Gross Initial Yield: 5.71%
Rental Income: £24,000 p.a.
VAT is not applicable to this property
Located in a prime central location within Cheam Village
Comprising a ground floor shop with offices at the rear including WC and kitchenette
Retail frontage benefits from large ground floor windows on all sides
Studio accommodation on the first floor and cellar/storage at basement level
The ground floor extension was carried out in 1996. According to the Vendor, the extension footings were built deep enough for a first-floor extension to be built
Ground Floor, Basement and First Floor total area size of 93.64 sq m (1,008 sq ft)
5-minute walk from Cheam Train Station
Occupiers nearby include Waitrose, Café Nero, Sainsburys, Tesco, amongst many more local traders.
The property is arranged as a ground floor shop with offices at the rear including WC and kitchenette (A1 usage). There is a cellar below and a studio accommodation on the first floor with separate kitchen and shower room. The property is located within a conservation area of Cheam Village and property's status is Listed.
The property provides the following accommodation and dimensions:
Window Display - 5.05m x 1.17m
Sales Area - 14 sq m (151 sq ft)
Store - 7.92 sq m (85 sq ft)
Rear Store/Kitchen - 17.29 sq m (186 sq ft)
Office - 8.00 sq m (86 sq ft)
Cellar/Storage - 7.99 sq m (86 sq ft)
Rear Courtyard - 17.00 sq m (180 sq ft)
First Floor Accommodation:
Living Room/Bedroom - 14.24 sq m (153 sq ft)
Kitchen - 4.00 sq m (43 sq ft)
Shower Room - 4.26 sq m (46 sq ft)
The property is at present let to Beauthetics By Naina Ltd t/a Hair Salon with a personal guarantee from the Director for a term of 6 years and 11 months from 27th September 2021 at a current rent of £24,000 per annum and the lease contains full repairing and insuring covenants. The tenant has right to determine lease in the 5th year with 6 months notice. Rent review every 3rd year linked to rpi. Rent deposit held of £6,000.
Cheam is an area in the west of the London Borough of Sutton, within Greater London. Cheam is 10.9 miles (17.5 km) southwest of Charing Cross. It is divided into two main areas, North Cheam and Cheam Village, both of which are centred on retail districts. Cheam is bordered by Worcester Park to the north-west, Morden to the north-east, Sutton to the east, Ewell to the west and Banstead and Belmont to the south. Cheam Village is centred on the crossroads between Sutton, North Cheam, South Cheam and Ewell. As well as bus services, it is served by Cheam mainline station which is in London Travelcard Zone 5 and one stop from Sutton, about 1 mile (1.6 km) away, and two from Epsom, about 3 miles (4.8 km) away. Services from Cheam to central London include direct trains to Victoria which take about 30 minutes. The property is located in a prime central location within 5-minute walk from Cheam Train Station. Occupiers nearby include Waitrose, Sainsburys` and Tesco, amongst many more local traders.