A Commercial Investment Comprising a Petrol Filling Station and Shop Fully Let to Malthurst Limited t/a Londis & Shell Producing £17,570 Per Annum (Reflecting a Gross Initial Yield of 31.9%)
8 Well Hall Road, Eltham, London, SE9 6SY
A commercial investment comprising a petrol filling station and shop held on leasehold (approximately 9 years unexpired on a 99-year lease from March 1937), fully let to Malthurst Limited t/a Londis & Shell producing £17,570 per annum.
Full description
A commercial investment comprising a ground floor shop unit and petrol filling station located on Well Hall Road, Eltham, close to local shops and amenities with easy reach to the open spaces of Well Hall Pleasaunce and Eltham Station rail station. The property is held leasehold on a 99-year lease from 2nd March 1937, with approximately 9 years unexpired. The shop is let to Malthurst Limited t/a Londis at a rent of £17,500 per annum. The tenant is committed to paying only 50% of the market rent at the next rent review. The petrol station is let to Malthurst Limited t/a Shell on a long lease for a term of 45 years commencing 10th August 1990 (approximately 9 years unexpired) at a rent of £70 per annum. The property produces a total annual income of £17,570, reflecting a gross initial yield of 31.9%. Prospective buyers should be aware that lease extension to 90+ years may require payment of a premium to the freeholder via Section 42 notice procedure.
Financial Tools
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