Freehold A1 & D2 Investment For Sale, Fulham, SW6
Two adjoining shops on single long tenancy. Outstanding Rent Review-VAT free.
345-347 North End Road, Fulham, London, SW6
Situation & Location
The property is situated on the the eastern side of North End Road to the south of the junction with Lillie Road. North End Road is a vibrant London shopping street serving the densely populated residential area of Fulham with an active street market, as well as a mix of independent and multiple retailers. The road is the focus of an ambitious improvement programme by the local authority, supported by developers, including such initiatives as special pedestrianised market days (see photo above). The Post Office and Co‐op supermarket are opposite, Superdrug just to the north. View location map.
Description & Accommodation
The property comprises two adjoining mid‐terraced freehold shops with upper parts. The upper parts each comprise a single maisonette sold on a long lease, the two ground floor and basement shops are not incorporated but are let on a single tenancy. The shops are being used by the current occupier as a mixed use mini‐mall, subdivided to provide a number units, occupied by sub‐tenants/licensees with uses including nails; jewellery; hair & beauty;mobile repair; with café to the rear of each unit and a gym/fitness D2 user in each basement. Floor plans on request. Overall the shops have the following dimensions and floor areas:‐
| 345 North End Road | ||
| GF NIA | 824 sq ft | 76.6 sq m |
| GF ITZA | 546 | |
| Basement NIA | 818 sq ft | 76.0 sq m |
| 347 North End Road | ||
| GF NIA | 886 sq ft | 82.3 sq m |
| GF ITZA | 580 | |
| Basement NIA | 794 sq ft | 73.8 sq m |
Tenure
Freehold.
Tenancy
The shop and basement is let to Mr Ali Sakhainy t/a Shopping Palace on a full repairing and insuring basis (split structure), for term of 20 years from 20.05.15.
Rent
Shops currently producing £52,000 per annum, subject to upward only review with effect from May 2020 and five yearly thereafter, plus ground rent of £100 per maisonette, giving total currrent income of £52,200.
Price
Guide price of £825,000 to reflect an initial yield of 6% after deducting standard purchase costs.
Upper Parts Leases
199 years from 1990 (345a); 999 years from 1990 (347a).
Energy Performance Certificate
Rating 67 – Band C.
Legal Costs
Each party to bear their own.
VAT
The property is not VAT opted.
Contact
Jeremy Barnard
Tel: 020 7938 3990
Fax: 020 7937 3764
Email: jb@jmwbarnard.com
Important Notice: Measurements are approximate and no responsibility is taken for any error, omission or mis-statement in these particulars which do not constitute an offer or contract. No representation or warranty is given either during negotiations, in particulars, or elsewhere. Unless otherwise stated all rents and prices are exclusive of VAT, where applicable.
