London Retail & Residential Investment Freehold London Retail & Residential Investment
FREEHOLD LONDON RETAIL & RESIDENTIAL INVESTMENT FREEHOLD LONDON RETAIL & RESIDENTIAL INVESTMENT
INVESTMENT SUMMARY
* Mixed Use Retail and Residential Investment.
* Central London Zone 2 Location.
* Densely populated and Improving Area.
* Low Rental Levels.
* Price - Offers in Excess of £515,000.
* 6% + Yield.
* VAT Free.
196/200 COLDHARBOUR LANE - LONDON SE5 9QH LOCATION The property is located on the vibrant Coldharbour Lane forming part of the rejuvenated Brixton area, which is continuing to improve through wide scale regeneration.
It forms part of an extensive parade of shops, occupying a prominent corner location at the junction with Flaxman Road, adjacent to Loughborough Junction Overground Station. Nearby occupiers include Costcutter and Nisa Local, as well as numerous local traders and restaurants serving the surrounding densely populated residential catchment area. The Co-op have recently opened a new Convenience store directly opposite to further improve the retail facilities.
Communications are excellent being on the main A217 linking Camberwell with Brixton with numerous bus services to the surrounding area, and rail services from Loughborough Junction direct to London Victoria, and also via Thameslink through London St Pancras International. Denmark Hill and Brixton Overground stations are also nearby as is Brixton Underground (Victoria Line).
DESCRIPTION An end of terrace mixed use commercial and residential period building comprising three shop units arranged on ground floor and basement with 3 self- contained flats above having a separate access from Flaxman Road which have been sold off on long leases.
TENURE Freehold.
2 196/200 COLDHARBOUR LANE - LONDON SE5 9QH TENANCIES
ADDRESS TENANT AREAS sq ft LEASE RENT REVIEW EXPIRY COMMENTS
196 N Chambers GF 410 5 years from 31/08/2011 £ 10,000 30/08/2016 3 month rent deposit . Rent paid Cycle Shop B 354 monthly 198 C Zambara GF 422 10 years from 01/04/2013 £ 10,000 01/04/2018 31/03/2023 Outside L&T Act. Rent paid Grocers B 406 monthly 200 B Smith GF 1,084 10 years from 14/02/2014 £ 12,500 14/02/2019 13/02/2024 Tenant break February 2019. Beauty Salon B 354 Flat 1 Ollard & Musawi Residential £ 0 28/09/2172
Flat 2 M Abamba Residential £ 30 28/09/2082 66 years unexpired.
Flat 3 K King Residential £ 30 28/09/2082 66 years unexpired.
TOTAL £32,560 pa
INCOME £32,560 per annum ASSET MANAGEMENT * Opportunity to improve tenant mix. * Upcoming reviews and lease expiries giving the opportunity to improve rental levels. * 2 of the flat leases are short, offering the chance to sell lease extensions.
RENTAL VALUE The existing rental levels are extremely low offering potential for future growth. The letting to the Co-op would indicate the rents are all reversionary and there are a number of other lettings in the vicinity. Further details on request.
3 196/200 COLDHARBOUR LANE - LONDON SE5 9QH PRICE Offers in excess of £515,000 to give a net initial yield of 6% after purchasers costs of 4.8%.
EPC’s EPC’s available upon request.
VAT The property is not registered for VAT.
For further information please contact either:
CONTACTS
Bill Stephens Simon Gregory t: 020 7518 1527 t: 020 7518 1528 e: [email protected] e: [email protected]
17 WOODSTOCK STREET MAYFAIR LONDON W1C 2AJ 020 7493 4242
SUBJECT TO CONTRACT APRIL 2016
Reid Rose Gregory (and their subsidiaries and their Joint Agents where applicable) for themselves and for the vendors or lessors of this property for whom they act, give notice that: (i) the particulars are a general outline only, for the guidance prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract. (ii) Reid Rose Gregory cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. (iii) no employee of Reid Rose Gregory has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. (iv) rents quoted in these particulars may be subject to VAT in addition. (v) Reid Rose Gregory will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars, and (vi) the reference to any plant, machinery, equipment, services, fixtures or fittings at the property
4 196/200 COLDHARBOUR LANE - LONDON SE5 9QH