40 st matthew’s road, brixton, london sw2 1nl · st matthew’s road and brixton water lane. the...
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RESIDENTIAL GROUND RENT & COMMERCIAL INVESTMENT FOR SALE
40 ST MATTHEW’S ROAD, BRIXTON, LONDON SW2 1NL
SUMMARY• Ground floor A1 / A2 / D1 / D2 / B1 unit of 3,328ft2 let to ‘Hotpod Yoga Ltd’ until 2027 at a rent of £55,000 per annum
• 9 residential units producing a ground rent income of £3,475 per annum which doubles every 25 years
• Sought-after location in close proximity Brixton town centre and Brixton Station
• Offers invited in excess of £850,000 freehold, reflecting 6.5% NIY
DESCRIPTIONThe property comprises a 4-storey mixed-use building constructed in 2016 which consists of a commercial unit extending to approximately 3,328ft2 at ground floor with 9 residential apartments within the upper floors.
The commercial unit benefits from A1 (Retail), A2 (Financial Establishments), D2 (Assembly & Leisure), D1 (Non-residential Institutions) and B1 (Office) Use Classes and has dual frontage, with access coming from St Matthew’s Road.
The unit is let to a yoga operator and will be trading from May 2017 as their head office, as well as a yoga studio.
LOCATION
The property occupies a prominent corner position with frontages to
St Matthew’s Road and Brixton Water Lane. The Local Authority is the
London Borough of Lambeth.
The area comprises of a mix of commercial and residential uses, with
most local shops, restaurants and amenities focused around nearby
Brixton Hill and Brixton Road.
The property is located approximately 600m from Brixton Station
which provides London Underground and National Rail services.
Joe Goldsmith– 020 7183 [email protected]
Jordan Oldfield – 020 7183 [email protected]
CONTACTTo discuss any aspect of this property or the disposal process, please contact the Seller’s sole agents:
TENUREThe property will be sold freehold and subject to the existing tenancies remaining in-situ.
TERMSOffers are invited in excess of £850,000 reflecting a Net Initial Yield of circa 6.5%.
VATWe understand that the property is elected for VAT.
ADDITIONAL INFORMATION
Further information including lease documents can be found in our
dataroom using access code ‘Matthews’ .
TENANCIES
The ground floor commercial unit is let to Hot Pod Yoga Ltd
(www.hotpodyoga.com) on a 10 year FRI lease from 24th March 2017.
The initial annual rent for Year 1 is £27,500 with an uplift to £40,000 in
Year 2 and £55,000 from Year 3, with an open market rent review in
Year 5.
The 9 residential units are sold off on 125 year leases from 25.12.2015
producing a combined rental income of £3,475 per annum which
doubles every 25 years. Flats 1, 2, 3 and 5 produce £400 per annum
each and Flats 4, 6, 7, 8 and 9 produce £375 per annum each.
Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.
Kingsbury1st Floor, 81 Alie Street, London E1 8NH
RESIDENTIAL GROUND RENT & COMMERCIAL INVESTMENT FOR SALE
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Ground Floor Plan
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