English 
Arabic 
Chinese 
French 
German 
Hebrew 
Spanish 
Accommodation
The property provides the following accommodation:
| Address | Sq M | Sq Ft |
| 192 Martin Way | 45.99 | 495 |
| 194 Martin Way | 48.59 | 523 |
| 196 Martin Way | 52.49 | 565 |
| 198-202 Martin Way (“sold off”) | 328.51 | 3,536 |
Ratable Value
According to the Valuation Office website the rateable value for the property is as follows:
| Address | Description | Rateable Value |
| 192 Martin Way | Cafe & Premises | £8,300 |
| 194 Martin Way | Shop & Premises | £6,600 |
| 196 Martin Way | Shop & Premises | £7,000 |
The business rates multiplier is 49.9 pence.
Tenure
Virtual Freehold (999 year lease from 26th May 2016 at a peppercorn rent).
198–202 Martin Way (t/a Sainsburys) and the residential upper parts have been “sold off” on long leases expiring in May 3015 (989 years unexpired).
Tenancy
The property is multi-let, producing a total passing rent of £40,500 per annum.
192 Martin Way
Let to Kugan Vageesan (t/a New Favriite Chicken) for a term of 15 years from 25th June 2018, expiring on 24th June 2033. The current passing rent is £11,000 per annum. A rent deposit of £6,600 is held by the Landlord.
194 Martin Way
Let to Erhan Karapinar (t/a Ero’s Barbers) for a term of 10 years from 20th January 2025, expiring on 19th January 2035. The current passing rent is £14,500 per annum. The lease includes a break option and rent review on 20th January 2030. A rent deposit of £3,975 is held by the Landlord.
The tenant has been in occupation since 2016 and signed a new lease in January 2025, demonstrating their commitment to this location.
196 Martin Way
Let to Sophia Soltani, guaranteed by Sarhad Soltani (t/a Brown’s Glass & Glazing), for a term of 15 years from 16th June 2017, expiring on 15th June 2032. The current passing rent is £14,000 per annum and the lease benefits from five yearly RPI-linked rent reviews, the next being on 16th June 2027. A rent deposit of £4,200 is held by the Landlord.
The tenant has a right to use one car parking space at the rear of the property.
Advertising Unit
Let to Primesight Ltd for a term of 2 years from 8th March 2016, and thereafter from year to year until either party gives the other six months written notice to determine the Agreement. The passing rent is £1,000 per annum.
198–202 Martin Way
Sold off on a long lease to K Z Holdings Ltd (t/a Sainsburys) for a term of 999 years from 2nd April 2020, expiring on 16th May 3015 at a peppercorn rent.
1st Floor, 192-202 Martin Way
Sold off on a long lease to Roseshire Properties Limited for a term of 999 years from 26th May 2016, expiring on 25th May 3015 at a peppercorn rent.
All rental payments are up to date with no arrears. A payment history is provided in the data room.
EPC Ratings
| 192 Martin Way | D | Valid until October 2031 |
| 194 Martin Way | C | Valid until April 2033 |
| 196 Martin Way | B | Valid until April 2033 |
| 198–202 Martin Way | B | Valid until May 2033 |
VAT
The property is VAT elected. It is anticipated (subject to the purchaser’s VAT status) that the sale will be treated as a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek a figure of £390,000 (Three Hundred and Ninety Thousand Pounds), subject to contract, reflecting a Net Initial Yield of 10%.
Please note that a purchaser will be re-charged the costs of the searches (£1,585.84 incl. VAT) 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.
Investment Considerations
An opportunity to purchase a multi-let retail investment;
The property is located within a London borough;
Prominently located within a densely populated residential area;
Fully let and income producing;
Attractive net initial yield;
Attractive lot size for an investor.
