainsbury`s, McDonalds, Costa, Pizza Hut, Greggs and a variety of local retailers.
Freehold.
The property comprises a ground floor shop with a large 3 bedroom recently refurbished maisonette above on the first & second floors. The maisonette is accessed separately from the rear.
VAT is not applicable to this lot.
Six Week Completion
See legal pack at www.acuitus.co.uk
The property comprises a ground floor shop with a large 3 bedroom recently refurbished maisonette above on the first & second floors. The maisonette is accessed separately from the rear.
VAT is not applicable to this lot.
Six Week Completion
See legal pack at www.acuitus.co.uk
| Floor | Use | Floor Areas (Approx) |
Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground | Retail | 47.06 sq m |
(506 sq ft) |
C X CAO and A P CAO (t/a New York Nails) (2) | 15 years from 25/06/2021 |
£16,000 (1) | 25/06/2026 & 25/06/2031 |
| First & Second | Residential | 3 Bedrooms |
INDIVIDUAL | 1 year AST from 13/04/2019 at £925 pcm |
£11,100 | ||
| Total Commercial |
47.06 sq m |
(506 sq ft) plus a 3 bed maisonette |
£27,100 (1) | ||||
(1) The lease is subject to fixed rental increases over the first five years of the term, commencing at £10,000 pa for year 1 and rising to £16,000 pa by year 5. The Vendor has agreed to adjust the completion monies, so that the property effectively produces £16,000 pa from completion of the sale until the fixed rental increase at the commencement of year 5-please see Special Conditions of Sale.
(2) The tenant has been in occupation since 2008 & a rent deposit of £6,250 is held.
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.
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