£500,000
(£268.53/sq. ft)
Leisure/hospitality for sale2-4 Leigham Court Road, London SW16
1,862 sq. ft
EPC Rating: E
About this property
7.2% Gross yield, before any purchaser costs
Sale price £500,000 for the benefit of the Long Leasehold
Freehold also available subject to further negotiation
Current Income - £36,000 per annum
Current tenant - Body Fit Training (bft)
Prominent Location - Close to Streatham Hill Station
Head lease/long lease : The virtual-freehold/long leasehold is available (250-years from 2014) at a guide price of £500,000 (ex. VAT). The long leasehold is subject to a Ground Rent of £300 per annum
The Freehold is also available at an additional price - terms on application/subject to further negotiation
The purchase price of £500,000 reflects a Gross Yield of 7.2% before any purchaser costs
tenant details : The premises are let on a Fri lease to a Body Fit Training (“bft”) gym franchisee, who also owns a second bft gym in Battersea, London.
Tenancy details : The property is let on a Fri lease to fhl Streatham Ltd (with a guarantor from fhl Battersea Ltd), for a term of 10-years (held outside The 1954 Act) expiring in August 2035. The lease allows for a tenant-only break option which can be exercised in August 2030
The current rent is £36,000 per annum exclusive, with the next rent review in August 2030 (upwards-only, rpi-index based). A 3-month rent deposit is held as a lease security.
The Tenant benefits from a rent-free period until 11th March 2026.
Location
The premises are situated on Leigham Court Road close to the prominent junction with Streatham High Road (A23)
Streatham Hill offers a high density of residential occupiers as well as national and local retail/office occupiers in close proximity.
Streatham Hill National Rail Station, Marks & Spencer and the London Square Streatham Hill residential development are all within 2 minutes walk
The property is located within the London Borough of Lambeth
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