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116-138 Tolworth Broa 1,485 sq ft Retail Unit Offered at £720,000 in Surbiton KT6 7HT
INVESTMENT HIGHLIGHTS
- Surbiton is a suburban neighbourhood of south-western Greater London, within the Royal Borough of Kingston upon Thames
- Surbiton is served by a number of regular bus services.
- It is situated next to the River Thames, 11 miles (18 km) southwest of Charing Cross.
EXECUTIVE SUMMARY
Surbiton is a suburban neighbourhood of south-western Greater London, within the Royal Borough of Kingston upon Thames. It is situated next to the River Thames, 11 miles (18 km) southwest of Charing Cross. Surbiton is served by a number of regular bus services. Transport for London bus routes 71, 281, 406, 41, 465,K1, K2, K3, and K4. Railways have served the town since it was founded. Surbiton and Berrylands stations are both served by South Western Railway services. It provides rail links to London Waterloo, Surrey and Hampshire. The property is located within short walk to Tolworth train station and opposite M&S Foodhall with nearby occupiers including Domino`s Pizza and Poundland, amongst others.
PROPERTY FACTS
| Total Property Size | 15,378 sq ft | Floors | 3 |
| Property Type | Retail (Unit) | Typical Floor Size | 15,378 sq ft |
| Property Subtype | Shopfront Retail / Residential | Year Built | 1950 |
| Costar Property Class | B | Total Plot Size | 0.26 ac |
| Total Property Size | 15,378 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Residential |
| Costar Property Class | B |
| Floors | 3 |
| Typical Floor Size | 15,378 sq ft |
| Year Built | 1950 |
| Total Plot Size | 0.26 ac |
AMENITIES
- Security System
- Storage Space
- Air Conditioning
- Smoke Detector
1 UNIT AVAILABLE
Unit 128/128a
| Unit Size | 1,485 sq ft | Sale Type | Investment |
| Price | £720,000 | Tenure | Freehold |
| Price Per sq ft | £484.85 | Net Initial Yield | 7.01% |
| Unit Use | Retail | NOI | £50,475 |
| Unit Size | 1,485 sq ft |
| Price | £720,000 |
| Price Per sq ft | £484.85 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 7.01% |
| NOI | £50,475 |
DESCRIPTION
Comprises ground floor shop and 3-bedroom maisonette at first and second floor
SALE NOTES
Investment Consideration:
- Purchase Price: £750,000
- Gross Initial Yield: 7.01%
- Rental Income: £50,500 p.a.
- VAT is NOT applicable to this property
- Retail shop let until 2039. No breaks. Rent review every 5 years linked to RPI.
- Comprises ground floor shop and 3-bedroom maisonette at first and second floor
- Property benefits from vehicular access at rear and 2 car parking spaces
-Situated within short walk to Tolworth train station and opposite M&S Foodhall, with nearby occupiers including Domino`s Pizza and Poundland, amongst others.
Tenancy:
The ground floor shop is at present let to an Individual (with guarantor) for a term of 15 years from 11th October 2024 at a current rent of £17,500 per annum and the lease contains full repairing and insuring covenants. Rent review every fifth year open market upward only. No break clause. Deposit held of £8,750 (6 months).
The first and second floor maisonette is let to Omnia Housing Ltd on a Guaranteed Rent Agreement for a term of 5 Years from 9 August 2021 at current rent of £33,000 per annum. Deposit held of £2,750.
128 Tolworth Broadway, Surbiton, Surrey, KT6 7HT 1
128 Tolworth Broadway, Surbiton, Surrey, KT6 7HT 2
128 Tolworth Broadway, Surbiton, Surrey, KT6 7HT 3
128 Tolworth Broadway, Surbiton, Surrey, KT6 7HT 4
NEARBY MAJOR RETAILERS
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116-138 Tolworth Broa
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