Property Information
Address:
Walton Road, East Molesey
, KT8
Price: Property no longer available.
Size: 1060 sq ft98 sqm
Primary Category: Shop
All Categories:
Shop,
Property Ref/Movehut: MH501405
Property Ref/Agent: Walton Road, East Molesey, KT8
*Please use the agent ref when calling the agent directly.
Property description
This retail investment opportunity is situated on a prime high street position close to a number of national multiples including Tesco?s and Subway. The ground floor retail premises are let to a private individual on a 10 year lease from 9th September 2015 at a passing rent of ?17,500 per annum and are currently trading as a carpet store. Internally, the property is arranged over ground floor to have large open plan sales area to the front, with ancillary stores, offices, kitchenette and W/C to the rear and is in a recently refurnished condition throughout. A three month rent deposit (?4,375) is held as security and there is an upward only rent review at the expiry of the 5th year of the term. This opportunity is available by way of a new 999 yearlong leasehold interest at an asking price of ?250,000, which reflects a 7% Gross Initial return.
RETAIL INVESTMENT OPPORTUNITY
PASSING RENT ?17,500 PER ANNUM
LONG UNEXPIRED LEASE TERM OF CIRCA 10 YEARS
PROMINENT HIGH STREET LOCATION
RECENTLY REFURBISHED
TOTAL: 1,060 SQ FT (100 SQ M) APPROX.
7% GROSS INITIAL YIELD
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