Retail premises for sale

Investment Consideration:
Gross Initial Yield: 8.06%
Rental Income: £25,000 p.a.
VAT is not applicable to this property
Comprises triple fronted retail shop with allocated outdoor space at front
Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.

Property Description:
Comprises ground floor corner shop, with allocated outdoor space at front which is suitable for car parking or retail area, providing the following accommodation and dimensions:
Ground Floor: 66 sq m (710 sq ft)
Open plan retail, Storage, Outdoor space

Tenancy:
The property is at present let to Lumi Skin London Ltd t/a Sunbed Shop (with personal guarantee) for a term of 7 Years from 15th December 2023 at a current rent of £25,000 p.a. And the lease contains full repairing and insuring covenants. Rent review on 15.12.2028 linked to rpi. No breaks. Deposit held of £6,250.

Tenure:
Long Leasehold. Held on a 999 year lease from 22nd July 2024 at a ground rent of peppercorn.

Location:
Sidcup is an area of south-east London, England, primarily in the London Borough of Bexley. It is 11.3 miles south-east of Charing Cross, bordering the London Boroughs of Bromley and Greenwich. Sidcup Train Station provides the area with South-eastern services to London Charing Cross, London Cannon Street via Lewisham, Woolwich Arsenal, Dartford and Gravesend. East Rochester Way on the A2 road runs partly through the district, adjoining Blackfen Road. The road provides links to the Blackwall Tunnel and Kent. Situated on an established parade amongst the local shops and amenities of Blackfen Road. Nearby occupiers include Tesco Express, Costa Coffee, Coral Betting and Post Office, amongst number of local traders including estate agent, grocery store and more.