Retail Investment Let to Domino’s, Putney, SW15
Early reversion - 999 year lease plus share of freehold
Ground floor and basement, 142 Upper Richmond Road, Putney, London SW15
Situation & Location
The property is situated on the the northern side of Upper Richmond Road, close to East Putney underground (District Line). The property lies adjacent to Pizza Express. Home Restaurant and Nando’s are close by.
Description & Accommodation
The property comprises a self-contained basement and ground floor unit with forecourt and rear yard.
Ground floor sales area 341 sq ft | Basement kitchen/prep 381 sq f
Tenancy
The property is let to DP Realty Ltd t/a Dominos on effectively full repairing and insuring lease for a term of 15 years from 25th March 2012, thus expiring on 24th March 2027, at a current rent of £36,000 per annum. The lease is taken outside the security of tenure provisions of the Landlord & Tenant Act 1954.
DP Realty is the intermediary lessor for the vast majority of the Domino’s franchised store network in the UK and Ireland and its last reported gross lease income was in excess of £194 million.
Guide Price
£486,000 to give a net initial yield of 7.13 % after usual purchase costs.
Legal Costs
Each party to bear their own.
EPC
In preparation.
VAT
The property is not opted.
NB
The upper maisonette is available by separate negotiation.
Contact
Jeremy Barnard
Tel: 020 7938 3990
Fax: 020 7937 3764
Email: jb@jmwbarnard.com
Important Notice: Measurements are approximate and no responsibility is taken for any error, omission or mis-statement in these particulars which do not constitute an offer or contract. No representation or warranty is given either during negotiations, in particulars, or elsewhere. Unless otherwise stated all rents and prices are exclusive of VAT, where applicable.
