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Retail premises for sale
1,627 sq. ft*
Freehold property for sale
Mixed-use and income producing
Commercial unit and residential flat fully let
5.66 giy on an overall basis
Location: The subject property occupies a prime corner position on the busy Uxbridge Road (A4020) at its junction with Arminger Road. Shepherd’s bush is a vibrant district in West London and is identified as a major metropolitan centre in the London Plan. Its high-street location provides a strong footfall which is further increased by its locality the world-famous Westfield Shopping Centre, Shepherd’s Bush Market and the O2 Shepherd’s Bush Empire. Uxbridge Road serves a wealth of independent and national restaurants and shops including Costa Coffee, Tesco Express and Co-op. The premises is well-served by existing public transport routes, including Shepherd’s Bush Market Underground (Circle and Hammersmith & City Lines) (0.3 miles, 5-minute walk) and White City Underground (Central Lines) (0.6 miles, 12-minute walk). Numerous busses also pass outside the property.
Description: The property is built with traditional brick elevations and comprises a mixed-use building arranged over three storeys. It is end of terrace and includes an income-producing commercial unit with a return frontage on ground and basement levels which is currently let to a laundrette. The self-contained residential accommodation is arranged over the second floor and is let on an Assured Shorthold Tenancy. It is accessed via the side of the property on Arminger Road. The first floor flat has been sold off on a long lease.
Commercial Accommodation: FloorNet Internal Floor Area (approx.)Ground 705 sq. Ft. (65.49 sq. M.)Basement 470 sq. Ft. (43.66 sq. M.)Total1,175 sq. Ft. (109.15 sq. M.) Residential Accommodation: FloorGross Internal Floor Area (approx.)Second452 sq. Ft. (42.00 sq. M.) Total452 sq. Ft. (42.00 sq. M.) Tenancies: The ground and basement commercial premises are leased to Veeroy Laundry Solutions for a term of 15 years from 24th November 2011, expiring on and including 23rd November 2026. We understand during the 2021 rent review the following stepped rent was agreed:
£20,750 per annum exclusive from 24th November 2021 to 24th November 2022, £22,750 per annum exclusive from 24th November 2022 to 24th November 2023, £24,750 per annum exclusive from 24th November 2023 to 24th November 2024 and £25,500 per annum exclusive in the subsequent years. The rental income averages to £23,850 per annum over the next 5 years.
The first floor flat has been sold off on a long lease of 125 years commencing 1st December 1984 with 87 years remaining. The second floor flat is let subject to an Assured Shorthold Tenancy at £1,200 pcm and £14,400 annually. The contractual term is from 1st May 2022, expiring 30th April 2023.
User: We believe the premises fall under Sui Generis (Laundrette) and C3 Residential Dwellings of The Town & Country Planning (Use Classes) (Amendment) (England) Regulations 2020.
Local Council: London Borough of Hammersmith & Fulham.
EPC: The property has EPC rating of B (39). A copy of the EPC is available upon request.
Legal Fees: Each party to bear its own legal costs.
Tenure: Freehold, subject to the existing tenancies.
Price: Offers invited in the region of £675,000 (six hundred and seventy-five thousand pounds).
VAT: Not applicable.
Aml: In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from any successful Purchaser.
Viewings: By appointment only via landlord’s sole agent: Willmotts Chartered Surveyors.
For more information about this property, please contact Willmotts, W6 on +44 20 3641 3338 * (local rate)
Contact Willmotts about this property
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