Location
Upper Richmond Road West, which forms part of the South Circular, is a busy thoroughfare with a high number of residential property in the area. It offers a varied selection of shops and restaurants and benefits from direct transport links to Waterloo from Mortlake and Barnes Stations. The property occupies a favourable position on the High Street, with high footfall.
Description/Accommodation
Established in 1991 in East Sheen Valentina has grown to a thriving family business with premises in both East Sheen and Weybridge,. This is an opportunity to acquire Valentina’s restaurant premises in East Sheen via a sale and leaseback with a Lease granted back to Valentina in respect of the ground floor and basement.
The property provides commercial restaurant premises at ground and basement with two residential flats at first and second floor levels.
Approximate net internal areas
Ground Floor
106.83 sq m - 1,150 sq ft
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Basement
18.58 sq m - 200 sq ft
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Total
125.41 sq m - 1,350 sq ft
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1st Floor 1 Bed Flat:
46.45 sq m - 500 sq ft
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Second Floor Studio Flat (Not inspected)
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(Approx
42.10 sq m - 453 sq ft)
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Total
213.92 sq m - 2,303 sq ft
Tenancy Details
The ground floor and basement is to be Leased back to Valentina for a Lease term to be agreed at £40,000 per annum.
The first and second floors flats are let on ASTS as follows:
First Floor Flat: £1100 pcm
Second Floor Flat: £1180 pcm
Price:
£1,175,000 plus VAT (if applicable)-
VAT
VAT is not applicable.
Business Rates
According to the Government website the property has a Rateable Value of £17,000. The UBR for 2023/24 is 49.9p in the £.
Legal costs
Each Party to bear their own legal costs incurred in this transaction.
Energy Performance Certificate
Energy Performance Rating C (62).
Benefits include
More informationArrange an inspection
Strictly by appointment with Sole Agents
Gildersleve & Payne: 01883 723888
Nick Payne
Email: nickp@gpcommercial.co.uk
Property Misdescriptions Act 1991 Please note the agents have not carried out a survey, have not made planning enquiries nor tested any of the equipment, apparatus, fixtures, fittings, services or land and are therefore not able to verify their condition, or suitability for their purpose
Code of Practice Applicants should be aware that the code of practice on commercial leases in England and Wales strongly recommends you seek professional advice from a qualified Surveyor, Solicitor or Licenced Conveyencer before agreeing or signing a Business Tenancy Agreement. The Code is available through professional institutions and trade associations or through the website www.leasingbusinesspremises.co.uk
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