Retail premises for sale in High Street Wimbledon, London SW19

Location:
Wimbledon Village is a prestigious South West London suburb well known for not only its sporting connections, but also its affluent residential population and fashionable retailers. The area benefits from excellent transport links being served by Wimbledon Broadway Station (National & District Lines), numerous bus connections and cycle routes plus excellent road links with the A3 situated nearby providing direct access both into Central London and to the South West.

Located in a prominent position in the middle of the High Street the property benefits from excellent visibility and passing trade; the village continues to be a sought-after location for retailers and residential occupiers alike. Nearby businesses include The Ivy, Bayley & Sage, Jigsaw, Joseph, Starbucks, Strada, Boulangerie Paul, Farrow & Ball, Sweaty Betty, Space nk, and range of other independent restaurants and retailers.

Tenancies & income:
In occupation since 2016, the Tenant, Empanadas Tucumanus Ltd, has recently renewed their Lease for a term of ten years from July 2023 at a passing rent of £36,000 per annum. A deposit equal to four months’ rent is held. The passing rent equates to approximately £127 psf itza and, although recently agreed, it is our opinion that this is below the current open market rent and therefore represents an excellent opportunity to actively manage the investment in the future to provide an improved yield. Recent comparable evidence can be made available to interested parties however they are advised to make their own investigations.

Trading since 2010, Empanadas Tucumanus Ltd operates from five premises within London as well operating a large catering operation together with various stalls, fairs and farmers markets. Accounts are available on request.

The apartment above is occupied by way of a long lease for 125 years from 1995 at a ground rent of £50.00 pa.

Commercial income: £36,000 pa
Residential Ground Rent: £50 pa
total: £36,050 pa

description & areas:
The property provides a boutique retail unit with additional storage and retail space in the basement with residential uppers. The unit extends to the following approximate floor areas:

Ground Floor 322 sq ft
Basement 280 sq ft
Residential Uppers: Sold off

EPC:
The property benefits from an EPC rating of “C” and is valid until 2033.