327 Upper Richmond Rd W 460 SF Retail Building London SW14 8QR $512,768 CAD ($1,114.71 CAD/SF) 6.07% Cap Rate

This attractive ground floor shop unit is let to an opticians on a 20 year lease from 2017 at a current rent of £17,000 p.a. Rent Reviews are 5 yearly, with the next one being in 2027. The 2020 review was not actioned and the current passing rent is now considered below market rent. We understand the lease is drafted within the Landlord and Tenant Act 1954, but have not inspected this. The rent deposit was returned to the tenant after five years in accordance with the lease terms. The tenant is Blink Optics Limited.
The freehold is owned jointly between our client and the two flat owners. Each party has a lease granted out of the freehold and our clients lease is for a term of 125 years from 29/09/1999.
The shop forms part of an attractive mid terrace three storey property and measures approximately 450 sq ft- there is rear access to a yard, which the flats also have access rights over.