A Freehold Part Reversionary Ground Rent Investment secured upon Two Buildings arranged to provide a Total of Six Self-Contained Flats (Two Bedroom Accommodation)
• Together with a Parade of Fourteen Lock-Up Garages
• Garages and Forecourt Area extending to Approximately 0.056 Hectares (0.138 Acres)
• Garages mainly Let subject to Monthly Agreements
• Possible potential for Redevelopment of Garage Parade and Forecourt Area, subject to obtaining all necessary consents
• Potential to create Additional Parking Space Income
• Total Current Rent Reserved including VAT (equivalent)
£20,170 per annum
Reversions from 2058
IN SAME FAMILY OWNERSHIP FOR 57 YEARS
LocationThe property is located in New Malden within the Royal Borough of Kingston upon Thames. The property is situated on the south side of Lime Grove, between its junctions with Coombe Road (B283) and Poplar Grove.Local amenities are readily available nearby on New Malden High Street, whilst more extensive shopping facilities are accessible in Kingston to the west and Wimbledon to the north-east. Rail services run from New Malden Station on the High Street approximately 320m (350 yds) from the property.Road communications are provided by the B283 which connects with the A3 to the south, which in turn provides access to Central London and the M25 Motorway. The open spaces of Richmond Park, Wimbledon Common and Bushy Park are all within reach.
DescriptionThe property comprises a part reversionary ground rent investment secured upon two buildings, each arranged over ground and first floors beneath a pitched roof. The buildings are internally arranged to provide a total of six self-contained flats (6 x two bedroom flats).
To the rear of the buildings there is a parade of fourteen lock-up garages and a large forecourt area providing informal parking facilities and which extends to approximately 0.056 hectares (0.138 acres) in total.Each garage has the benefit of mains electricity and a water tap is available on the forecourt.The garages are accessed via Lime Grove.
Accommodation and Tenancies
A schedule of Tenancies is set out below.
The garages and forecourt site area is approximately 0.056 hectares
(0.138 acres), whilst the overall Freehold site area extends to approximately 0.151 hectares (0.372 acres).
PlanningLocal Planning Authority: The Royal Borough of Kingston upon Thames.
Tel: 0208 547 5000.
The garage parade and forecourt area may afford potential for redevelopment, subject to obtaining all necessary consents.
VAT is not applicable to the purchase price.
NB.The lessees have NOT elected to take up their rights of pre-emption under the terms of the Landlord & Tenant Act 1987.
Seller's SolicitorMessrs ZGRP Limited (Ref: GW).
Tel: 0208 944 1180.