FOR SALE
FREEHOLD COMMERCIAL INVESTMENT
MORDEN SOUTH WEST LONDON
28 CROWN LANE MORDEN, SURREY SM4 5BL
PRICE £350,000
SUBJECT TO CONTRACT
LOCATION
The property is situated on the north side of Crown Lane on the one way system directly opposite Crown House, currently occupied by the London Borough of Merton, and approximately 200m from Morden Northern Line Underground Station.
DESCRIPTION
The property comprises a two storey mid terrace building forming part of a parade of shops/offices and some residential units. Other users include Estate agent, Florist and Solicitors.
The current lessees are Keegan Solicitors on the first floor and Andrew’s Estate Agents on the ground floor.
FLOOR AREAS
Ground Floor
Front retail/sales area 446 sq ft
Middle office 149 sq ft
Rear office 334 sq ft
Cloakroom and 2x WC’s
First Floor
Self contained access off Crown Lane with stairs.
Reception 210 sq ft
Office 80 sq ft
Office 82 sq ft
Store 78 sq ft
Kitchenette and cloak room/WC
PARKING
There is rear access to a parking area which can accommodate approximately 4 cars. Two spaces are allocated to the ground floor and two spaces to the first floor lessees.
TENANCIES
The ground floor is currently let to Andrews Estate Agents Limited who are holding over under a lease dated 16 April 1999 originally for a term of 5 years with effect from 16 April 1999 expiring 15 April 2004 subject to review at the end of the third year. The current rent is £10,000 per annum exclusive payable quarterly in advance. The lease is effectively on a full repairing and insuring basis with the lessee contributing two thirds towards the cost of external/structural works and being responsible for all internal repairs and insurance.
Negotiations are currently taking place for the grant of a new lease to the ground floor lessee but terms have yet to be agreed.
The fist floor lessee is Keegan Solicitors currently paying a rent of £8,000 per annum exclusive and our clients would be prepared to re-grant the lease to coincide with the term on the ground floor.
TENURE
The property is offered freehold subject to the leases above.
PRICE
£350,000 subject to contract. VAT may be payable
VIEWING
Strictly by appointment through sole agents:
Metropolitan Property Solutions
2a Lancaster Road
Wimbledon Village
London SW19 5DD
T: 020 8739 0011
F: 020 8239 1104
Email: info@metrelo.com
Nigel Simpson (mobile) 07944297909
SUBJECT TO CONTRACT
While we endeavour to make our sales details accurate and reliable, if there is any point which is of particular importance to you, please contact this office and we will be pleased to check the information for you, particularly if you are contemplating travelling some distance to view the premises. All measurements are approximate.
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