Kingston Road, Wimbledon SW20

  Ref 024134    

Kingston Road, Wimbledon SW20

Ref 024134

  • £1,000,000
    £1,000,000 pa  

    Under Offer

    £1,000,000
    £1,000,000 pa  

    Under Offer

  • Description

    The premises form part of the ground floor of what is to be a new high spec residential development. The building is currently under construction and refurbishment and due to complete soon. The ground floor has been let from January 2020 to a franchise t/as F45 Gyms. The premises have D2 use.

    Gallery

    Area

    Ground floor unit 2200 sq ft (205 sq m)

    Lease

    A new full repairing and insuring lease for a term of 10 years at a commencing rent of £62,000 pa. The lease is within the Landlord & Tenant Act 1954. An upward only rent review at the 5th year of the term. A 6 months rent free period from completion. Lease commencement date January 2020.

    Tenancy

    Let to Streamlined Communications Pte Limited (t/as F45 Gym). There is a 6 month rent deposit held for the term of the lease.

    Tenant Information

    F45 Gyms are a franchise operation trading from approximately 1300 units in 33 countries around the world including 570 in Australia and around 400 in the US.

    Tenure

    To be offered on a new 999 year lease at a peppercorn ground rent.

    £1m (one million pounds) sought for the investment, subject to the tenancy detailed above plus showing a gross yield of 6.2%.

    Location

    Situated on Kingston Road opposite Wimbledon Chase network rail station, which offers fast access to Central London and on to St Albans. The premises form part of a small parade which includes Co-op supermarkets and are directly opposite Tesco Local and Costa Coffee. The premises are also directly opposite the pelican crossing so there is a high footfall from the station at peak times .

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    Under Offer

    £1,000,000
    £1,000,000 pa