Guide price
£570,000
(£609.63/sq. ft)
Retail premises for saleBarnes High Street, London SW13
935 sq. ft
About this property
Situation & Location
The property is prominently situated on the eastern side of Barnes High Street, immediately between Cook and Savills, close to Café Nero & M&S Food opposite. Barnes High Street is a sought-after neighbourhood centre with a good mix of both independent and multiple operators serving the affluent resident population of Barnes. Please see location plan below
Description & Accommodation
The property comprises a self-contained ground floor shop with rear store providing a main sales area of 577 sq ft 53.6 sq m; a rear ground floor store of 328 sq ft 30.5 sq m and an office of 30 sq ft 2.8 sq m
There is an upper maisonette which has been sold on a long lease
Tenancy
The shop is let to Lea & Sandeman Company Ltd on effectively full repairing and insuring lease for a term of 10 years from 30th May 2020, thus expiring on 29th May 2030, at a current rent of £35,750 per annum. Copy Lease available on request (please note that the lease does not contain provision for a rent review).
Lea & Sandeman Co Ltd is a wholesale and retail wine merchant established for nearly forty years with a turnover in most recent published accounts of £15.4 million and net assets of £3.58 million. The business currently operates from Kensington, Chelsea, Fulham, Chiswick and Barnes
Guide Price £570,000 to give a net initial yield of 6 % after usual purchase costs.
Legal Costs Each party to bear their own Energy Performance Certificate Rating 44 Band B
Investment Case The property is currently under rented with an itza of 495 giving a current Zone A rent of £72 against the current rental tone of some £90 per sq ft za. It thus has considerable reversionary potential upon lease renewal or re-letting in 2030 and meanwhile is well let, sitting within this very affluent and attractive south-west London centre.
VAT The property is VAT opted
The property is prominently situated on the eastern side of Barnes High Street, immediately between Cook and Savills, close to Café Nero & M&S Food opposite. Barnes High Street is a sought-after neighbourhood centre with a good mix of both independent and multiple operators serving the affluent resident population of Barnes. Please see location plan below
Description & Accommodation
The property comprises a self-contained ground floor shop with rear store providing a main sales area of 577 sq ft 53.6 sq m; a rear ground floor store of 328 sq ft 30.5 sq m and an office of 30 sq ft 2.8 sq m
There is an upper maisonette which has been sold on a long lease
Tenancy
The shop is let to Lea & Sandeman Company Ltd on effectively full repairing and insuring lease for a term of 10 years from 30th May 2020, thus expiring on 29th May 2030, at a current rent of £35,750 per annum. Copy Lease available on request (please note that the lease does not contain provision for a rent review).
Lea & Sandeman Co Ltd is a wholesale and retail wine merchant established for nearly forty years with a turnover in most recent published accounts of £15.4 million and net assets of £3.58 million. The business currently operates from Kensington, Chelsea, Fulham, Chiswick and Barnes
Guide Price £570,000 to give a net initial yield of 6 % after usual purchase costs.
Legal Costs Each party to bear their own Energy Performance Certificate Rating 44 Band B
Investment Case The property is currently under rented with an itza of 495 giving a current Zone A rent of £72 against the current rental tone of some £90 per sq ft za. It thus has considerable reversionary potential upon lease renewal or re-letting in 2030 and meanwhile is well let, sitting within this very affluent and attractive south-west London centre.
VAT The property is VAT opted
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Monthly repayment
£2,851 per month
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