£250,000
(£413.22/sq. ft)
Restaurant for saleStreatham Road, Mitcham CR4
605 sq. ft
About this property
Investment Consideration:
Gross Initial Yield: 7.68%
Rental Income: £19,200 p.a.
VAT is not applicable to this property
Comprises mid-terrace ground floor takeaway shop
Situated on the well-connected A216 (Streatham Road), within close proximity to multiple bus routes and Tooting Broadway Underground Station. Nearby occupiers including Tesco Express, a Post Office, a barber shop, a public house, and various independent businesses.
Property Description:
Comprises ground floor takeaway, providing the following accommodation and dimensions:
Ground Floor: 56.19 sq m (605 sq ft)
Open plan seating, counter, kitchen, storage, wc
Tenancy:
The property is at present let to an Individual t/a Takeaway from 23rd May 2024 until 7th January 2036 at a current rent of £19,200 p.a. And the lease contains full repairing and insuring covenants. Rent review on 8th January 2028 and 2032 open market upward only. No breaks.
Tenure:
Virtual Freehold. To be held on a new 999-year lease from completion at a ground rent of peppercorn.
Location:
Mitcham is a suburban district in the London Borough of Merton, situated approximately 8 miles south of Central London. The area benefits from excellent road links via the A217 and A236, providing access to the A3 and South Circular. Mitcham Junction station offers National Rail and Tramlink services, connecting to Central London and Croydon. The property is located on Streatham Road (A216), a busy arterial route connecting Mitcham with Streatham and Tooting. The surrounding area comprises a mix of local independent retailers, convenience stores, and residential developments. Nearby occupiers include Tesco Express, Costcutter, and a number of cafés, pharmacies, and retailers.
Gross Initial Yield: 7.68%
Rental Income: £19,200 p.a.
VAT is not applicable to this property
Comprises mid-terrace ground floor takeaway shop
Situated on the well-connected A216 (Streatham Road), within close proximity to multiple bus routes and Tooting Broadway Underground Station. Nearby occupiers including Tesco Express, a Post Office, a barber shop, a public house, and various independent businesses.
Property Description:
Comprises ground floor takeaway, providing the following accommodation and dimensions:
Ground Floor: 56.19 sq m (605 sq ft)
Open plan seating, counter, kitchen, storage, wc
Tenancy:
The property is at present let to an Individual t/a Takeaway from 23rd May 2024 until 7th January 2036 at a current rent of £19,200 p.a. And the lease contains full repairing and insuring covenants. Rent review on 8th January 2028 and 2032 open market upward only. No breaks.
Tenure:
Virtual Freehold. To be held on a new 999-year lease from completion at a ground rent of peppercorn.
Location:
Mitcham is a suburban district in the London Borough of Merton, situated approximately 8 miles south of Central London. The area benefits from excellent road links via the A217 and A236, providing access to the A3 and South Circular. Mitcham Junction station offers National Rail and Tramlink services, connecting to Central London and Croydon. The property is located on Streatham Road (A216), a busy arterial route connecting Mitcham with Streatham and Tooting. The surrounding area comprises a mix of local independent retailers, convenience stores, and residential developments. Nearby occupiers include Tesco Express, Costcutter, and a number of cafés, pharmacies, and retailers.
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