The property comprises an attractive 5-storey Victorian mid terraced building trading as a beauty salon over ground and basement with 1 x 2 bedroom and 3 x 1 bedroom flats arranged over rear ground and upper first, second and third floors.
The retail part offers potential for strong rental growth at the forthcoming rent review on 6th July 2015. The passing rent currently analyses to approximately £ 72.70/sq. ft. Zone A with the most recent open market letting on The Pavement analysing to approximately £ 97.63/sq. ft. Zone A at No. 17 let in September 2014.
There is strong rental growth prospects for each of the residential flats as shown in the above table in addition to strong capital values if the flats were sold off on long leaseholds.
The commercial property is entered in the 2010 rating list with a rateable value of £ 19,250.
Interested parties should contact the local authority to confirm rates payable.
Offers in excess of £ 2,000,000 (Two Million Pounds) for the freehold interest.
We have been advised that VAT is not applicable.
The property is situated in a prime position on The Pavement directly opposite Clapham Common Station and within the heart of Clapham’s retail centre.
The Pavement continues to grow in popularity as a shopping destination with an ever improving selection of retailers, cafes, restaurants and bars. Neighbouring occupiers include Little Waitrose, Caffé Nero, Oliver Bonas, Starbucks and Byron Burger Restaurant.