The property has been measured by BKR Floor Plans and provides the following net initial floor areas:
|Zone A||403 sq ft||37.44 sq m|
|Zone B||194 sq ft||18.02 sq m|
|Zone C||140 sq ft||13.01 sq m|
|Ground Floor ITZA||535 UNITS|
|Total Ground Floor||737 sq ft||68.47 sq m|
|Lower Ground||278 sq ft||25.83 sq m|
|Total Net Internal Area||1,015 sq ft||94.29 sq m|
|Total Gross Internal Area||1,168 sq ft||108.51 sq m|
A set of floor plans is available to download and the measured survey report will be re-addressed to a purchaser at a cost of £490 + VAT.
999-year long leasehold, from completion of this transaction and at a peppercorn rent.
The property is let to Savills (UK) Limited on a full repairing and insuring lease for a term of 10 years from 15th August 2022, expiring 14th August 2032. There is a tenant only break clause on 14th August 2027, subject to 6 months written notice.
The passing rent is £29,000 per annum which, based on our analysis, equates a Zone A rate of £54 per square foot.
Therefore, there are 9.5 years unexpired and 4.5 years to the break.
Savills (UK) Limited is part of Savills Plc, a real estate advisor established in 1855 and employing over 39,000 people in over 70 countries.
Savills provides real estate service in all asset classes and is recognised as one of the largest and well-known real estate advisors globally.
The Wandsworth branch has been trading since 1996 with it’s focus being on the local residential market.
Savills (UK) Limited (Co. No.02605138) has reported the following figures:
|31 December 2021||31 December 2020||31 December 2019|
The property has not been registered for VAT and therefore VAT is not applicable on the purchase price.
We are instructed to seek a figure of £465,000 (Four Hundred and Sixty Five Thousand Pounds), subject to contract, reflecting a net initial yield of 6%, assuming standard purchaser’s costs of 4.54%.
Please note that a purchaser will be re-charged the costs of the measured survey (£490 + VAT) and search validation insurance (£86), which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT.
An opportunity to acquire a property in one of London’s most affluent boroughs;
Highly prominent return frontage within ideal location for an estate agency;
Savills recently renewed their lease for a further 10 years (subject to a 5 year break);
Savills first opened their doors in Wandsworth in 1996 and the Wandsworth team have over 100 years of combined experience;
There is an upwards only rent review in August 2027;
VAT Free Investment
Highly Secure income to Savills (UK) Ltd who reported net assets of £152 million
Opportunity to acquire a property in an appreciating area;
Attractive lot size to an investor;
Attractive yield for a London asset.