OFFICES FOR SALE 61 - 67 MORTLAKE HIGH STREET …bulkloader.prd.pl.artirix.com.s3.amazonaws.com/...OFFICES FOR SALE 61 - 67 MORTLAKE HIGH STREET LONDON SW14 8HL 857 ft² (79.7 m²)
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OFFICES FOR SALE 61 - 67 MORTLAKE HIGH
STREET LONDON
SW14 8HL
№ 61 857 ft² (79.7 m²) GIA SOLD
№ 65a 595 ft² (55.3 m²) GIA FOR SALE
№ 65b 635 ft² (59.0 m²) GIA FOR SALE
№ 67 1,387 ft² (139 m²) GIA FOR SALE
TOTAL 2,617 ft² (243.1 m²) GIA
Evidently stylish detailing + design
▪ Rarely available in South West London
▪ Ground floor
▪ Newly refurbished
▪ Contemporary modern finishes
▪ On-street permit car spaces available for each unit
▪ Mortlake BR Station circa 340 m
▪ River Thames setting
▪ Virtual freehold for sale
Available as a whole (all-interconnecting), or as self-contained units
So roughly what will it cost and how does it
compare to leasing ...?
Owner-Occupier @ £470,000* (assumes 25% deposit) – borrowing £329,000
Tradition FRI Lease at £34.00 psf.
Serviced Offices / Business Centre 8 person @ £350 pcm per desk
Monthly payment
£2,393 – of which more than £1,360 pcm reduces the initial £329,000 borrowing.
£2,430 £2,800 pcm
Annual repayment or rent
£28,716 – circa £15,000 of which goes towards reducing the loan in year 1 alone; a figure which will improve annually.
£29,150 pax £33,600 pa
Asset Value after 15 years (180 months)
£470,000** No debt left at this stage, as loan has been repaid.
No likely asset value to the tenant.
No likely asset value to the tenant.
Liability (Dilapidations @ say £17.50 psf.)
Not applicable -£15,000 Not applicable
*Assumes borrowing fixed at 3.75% for 15-year term
**Values can go up or down
Buy Your Own Office …
Why don’t more businesses own their premises
…?
In Greater London and south west London in particular, opportunities for a
business to actually buy its own premises are generally very limited, or non-
existent for many.
Yet for the stable business, surely it would make
absolute sense …
Indeed, and businesses that own their premises generally enjoy an asset on their
balance sheet, the ‘feel good factor’ of property ownership and (in these days
when the profile of a business can be ascertained at a few clicks of the mouse)
the dependable and stable perception that property ownership conveys to
clients and prospective clients.
And if I own my offices then …
I won’t have a landlord trying to put my rent up in the future. I can’t be required
to move on if my business is no longer the landlord’s best option. I don’t need
permission if I want to redecorate, change flooring or internal layout etc…
It’s a ‘no brainer’ ✓
Information on purchase costs is indicative only. Further information available from
Commercial Finance Brokers UK, who will be happy to discuss your funding
requirements with you. Contact John Price/ Ralph Black - telephone 0800 999 2015.
Note: Markets can change and property values can go up or down.
Location
Situated within the London Borough of Richmond upon Thames, Mortlake is an
established, attractive and desirable south west London location. It is situated
approximately 6 miles from central London and is bounded by Chiswick to the north,
East Sheen to the south, Barnes to the east and Richmond to the west.
Mortlake enjoys good transport links with Barnes Bridge mainline railway station circa
850m to the north east and Mortlake mainline railway station circa 340m to the south
west of the site, providing regular services to Richmond (4 minutes) and London
Waterloo (23 minutes).
Mortlake is served by various bus routes with a bus stop a few metres away from the
main entrance to the site offering access to the 419 (Richmond to Hammersmith), 969
(Roehampton Vale to Whitton) and the N22 (Fulwell to Piccadilly Circus).
Road links from Mortlake are also very good; Junction 1 of the M4 is approximately 2
miles to the north and can be accessed via Mortlake Road (A205). The M3 is
approximately 7.5 miles to the south west and can be easily reached via the A316.
