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2-4 Leigham Court Rd 2,389 SF Retail Condo Unit Offered at $668,753 in London SW16 2PD
INVESTMENT HIGHLIGHTS
- Excellent transport links
- Recently let on a FRI lease
- Heavy pedestrian traffic
EXECUTIVE SUMMARY
The premises are situated on Leigham Court Road, a short walk from Streatham Hill Train Station, near to the junction with Streatham High Road. Leigham Court Road is a busy thoroughfare and bus route, linking Streatham Hill with Streatham Common. The property is prominent and highly visible.
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PROPERTY FACTS
| Total Building Size | 72,000 SF | Floors | 7 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 9,355 SF |
| Property Subtype | Apartment | Year Built | 1958 |
| Building Class | B | Lot Size | 2.53 AC |
| Total Building Size | 72,000 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 7 |
| Typical Floor Size | 9,355 SF |
| Year Built | 1958 |
| Lot Size | 2.53 AC |
1 UNIT AVAILABLE
Unit 2-4
| Unit Size | 2,389 SF | Sale Type | Investment |
| Price | $668,753 | Tenure | Freehold/Long Leasehold |
| Price Per SF | $279.93 | Cap Rate | 6.77% |
| Condo Use | Retail | NOI | $45,274.59 |
| Unit Size | 2,389 SF |
| Price | $668,753 |
| Price Per SF | $279.93 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold/Long Leasehold |
| Cap Rate | 6.77% |
| NOI | $45,274.59 |
DESCRIPTION
The premises has recently been let on a FRI lease to a Body Fit Training (“BFT”) gym franchisee, who has recently opened for trade.
Australia in 2017. BFT has now grown to over 330 gym studios in 13 countries. The Tenant also owns the BFT in Battersea, which acts as guarantor to BFT Streatham.
SALE NOTES
The property is let on a FRI lease to FHL Streatham Ltd (with a guarantor from FHL Battersea Ltd), for a term of 10-years (held outside The 1954 Act) expiring in August 2035. There is a Tenant-only break option in August 2030.
The rent is £36,000 pax, with next rent review in August 2030 (upwards-only, RPI-index based). A 3-month rent deposit is held. The Tenant is currently in a rent free period, until 11 March 2026.
The virtual-freehold is available (250-years from 2014) at a guide price of £500,000 (ex. VAT). There is a ground rent payable of £300 pa.
The Freehold is also available - terms on application. A purchase at this price reflects a Net Initial Yield of 6.77%, after Standard Purchaser’s Costs of 6.32%.
2-4 ext
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2-4 Leigham Court Rd
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