2-4 Leigham Court Road

At a glance

Key Points

• 7.2% Gross yield, before any purchaser costs
• Sale price £500,000 for the benefit of the Long Leasehold
• Freehold also available subject to further negotiation
• Current Income - £36,000 per annum
• Current tenant - Body Fit Training (BFT)
• Prominent Location - Close to Streatham Hill Station

Description

HEAD LEASE/LONG LEASE : The virtual-freehold/long leasehold is available (250-years from 2014) at a guide price of £500,000 (ex. VAT). The long leasehold is subject to a Ground Rent of £300 per annum

The Freehold is also available at an additional price - terms on application/subject to further negotiation

The purchase price of £500,000 reflects a Gross Yield of 7.2% before any purchaser costs

TENANT DETAILS : The premises are let on a FRI lease to a Body Fit Training (“BFT”) gym franchisee, who also owns a second BFT gym in Battersea, London.

TENANCY DETAILS : The property is let on a FRI lease to FHL Streatham Ltd (with a guarantor from FHL Battersea Ltd), for a term of 10-years (held outside The 1954 Act) expiring in August 2035. The lease allows for a tenant-only break option which can be exercised in August 2030

The current rent is £36,000 per annum exclusive, with the next rent review in August 2030 (upwards-only, RPI-index based). A 3-month rent deposit is held as a lease security.

The Tenant benefits from a rent-free period until 11th March 2026.

The Location

The premises are situated on Leigham Court Road close to the prominent junction with Streatham High Road (A23)

Streatham Hill offers a high density of residential occupiers as well as national and local retail/office occupiers in close proximity.

Streatham Hill National Rail Station, Marks & Spencer and the London Square Streatham Hill residential development are all within 2 minutes walk

The property is located within the London Borough of Lambeth