Freehold Retail and Residential Ground Rent Investment
Retail let to Power Leisure Bookmakers Limited until 2024 (subject to option)
Includes 6 residential flats
Prominent position at the junction of Denmark Hill
Popular South East London suburb close to the Major Kings College Hospital
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 20
Auction 11th February 2016
Rent £52,750 per Annum Exclusive
Status Sold
Price £750,000
Sector High Street Retail
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
3 miles south-east of Central London
Roads
Denmark Hill (A215), South Circular Road (A205), Brixton Road (A23), A3, A202
Rail
Denmark Hill Overground Station (Approx 9 mins to London Victoria and 17 mins to London Bridge)
Air
London City Airport, London Heathrow, London Gatwick
Situation
The property is situated in a prominent position on the west side of Coldharbour Lane at its junction with the busy Denmark Hill (A215) in the popular south-east London district of Camberwell. Central London is some 3 miles north of Camberwell and the property benefits from being some 300 metres from Kings College London, one of London’s largest hospitals.
Tenure
Freehold.
Location
Miles
3 miles south-east of Central London
Roads
Denmark Hill (A215), South Circular Road (A205), Brixton Road (A23), A3, A202
Rail
Denmark Hill Overground Station (Approx 9 mins to London Victoria and 17 mins to London Bridge)
Air
London City Airport, London Heathrow, London Gatwick
Situation
The property is situated in a prominent position on the west side of Coldharbour Lane at its junction with the busy Denmark Hill (A215) in the popular south-east London district of Camberwell. Central London is some 3 miles north of Camberwell and the property benefits from being some 300 metres from Kings College London, one of London’s largest hospitals.
Tenure
Freehold.
Description
The property comprises ground and lower ground floor retail accommodation with 6 self-contained residential flats on the first to third floors. The property also benefits from a gated yard to the rear.
Six Week Completion
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 not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground and lower ground floor retail accommodation with 6 self-contained residential flats on the first to third floors. The property also benefits from a gated yard to the rear.
Six Week Completion
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 not 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/(Reversion)
Lower Ground Ground
Retail
54.06 sq m 104.77 sq m
(582 sq ft) (1,128 sq ft)
POWER LEISURE BOOKMAKERS LIMITED (1)
15 years from 26/08/2009 on a full repairing and insuring lease (2)
£51,250
26/08/2019 (25/08/2024)
First to Third
Residential
6 x Residential Flats
INDIVIDUALS
99 years from 24/06/2004 (4)
£1,500 (3)
(23/06/2103)
Total Commercial Area
158.83 sq m
(1,710 sq ft)
£52,750
(1) Paddy Power plc is the Ultimate Holding Company. Paddy Power operates from 319 shops in the United Kingdom and Ireland. (Source: www.paddypower.com). (2) The lease provides for a tenant option to determine the lease on 25/08/2019. (3) The rent doubles every 33 years. (4) The seller has served a notice on the qualifying residential tenants pursuant to Section 5b of the Landlord and Tenant Act 1987.
