Vause Cribb Chartered Surveyors

RETAIL INVESTMENT FOR SALE - 248 UPPER TOOTING ROAD

For Sale Offers in excess of £ 500,000

Address: 248 Upper Tooting Road, Tooting, SW17 7EX

Terms: Available on completion of the necessary Legal formalities.

Available: On completion of the necessary Legal formalities

Use Class: A1/A2/A3/D1

Location:

Situated in a prominent corner position on Upper Tooting Road, the property provides a prime retail position in the heart of this thriving and busy neighbourhood. Occupiers in immediate vicinity of the subject property include, TK MAXX, BetFred, Santander, Lidl, Tooting Covered Market and a range of other local and national retailers, cafes and restaurants.

Accommodation:

Forming a large ground floor corner shop with rear ancillary storage, office and basement, the subject property presents a rarely available opportunity to acquire a securely let diverse commercial investment property in the locality, with potential future long term development potential.

The property is currently occupied by way an FRI Lease on the Ground Floor front expiring January 3rd 2022 at a passing rent of £29,500 per annum exclusive. The Tenant, Sequence (UK) Limited trades as a well-established Nationwide estate agency firm offering a range of services. Details can be found at www.sequencehome.co.uk. Further details and accounts are available on request. The rear office is occupied by an individual by way of five year lease, expiring 25th January 2022 at a passing rent of £7,800. The tenant also occupies the rear parking space. The residential uppers are sold by way of two Long Leases, terms to be confirmed, at a peppercorn rent.

 

                Total Rents Received:                    £37,300