Offers in region of
£750,000
(£827.81/sq. ft)
Retail premises for saleYogahub, 48 & 50 Sheen Lane, London SW14
From 906 - 1,825 sq. ft
EPC Rating: E
About this property
Reversionary rents (likely in excess of 7.89% nry in 2029)
Total Passing rent: £52,800 per annum
Erv of £65,000 per annum
Price of £750,000 for long leasehold with shares of freehold
Term certain in excess of 5 years
Return frontage
Both leases contracted outside the lta 1954
The investment comprises two self-contained ground floor retail units which form part of a larger residential building with separate access. Both of the units are let to the owners of Yogahub (a yoga studio business). Unit 50 benefits from a return frontage. The units also benefit from the use of the pavement in front of the units (which forms part of the demised title).
Location
The property is located in the highly affluent neighbourhood of East Sheen and is situated on the east side of Sheen Lane close to its junction with St Leonards Road. The property benefits from being adjacent to the East Sheen Community Centre and car park.
Viewings
Viewings by arrangement through the joint sole Agents.
Terms
Long leaseholds (plus share of freehold) offered for sale by way of private treaty, subject to contract. Can be bought individually or as a single lot.
Tenancies
Both units are let on full repairing and insuring leases (effective by way of service charge) expiring on 20 April 2032, at an annual rent of £24,600. There is an upwards only rent review on 21 April 2029. Both leases are contracted outside the 1954 Act.
Proposal
We are instructed to seek £375,000 for the long leasehold of each unit (£750,000 in total), which equates to a net initial yield of 6.86% and a potential net reversionary yield of 7.89% in 2029 (after purchasers costs of 2.72% (sdlt and Solicitor's fees).
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