FREEHOLD INVESTMENT FOR SALE 161 Battersea Park Road, London, SW8 4BU
LOCATION The property is situated on Battersea Park Road within a secondary parade of shops close to the junction with Lockington Road. This is a busy road with a large residential catchment surrounding.
ACCOMMODATION We have not undertaken on site measurement but understand that the net internal area of the ground and basement restaurant is approximately 1,250 sq. ft. (116 sq. m).
Battersea Park Station is a short walk from the subject property and numerous bus routes run along Battersea Park Road.
PROPOSED SALE The commercial is let to The Power Station on a 20year lease due to expire in May 2027 and the current passing rental is £45,000 per annum exclusive. The lease is subject to 4 yearly upwards only rent reviews, with the next review being due in May 2020. The lease is outside the Landlord & Tenant Act 1954.
DESCRIPTION Comprises a character four storey building with basement providing bar/restaurant on ground and basement and residential on the upper three floors. The ground floor and basement trade as a bar restaurant called The Power Station. The ground floor has seating for 40 covers and benefits from wood flooring, wall lights, disabled WC and some outside seating. The basement comprises cooking area and storage with ceramic floor and two WCs. The upper parts comprise a one bed flat on the first floor and a two bed maisonette on 2nd and 3rd floors which are sold off on long leases. The first floor flat is let for a term of 99 years from 29th September 1985 with approximately 68 years remaining. There is a ground rent payable of £50 per year for 1st 33 years rising to £100 per annum for next 33 years and £150 per annum of remaining 33 years. The maisonette has a long lease to September 2174. We understand that the ground rent is £50 per annum currently and will rise to £100 per annum after 33 years and £150 per annum for the remainder of the term.
SALE PRICE Only £790,000 for the freehold interest, subject to the existing lease on the ground and basement shops and the upper residential units being sold off. LEGAL COSTS Each party to bear their own legal costs in this transaction. VIEWING By appointment via sole agents - Currell Commercial Ltd Jon Morell – 020 7096 2785
[email protected] Will Beresford – 020 7096 2780
[email protected] Beverley Hedge – 020 7704 7514
[email protected] Ref: COM170139 For more information on our properties please visit our website – www.currell.com/commercial
Important Notice: 1. These particulars are prepared for guidance purposes only. They are intended to give a fair overall description of the property but are not intended to constitute any part of an offer or contract. 2. Nothing in these particulars shall be deemed to be a statement that the property is in good structural condition or otherwise nor that any services, equipment or facilities are in good working order. 3. Whilst all information contained in these particulars whether in the text, plans or photographs is given in good faith, intending purchases must make their own enquiries as to the accuracy of all matters upon which they intend to rely. 4. Value Added Tax - All rents, premiums, prices or other financial arrangements and charges stated are exclusive of Value Added Tax. Currell Commercial Ltd. Registered in England No 3905752. Registered Office: 9 Bonhill Street, London EC2A 4DJ