Whole Building - Freehold Imvestment

Amenities

• FREEHOLD - INVESTMENT
• Rare opportunity – Central Chiswick
• RETAIL: Let to Octavia Housing
• BUSINESS NOT AFFECTED
• Reported turnover 2022-23 £57.2m
• RESIDENTIAL: Ground rent income only
• Redeveloped in 2018
• Same ownership for over 30 years
• Current INCOME: £60,500 p.a.x.
• Retail - Reversionary value in 2026

Description

RETAIL (occupied): Ground floor retail premises with Class E Use, LET to Octavia Housing trading as Octavia Foundation since 2017 (business not affected). Gross Internal Area: 1,030 sq. ft. | ITZA: 555 sq. ft..
Rental income currently: £60,000 p.a.x.

RESIDENTIAL (sold): Two self-contained 1 bedroom residential dwellings, redeveloped in 2018, arranged over the upper floors (No.294a). Accessed from the rear elevation via communal gate from Holly Road, with external staircase and shared courtyard. Total Ground Rent income: £500 p.a..

Location:
Prime central retail location on the north side of Chiswick High Road (A315) in this busy parade between Clifton Gardens (west) and Fishers Lane (east). Directly opposite Zizzi, Market Place - location of the monthly Markets and the former Chiswick Police Station soon to undergo a major redevelopment by Birchgrove. To the rear, Chiswick Health Centre is under development by Hounslow to deliver a new state of the art medical facility and community health hub. Retailers represented close by include 3 Store, Gail’s, Ole & Steen, Oliver Bonas, Mountain Warehouse and Chipotle. Centrally positioned between Turnham Green and Chiswick Park (district line) TfL stations. Well served by bus public transport and ‘Pay by Phone’ parking nearby.

FREEHOLD INVESTMENT - Subject to subsisting leases.

RETAIL: Let to Octavia Housing (IP13991R) on a Full Repairing & Insuring Lease, for a term of 5 years from June 2021 (exp. 2026), held inside the security provisions of the Landlord & Tenant 1954 Act. Passing rent: £60,000 p.a.x.

RESIDENTIAL: Flat 1 & Flat 2 (SOLD) held on long leaseholds for a term of 125 years from January 2019, each subject to an annual Ground Rent of £250.

Building Insurance and service charge items reimbursed to the Freeholder by fair proportion between the three units.

SALES PRICE: Offers in the region of £975,000 + VAT.

LEGAL COSTS: Each party responsible for its own legal costs. However, the purchaser to provide an undertaking of £5,000.