Heathrow Airport is approximately 13 miles to the west.
Various facilities are available along Mortlake High Street, with more extensive retail
and leisure offerings within the nearby centres of Barnes, East Sheen and Richmond.
The area also benefits from extensive green open space, with Mortlake Green being a
short walking distance from the property and Richmond Park less than a mile to the
south.
Situation
Boat Race House is situated on the north side of Mortlake High Street at its
western end. It occupies an attractive position next to an historic section of the
River Thames, bordering the property to the north. The name Boat Race House
is derived from its situation by the finish line of the annual University Boat Race,
a world-famous annual sporting fixture dating back to 1829.
Stag Brewery Regeneration Site
The Stag Brewery site is immediately to the west of the property. It comprises
a 22-acre site where a comprehensive redevelopment is proposed, to provide
a new and vibrant mixed-use district. A planning application has been
submitted by Reselton Properties, which includes provision of new offices,
shops, bars, restaurants, a gym, hotel and cinema as well as a rowing club,
alongside 667 new private and affordable residential homes. 9 acres of green
space with a school + an elderly care village are also incorporated within the
proposals. Boat Race House provides a rare opportunity for the savvy investor
to buy its own premises ahead of creation of this neighbouring substantial
regeneration project and the betterment it will bring to an already desirable
south west London destination.
Further information of www.stag-brewery.co.uk.
*This plan is for indicative purposes only.
RICK STEIN
Boat Race House
MORTLAKE
BARNES BRIDGE
CITY CENTRE
Description
Each suite is located on the ground floor of traditional Victorian property dating
from 1877, which we understand was originally part of a malthouse development.
The subject property enjoys direct frontage onto Mortlake High Street.
The property measures 595 – 2,617 ft² GIA.
Amenities
Each suite is to be comprehensively refurbished and will provide: -
➢ Period brick-built character offices ➢ Air-conditioning ➢ Contemporary modern finishes ➢ New flooring ➢ Top quality interior design ➢ LED lighting ➢ Undercroft gated cycle spaces available
Tenure
Each property is available to purchase on a ‘virtual freehold’ basis; namely on a 999-
year lease from 24 March 2000 at a peppercorn rent.
Sale Price
Unit Price
61 SOLD 65a £350,000 + VAT 65b £370,000 + VAT 67 £750,000 + VAT
Car Parking
On-street business car parking permits are available from London Borough of
Richmond, who wish to support and encourage employment generating uses in the
Borough. Permits are reasonably prices for businesses in Zone M, being £155 pa for the
first car, £234 pa for the second car, and £310 pa for the third car upwards. The London
Borough of Richmond advise that individual suites can apply for up to 5 car spaces.
Applicants should verify this information themselves by contacting the London Borough
of Richmond before acting upon it. Business permits can be used throughout the CPZ
Zone M, (not just in spaces allocated for business use), which are otherwise only
controlled during the hours of 9.00 – 11.00 Monday to Friday. Visitors and employees
needing space outside these restricted hours may park in allocated CPZ zones free of
charge.
Business Rates
To be reassessed – details available from the agents.
Note
These properties are not suitable for residential conversion, as it has been identified by
London Borough of Richmond as being worthy of employment generating protection
from Permitted Development rights, (by way of Article 4 exemption).
Unit 61- Internal Photograph Unit 61- Internal Photograph Unit 61- Internal Photograph
Contact
For further information or viewings
John Vokins j.vokins@vokins.co.uk
020 8400 8895
Patricia Hasmasan p.hasmasan@vokins.co.uk
020 8400 8898
Andrew Weeks aweeks@flcproperty.co.uk
020 8332 2662
Oliver Weeks oweeks@flcproperty.co.uk
020 8332 2707
Misrepresentation Act 1967. Every care has been taken in presentation of these particulars, however any intending purchaser/tenant should satisfy themselves as to the correctness of each statement contained herein. They are expressly excluded from any contract. VAT may be applicable to rents/prices quoted in these particulars. *STPP = Subject to Planning Permission
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