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)

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 [email protected]

020 8400 8895

Patricia Hasmasan [email protected]

020 8400 8898

Andrew Weeks [email protected]

020 8332 2662

Oliver Weeks [email protected]

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