Investment for sale in -35 Tranquil Vale, Blackheath, London
A rare opportunity to acquire an attractive, freehold commercial investment in the very heart of Blackheath Village. The building has recently undergone extensive refurbishment and extension works, and has been fitted to an exceptional standard throughout.
The ground floor unit measures circa 900 sqft and boasts a wide and prominent frontage. Let to Space NK Limited for a 10 year term which commenced in September 2020 with a break option and rent review (open market upward only) on the 5th anniversary, the passing rent is £68,000 per annum rising to £70,000 per annum fixed for years 3, 4 and 5.
Space NK operates out of 76 stores nationwide; which are all open and trading post-lockdown. Last year's company accounts show a turnover of £109m, with total current assets of £50m, and a net worth of £31m.
The upper parts are self-contained with their own access from Collins Street (side road). This space measures a total of circa 1,800 sqft and is newly let to Blackheath Yoga Limited for a 12 year term which commenced in June 2020 with a mutual break option and rent review (open market upward only) on the 6th anniversary. The passing rent is £42,000 per annum, and a 9 month deposit (£31,500) is held on account. The lease is also subject to a personal guarantee.