High Street, New Malden £495,000
Fully let freehold investment situated in a prime High Street position. This mid terraced A2 retail unit is arranged over ground and 1st floor levels and is let entirely to William Hill Organisation Limited on a 15 year lease from 03.09.2010 at a current passing rent of £23,500 pa. The property is located on the east side of New Malden High Street directly opposite McDonalds and approximately 300 metres from New Malden train station with other nearby occupiers including Boots Opticians, Waitrose, Tesco, Costa Coffee, Specsavers Opticians and a number of High Street banks. There is an outstanding rent review from 03.09.2015 currently under negotiation and a break clause in September 2020. In our opinion, the property may offer some development potential to extend to the rear and/or obtain alternative uses such as residential at 1st floor level subject to vacant possession and the necessary planning permissions.
- SECURE RETAIL INVESTMENT OPPORTUNITY
- PASSING RENT: £23,500 PA
- LEASE EXPIRY IN 2025
- PRIME HIGH STREET PITCH
- LET TO WILLIAM HILL
- REVERSIONARY & DEVELOPMENT POTENTIAL STPP
- FREEHOLD FOR SALE
- 1,248 SQ. FT. (116 SQ. M) APPROX.
New Malden KT3 4ET
Sale Type: Sold STC