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- An exciting opportunity to purchase a commercial investment and residential development opportunity located in the heart of Wimbledon, south-west London.
- The property is located at the centre of Wimbledon Broadway, 0.2 miles from Wimbledon Station.
- The existing building is arranged as a vacant commercial premises on the ground floor with ancillary uppers. The building currently measures 3,896 sq ft.
- Agreement for lease signed for the ground floor commercial premises to the tenant Chik’n, which is owned jointly by the Sir Charles Dunstone Investment fund (frestonventures.com/ventures) and the Chicken Shop (chickenshop.com) a brand owned by Soho House.
- The tenant has recently rebranded as the Chicken Shop (chickenshop.com).
- Lease to be a 15 year term with a mutual break at year 10 with an annual rent of£140,000, with 5 yearly rent reviews (copy of lease available upon request).
- Planning Permission has been granted for conversion of the existing ancillary uppers and new build to the rear to create a total of 4 apartments.
- The conversion element will comprise 1 x 2-bed (759 sq ft) and 1 x 3-bed (1,097 sq ft).
- The new build element to the rear will consist of 1 x 1-bed (670 sq ft) and 1 x 2-bed (812 sq ft).
- CIL Liability – £57,165.75.
- Freehold.
- The property is elected for VAT.
- Asking Price: OIEO £3,000,000 (Three Million Pounds) subject to contract.
