24 & 25 September 2024: Tuesday 24 September 2024 - 9:30am
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Guide price
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Hammer price
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Key features
- To be offered on Tuesday 24 September
- Unique Central London Investment Opportunity
- Retail Unit with Rear Showroom
- Let to Domus Tiles Limited
- Lease Expires 31/07/2028
- Producing £98,000 per annum
- Tenant Expected to Renew Lease
- 7,141 sq ft (663.41 sq m)
- Established and Popular Location
- Development Potential (subject to obtaining any requisite consents)
- Guide Price Reflects 8% Gross Yield
Description
The property comprises a unique investment opportunity let to an established local business in the heart of Battersea.
Arranged as a ground floor retail unit with a large rear showroom, the property is let to Domus Tiles Limited on a lease expiring 31/07/2028 and paying £98,000 per annum.
Domus is the UK's leading consultant and supplier of tiles to both businesses and end-users, completing projects including Wembley Stadium, Heathrow Terminals 2&5, Battersea Power Station and the new US Embassy in Nine Elms.
The tenant has been in occupation 20+ years and we understand they would consider a renewal of the lease. The tenants have recently completed a comprehensive refurbishment within the last 10 months at an approximate net expenditure of £120,000, displaying their commitment to the location.
The property is situated with a prominent frontage to Queenstown Road with the showroom spanning a large area to the rear of the retail and residential units on the street. The property may be suitable for a variety of alternative uses and development, subject to obtaining the requisite consents.
Additional information
Tenure
Freehold
Tenancy
The property is let to Domus Tiles Limited on a lease expiring 31/07/2028. The lease is on full repairing and insuring terms and the tenant has been in occupation for 20+ years, having recently completed a comprehensive refurbishment.
We understand the tenants may agree to a lease renewal.
The residential units to the upper parts are sold off on a long leasehold basis.
Domus Tiles Limited
- D&B Rating: 2A2
- Turnover (2022): £20,365,000
- Total Assets (2022): £13,462,000
- Employees: 120
After more than 60 years of service dedicated to commercial and residential projects, Domus has established an enviable reputation as the UK’s market leading consultant and supplier of tiles and engineered flooring to architects, interior designers and commercial end users.
Landmark projects include Wembley Stadium, Heathrow terminals 2&5, Battersea Power Station and the new US Embassy in Nine Elms.
Recent residential projects include prime London developments The Whiteley, Marylebone Square and Berkeley’s Fulham Reach.
Domus employs over 120 staff based across a national network of showrooms including two central London flagships, a Surrey HQ and new distribution centre in Rochester.
Planning
Whilst there are no extant planning consents, the property may suit conversion or development to alternative uses, subject to obtaining the requisite consents.
Rent
£98,000 per annum
Notes
Domus Tiles Limited is a wholly owned subsidiary of Headlam Group Plc:
- D&B Rating: 5A1
- Turnover (2023): £656m
- Pre-Tax Profit (2023): £7.1m
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