Sold

Clapham – Highly Reversionary Forecourt & Convenience Store Investment

474 - 488 Wandsworth Road, Clapham, London, SW8 3LT

Offers in excess of £2,500,000

Property Type:
Commercial
Sub Type:
Petrol Filling Station
Tenure:
Freehold
Net Initial Yield:
4.00%

Description

  • Prominent location on the busy Wandsworth Road (A3036) in the London Borough of Lambeth
  • The only petrol filling station on Wandsworth Road and within a 1 mile radius
  • The property comprises a total of 298.6 sq m (3,214 sq ft) of retail accommodation with 8 petrol pumps
  • Let to the covenant of Co-operative Foodstores Limited, guaranteed by the secure covenant of Co-Operative Group Limited (5A1)
  • 6.2 years term certain (no breaks)
  • Topped up rent of £106,878 per annum to the June 2021 fixed uplift
  • Estimated market rental value of £175,000 per annum
  • The lease benefits from subject to fixed annual uplifts of 2%
  • Estimated retail sales turnover of £1.6m per annum and fuel volume of 4.6m litres per annum
  • Site Area of 0.29 acres
  • Freehold
  • Underlying long term residential development potential with residential sales in the area achieving in excess of £900 psf.