Freehold Investment with a mixed use planning consent and a current rental income of £8,840 pa.
The site is located on the southern side of Holly Road, a one way street which links London Road with Copthall Gardens. The site is behind King Street which is one of the prime retail streets in Twickenham.
Currently, the property comprises a pre-cast sectional garage workshop on a site which extends to about 1,200 sq ft.
The property is let on a lease outside the Landlord and Tenant Act for a term expiring on 12 October 2021 at a rent of £8,840 pa with review 12 October 2018. There is a mutual break in October 2018 provided six months is given. After the third year, October 2018, there is a mutual rolling break provided 7 months’ notice is given.
Section 106 Agreement
There is an Affordable Housing Contribution of £9,761 and a Council Payment of £1,000 in the event of redevelopment of the site in accordance with the planning consent.
Planning Consent has been granted by The London Borough of Richmond upon Thames to provide 1 no. ground floor B1a commercial unit and, 1 no. 2 bedroom flat on the first floor. Full information can be provided on request. The planning reference number is (16/3625/FUL)
Basis of Offers
Offers are invited for the freehold interest in excess of £275,000
Strictly through sole agents
Davis Brown for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchasers, or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Davis Brown or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property; (iv) all rentals and prices quoted are exclusive of VAT (if chargeable)
SUBJECT TO CONTRACT