Retail premises for sale

Dawes Road, London SW6

Investment Consideration:
Gross Initial Yield: 6.15%
Rental Income: £40,000 p.a.
VAT is not applicable to this property
Let to a successful retailer with 7 branches across London & South-East
Comprises two retail shops at ground floor t/a Plumbing & Heating Merchants
Includes 3 residential flats at first and second floor, which have been sold-off on long leaseholds
The property is well connected, with Parsons Green (District Line), Fulham Broadway (District Line) and Barons Court (Piccadilly, Circle and District Lines) stations all located within approximately a 15-minute walk.

Property Description:
Comprises two retail shops at ground floor t/a Plumbing & Heating Merchants. The property includes 3 residential flats at first and second floor, which have been sold-off on long leaseholds, The ground floor provides an open-plan retail/trade counter area with ancillary storage to the rear and a small basement accessed internally via Unit 1. The premises benefit from a full-width glazed frontage and excellent visibility onto Dawes Road, providing the following accommodation and dimensions:
Ground Floor: 177.45 sq m (1,910 sq ft)
Open plan retail, storage, kitchen, wc
Basement: 7.45 sq m (80 sq ft)
First/Second Floor: 3 Residential Flats (sold-off)
Total Retail NIA: 184.90 (1,990 sq ft)

Tenancy:
The ground floor retail premises are at present let to Tucker French Limited* for a term of 10 Years from 19th December 2022 at a current rent of £40,000 p.a. And the lease contains full repairing and insuring covenants. Rent review on 19.12.27 open market upward only. Tenant option to determine on 19.12.27.
*Tucker French Limited, a well-established plumbing and heating merchant with 7 branches across London and the South-East. They have been based in Fulham for over two decades, previously occupying the neighbouring building before taking an assignment of the lease for 1–2 Royal Parade from Group B Limited to accommodate their need for additional space.
Flats 1,2,3 have been sold-off on long leaseholds for a term of 999 Years from 29th October 2004 at a ground rent of peppercorn.

Location:
Fulham is a densely populated, affluent and fashionable South-West London suburb bordered by the Thames to the south, Chelsea to the east and Earls Court and Hammersmith to the north. Fulham benefits from good road communications via the A4 to the north, and Wandsworth Bridge Road (A217) and Putney Bridge (A219) provide access to the A3 to the south. The property is located towards the northern end of Dawes Road, within a popular and established retail parade. The property is well connected, with Parsons Green (District Line), Fulham Broadway (District Line) and Barons Court (Piccadilly, Circle and District Lines) stations all located within approximately a 15-minute walk. Numerous local bus services also operate along Dawes Road, providing excellent connectivity throughout Fulham and into Central London.