9A Devonshire Road

Chiswick, London, W4 2EU

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Under Offer
Property Type Investment / Residential / Retail
Tenure For Sale
Size 1,716 sq ft
Price Offers in excess of £1,400,000
Energy Performance Rating This property has been graded as C (73)

Freehold Chiswick retail and residential investment

(Business not affected)

Key Points

  • Restaurant let to the world famous Napoli on the Road
  • 10 year lease from 21st June 2019 at £55,000pa (£114ZA approx). Outstanding rent review June 2024.
  • 2 Residential Units (1 vacant, 1 AST)
  • Total current income £71,500pa. ERV £93,100pa
  • Seeking offers in excess of £1,400,000 (6.25% implied initial yield)

Description

A rare opportunity to acquire an attractive freehold retail and residential investment with future development and/or break up potential, located in the heart of Chiswick.

Available area

The accommodation comprises the following areas:

Name sq ft sq m Rent Availability
Ground - Ground Floor Restaurant 1,000 92.90 £55,000 /annum Let
1st - First Floor Front 435 40.41 - Available
1st - First Floor Rear 281 26.11 £16,500 /annum Let
Total 1,716 159.42

Location

The property is situated in the popular retailing and restaurant area of Devonshire Road, being just off Chiswick High Road and convenient for all the excellent shopping and transport facilities of Chiswick.

The street is home to a range of boutiques and shops, as well as service-sector businesses and restaurants. Nearby occupiers include Lea & Sandeman Wine Merchants, the renowned restaurant La Trompette, along with a host of excellent independent boutiques, cafes and restaurants.

Turnham Green TfL station is a 5 minute walk to the north, providing London Underground routes via the District and Piccadilly (off-peak hours) lines. Numerous local bus routes & Cycleway 9 pass along the A315 Chiswick High Road.

Title & Tenancies

The property is held freehold. Title number AGL126547.

The Ground Floor & Basement shop is let to MA.GI.MI Limited t/a Napoli on the Road for a term of 10 years from 21st June 2019 FR&I, with an upward only rent review on 21st June 2024. The passing rent is £55,000 per annum.

The 1st Floor Rear Studio is let on an Assured Shorthold Tenancy producing a rent of £1,375 pcm/£16,500pa. The 1st Floor 1 Bed Flat, which is presented to a high standard, is currently vacant and could be relet or sold-off (ERV £1,800 pcm/£21,600 pa)).

Terms

Offers are sought in excess of £1,400,000. Implied NIY 6.25%.

Purchasers will be required to provide identity information so Anti-Money Laundering checks can be undertaken before an offer can be accepted.

Viewings

Strictly by appointment with Whitman & Co Commercial.