Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles south-east of Central London
10 miles north of Croydon
13 miles west of Dartford
Roads
A102, A2, A20, A206
Rail
Cutty Sark (DLR), Maze Hill Railway Station
Air
London City Airport, London Heathrow Airport, London Gatwick Airport
Situation
The Royal Borough of Greenwich is one of London’s most important tourist destinations being home to Greenwich Park, the Royal Observatory, the Cutty Sark and the National Maritime Museum, all in close proximity to the property. The property is situated on the south side of the busy Trafalgar Road (A206) at the junction with Mell Street, close to the O2 Arena and the University of Greenwich.
Tenure
Virtual Freehold. Held for a term of 999 years from 26/01/2012 at a peppercorn rent.
Location
Miles
7 miles south-east of Central London
10 miles north of Croydon
13 miles west of Dartford
Roads
A102, A2, A20, A206
Rail
Cutty Sark (DLR), Maze Hill Railway Station
Air
London City Airport, London Heathrow Airport, London Gatwick Airport
Situation
The Royal Borough of Greenwich is one of London’s most important tourist destinations being home to Greenwich Park, the Royal Observatory, the Cutty Sark and the National Maritime Museum, all in close proximity to the property. The property is situated on the south side of the busy Trafalgar Road (A206) at the junction with Mell Street, close to the O2 Arena and the University of Greenwich.
Tenure
Virtual Freehold. Held for a term of 999 years from 26/01/2012 at a peppercorn rent.
Description
The property comprises ground floor retail accommodation and forms part of a larger residential building.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail accommodation and forms part of a larger residential building.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Retail
373 sq m
(4,014 sq ft)
TESCO STORES LTD
15 years from 14th May 2007 until 2022 on a full repairing and insuring lease
£74,219
2017 (reviewed in line with Retail Price Index) (2)
Totals
373 sq m
(4,014 sq ft)
£74,219
(1) Tesco Stores Ltd, for the year ending 23/02/2013, reported a turnover of £42,662,000,000, pre-tax profits of £921,000,000 and a total net worth of £3,113,000,000. (Source: www.riskdisk.com 22/04/2014) (2)The lease permits for the rent to be reviewed in line with the Retail Prices Index. See rent review clause in the lease for details.
