179-181 Stafford Road 2 Retail Properties Offered at £1,500,000 in Wallington

Investment Consideration:
Gross Initial Yield: 7.59%
Rental Income: £113,860 p.a.
VAT is NOT applicable to this property
Comprises 2 x Ground Floor Shops, 1 x 1-Bed Flat and 8 x Studio Flats situated at rear of the property
Total area size of 313 sq m (3,307 sq ft)
Development potential for additional studio flat at the rear, subject to obtaining the necessary consents
Located within 0.7 miles from Wallington Train station, which provides direct service to central London in 30 min.
Nearby occupiers include pharmacy, convenience store, restaurant/takeaway`s, café and others.
Property Description:
Comprises 2 x Retail Shops, 1 x 1-Bedroom Flat and 8 x Self-Contained Studios, arranged over ground, first and second floor providing the following accommodation and dimensions:
No.179
Ground Floor:
Retail Shop 35.20 sq m (379 sq ft)
Studio Flat C 22.66 sq m (244 sq ft)
Studio Flat D 22.85 sq m (246 sq ft)
Studio Flat E 16.00 sq m (172 sq ft)
Studio Flat F 24.43 sq m (263 sq ft)
First Floor:
1-Bed Flat A 42.36 sq m (456 sq ft)
Second Floor:
Studio Flat B 32.23 sq m (347 sq ft)
No.181
Ground Floor:
Retail Shop 47.75 sq m (514 sq ft)
First Floor:
Studio Flat 1 27.74 sq m (234 sq ft)
Studio Flat 2 17.75 sq m (191 sq ft)
Second Floor:
Studio Flat 2 24.25 sq m (261 sq ft
Tenancy:
No. 179 Stafford Road
The shop is at present let to an Individual for a term of 10 Years from 24th October 2022 at a current rent of £13,000 per annum and the lease contains full repairing and insuring covenants. Upward only rent review every 5th years. No breaks. Deposit held of £3,250.
Flat A is at present let on Periodic Tenancy at a current rent of £10,800 per annum. Deposit held of £850.
Studio B is at present let on Periodic Tenancy at a current rent of £9,540 per annum. Deposit held of £725.
Studio C is at present let on Periodic Tenancy at a current rent of £9,300 per annum. Deposit held of £750.
Studio D is at present let on Periodic Tenancy at a current rent of £9,000 per annum. Deposit held of £650.
Studio E is at present let on Periodic Tenancy at a current rent of £9,000 per annum. Deposit held of £625.
Studio F is at present let on Periodic Tenancy at a current rent of £9,600 per annum. Deposit held of £775.
No. 181 Stafford Road
The shop is at present let to an Individual for a term of 10 Years from 27th August 2025 at a current rent of £15,000 p.a. and the lease contains full repairing and insuring covenants. Upward only rent review every 5th year. Tenant option to determine in the 5th year with minimum 6 months notice. Deposit held of £3,750.
Studio 1 is at present let on Periodic Tenancy at a current rent of £10,020 per annum. Deposit held of £800.
Studio 2 is at present let on Periodic Tenancy at a current rent of £9,600 per annum. Deposit held of £800.
Studio 3 is at present let on Periodic Tenancy at a current rent of £9,000 per annum. Deposit held of £535.
Location:
Wallington is a town in the London Borough of Sutton, in South London, England. It is 9.7 miles south south-west of Charing Cross. Services operate from Wallington to Victoria and London Bridge via West Croydon and to Epsom Downs and Epsom via Sutton and beyond. The property is located 0.7 mile from Wallington train station, which provides direct service to central London in 30 minutes. Occupiers nearby include pharmacy, convenience store, restaurant/ takeaway`s, café and others.