• Attractive London Retail Investment

• Strong high street position

• Situated in between Costa and Waitrose

• New 10 year lease from February 2017

• Tenant has been trading from this unit for over 30 years

• £440,000, subject to contract

• Net initial yield 6.0%

The property forms part of a building called Sovereign House which is situated in a prominent position on London Road in the centre of Twickenham.

London Road itself provides a range of retail, convenience, food, banking and recreational amenities. The unit is situated in between Costa Coffee and Waitrose so therefore benefits from high levels of pedestrian footfall past the property. Waitrose has a 450 space car park which affords pedestrian access onto London Road via Katharine Road. Other occupiers in the immediate vicinity include Burger King, WH Smith, Caffe Nero, Specsavers and HSBC. Twickenham train station is also within a short walk of the property.

The property for sale comprises a self-contained ground floor retail shop within a new contemporary commercial and residential building. The unit has been fitted out by the tenant to a high standard in its latest corporate image.

The interest for sale is a new long lease for a term of 250 years at a ground rent of £150 per annum rising every 10 years in line with the Retail Price Index (RPI).

The unit is let to Toni and Guy Limited for a term of 10 years from 7th February 2017 expiring on 6th February 2027 at a current passing rent of £27,700 per annum.

The lease benefits from an upwards only rent review on 7th February 2022 and a tenants’ break option on 6th February 2022 subject to 6 months’ prior written notice.

The tenant has been granted a 9 month rent free period from the start of the lease which will be covered by the vendor on completion.

The tenant has been trading from this unit since the building was constructed in 1984 and signed a new lease in February 2017 demonstrating their commitment to the property and the location.

VAT will be payable on the purchase price. However, it is envisaged the transaction will be treated as a Transfer of a Going Concern (TOGC).

Our client is seeking offers in the region of £440,000 (Four Hundred and Forty Thousand Pounds), subject to contract, reflecting a net initial yield of 6.0% (assuming standard purchasing costs of 4.41%).