325 Stanstead Rd 356 sq ft Retail Property London SE6 4UE £235,000 (£660.11/sq ft) 6.13% Net Initial Yield

Investment Consideration:
Gross Initial Yield: 6.13%
Rental Income: £14,400 p.a.
In same ownership for 10+ years
VAT is NOT applicable to this property
Comprises ground floor retail shop t/a Nail Salon
Let until July 2039. No breaks. Rent review in 2029.
Occupiers nearby include Café, Takeaway`s, Convenience Store and many more.
Property Description:
Comprises mid-terrace ground floor shop t/a Nail Salon. The property provides the following accommodation and dimensions:
Ground Floor: 31 sq m (334 sq ft)
Open plan retail, storage, kitchen, wc
Tenancy:
The property is at present let to an Individual for a term of 20 years from 10th July 2019 at a current rent of £14,400 per annum and the lease contains full repairing and insuring covenants. Rent review (open market) on 10.07.2029 and every 4 years thereafter. No breaks.
Tenure:
Long leasehold. Held on a 999 Year lease from 1st January 2012 at a ground rent of peppercorn.
Location:
The property is located on the west side of Stanstead Road (A205). Local shops and amenities can be found to the west of the property on Stanstead Road with the more extensive facilities of Catford Broadway situated approximately 0.5 miles to the north-east. Rail services run into Central London from Catford and Catford Bridge Rail Stations. The A205 (South Circular Road) and the A21 are situated close by as are the open spaces of Blythe Hill Fields and Ladywell Fields. Occupiers nearby include Café, Takeaway`s, Convenience Store and many more.