Investment Consideration:
Gross Initial Yield: 3.43%
Rental Income: £9,600 p.a.
VAT is NOT applicable to this property
Comprises retail premises arranged over ground floor and basement
Total area size of 123.50 sq m (1,330 sq ft)
Tenancy at will agreement. Tenant and landlord option to determine at any time with minimum 1 month notice.
Planning approved for conversion of lower ground floor to 2-Bed Flat
Deed of variation for development signed off
Located in predominantly residential area within 0.3 miles from Woolwich Arsenal train and DLR station.

Property Description:
The property is arranged on basement and ground floor only to provide a commercial unit, which forms part of a larger building not included in the sale.
The property provides the following accommodation and dimensions:
Basement: 71.20 sq m (800 sq ft)
Ground Floor: 49.30 sq m (530 sq ft)
Total area: 123.50 sq m (1,330 sq ft)

Tenancy:
The property is at present let on Tenancy at Will to New Look Beauty Saloon Limited from 23rd January 2018 at a current rent of £9,600 per annum. Mutual break clause at any time, with minimum 1 month notice.

Tenure:
Virtual Freehold. Held for a term of 999 years from 29th July 2005 at a current rent of £1 per annum plus insurance rent and service charge.

Location:
The London Borough of Greenwich has a population in excess of 210,000 and was formed from the amalgamation of the Metropolitan Borough of Greenwich and Woolwich. Woolwich is a major commercial and retail centre located on the south bank of the River Thames, 8 miles east of Central London, and is served by the A206 which links up with the A102 at the Blackwall Tunnel and gives easy access to the A205 (South Circular Road) whilst the A2 and A20 provide access to the M2, M20 and M25 motorways. The property is situated in a residential area to the south of Woolwich town centre, 0.3 miles from Woolwich Arsenal Rail & DLR Station. The site is close to a Tesco development and the 'Woolwich Central' residential scheme comprising 159 new private dwellings.