986 Garratt Lane TOOTING BROADWAY LONDON
50 – 56 Tooting High Street & 984 – 986 Garratt Lane TOOTING BROADWAY ■ LONDON ■ SW17 0RN Unique South London freehold site comprising a mixed use substantially reversionary investment with considerable development potential computer generated image 50 – 56 Tooting High Street ■ 984 – 986 Garratt Lane ■ Tooting Broadway ■ London ■ SW17 0RN 02 Garratt Lane Tooting Market Tooting High Street Garratt Terrace SUBJECT PROPERTY to St George’s University Hospital Tooting Broadway Underground Station A24 Mitcham Road 50 – 56 Tooting High Street ■ 984 – 986 Garratt Lane ■ Tooting Broadway ■ London ■ SW17 0RN 03 • Rare opportunity to purchase a unique and prominent freehold development site in the heart of one of South London’s most popular areas which is expected to see further growth as a result of Crossrail 2. • Situated directly opposite Tooting Broadway station, in a prime retail pitch. • Let to the undoubted covenant of HSBC, Halifax, JD Wetherspoons and the NHS with a INVESTMENT SUMMARY INVESTMENT diversified income stream. • Current total rental income of £580,850 per annum including rental guarantees. • Substantial rental reversion with excellent rental growth prospects. • Opportunity to reposition the property through redevelopment with an increased height and density, potentially for retail, leisure, residential, hotel or student housing uses, subject to the usual consents. Offers are sought in excess of £17,000,000 (Seventeen Million Pounds) subject to contract and exclusive of VAT, giving a net initial yield of 3.20% and a reversionary yield of 4.57% after allowing for standard acquisition costs of 6.74%. 50 – 56 Tooting High Street ■ 984 – 986 Garratt Lane ■ Tooting Broadway ■ London ■ SW17 0RN 04 Located in Tooting, within the affluent Borough of Wandsworth in south Transport links are excellent, with the property situated west London, the property benefits from a prime location, situated immediately opposite Tooting Broadway underground station immediately opposite Tooting Broadway Station in the heart of the (Northern Line).
[Show full text]