GROUND FLOOR A1/A3 RESTAURANT INVESTMENT
FREEHOLD FOR SALE
- Investment for Sale subject to the existing tenancies
- Ground rent income from six flats and rear office.
Winsdale House, 30-32 Westow Street, London, SE19 3AH
The property is situated on the west wide of Westow Street close to its junction with Westow Hill (A214). Westow Street forms part of the Crystal Palace Triangle and is in the centre of the business and retail area of Crystal Palace.
Various bus routes operate closely and Crystal Palace Railway Station is approximately half a mile distant from the property.
Winsdale House is a three storey brick built semi-detached property comprising a ground floor retail unit with separate office accommodation to the rear and self contained residential accommodation to the upper floors.
THE APPROXIMATE NET INTERNAL AREAS ARE AS FOLLOWS
82.4 sq m
887 sq ft
94.2 sq m
127 sq ft
109.90 sq m
1,014 sq ft
The ground floor is let to Four Quarters Food Limited on an effective full repairing and insuring lease for a term of 10 years from 5th March 2015 at headline rent of £40,000 per annum. There is a rent concession to the current Tenant meaning the passing rent up until 5th March 2018 is £37,000 pa rising to £38,000 until the 5th March 2019 and then £40,000 until 5th March 2020.
The upper parts comprise six flats, sold off on long leases currently producing the following ground rents:
Flat 1 £350 pa
Flat 2 £350 pa
Flat 3 £450 pa
Flat 4 £350 pa
Flat 5 £150 pa
Flat 6 £450 pa
Total £2,100 pa
The above have RPI increases in 2031 and then every 15 years.
The ground floor rear office has been sold off on a long lease producing a current ground rent of £350 per annum.
Offers are sought in excess of £600,000 for the freehold interest with the benefit of the existing tenancies. Subject to Contract (plus VAT if applicable).
According to the Government website the property has a Rateable Value of £27,500 The UBR for 2017/8 is 46.6p in the £.
Each party to be responsible for their own legal costs.
Energy Performance Certificate:
Full information available upon request.
For further information, or to arrange an inspection please contact Joint Sole Agents Gildersleve & Payne Tel 020 8686 4400
Nick Payne MRICS
or David Sutton BA (Hons)
Property Misdescriptions Act 1991
Please note the agents have not carried out a survey, have not made planning enquiries nor tested any of the equipment, apparatus, fixtures, fittings, services or land and are therefore not able to verify their condition, or suitability for their purpose
Code of Practice
Applicants should be aware that the code of practice on commercial leases in England and Wales strongly recommends you seek professional advice from a qualified Surveyor, Solicitor or Licenced Conveyencer before agreeing or signing a Business Tenancy Agreement. The Code is available through professional institutions and trade associations or through the website www.leasingbusinesspremises.co.uk