Thomas A Becket 320 - 322 Old Kent Road (A2) London SE1 5UE

Thomas A Becket
320 - 322 Old Kent Road (A2)
London
SE1 5UE

Freehold Public House and Residential Investment

  • Landmark substantial corner building
  • Includes 4 Residential Units
  • Approximately 746.83 sq m (8,039 sq ft)
  • Residential Redevelopment potential of upper parts (subject to consents)
  • Producing £133,800 p.a.x. rising to £138,800 in January 2019
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    10
  • Auction
    25th May 2017
  • Rent
    £133,800 per Annum Exclusive
  • Status
    Sold
  • Price
    £2,410,000
  • Sector
    Public House
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Public House and Residential Investment

  • Landmark substantial corner building
  • Includes 4 Residential Units
  • Approximately 746.83 sq m (8,039 sq ft)
  • Residential Redevelopment potential of upper parts (subject to consents)
  • Producing £133,800 p.a.x. rising to £138,800 in January 2019
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 10
  • Auction 25th May 2017
  • Rent
  • Status Sold
  • Price £2,410,000
  • Sector
    Public House
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
1.5 miles south-east of the City of London, 2.5 miles south-east of the West End
Roads
A2, A201, B204
Rail
Elephant & Castle Railway Station, Elephant & Castle (Bakerloo and Northern Lines) and Bermondsey (Jubilee Line) Underground Stations
Air
London Heathrow, London Gatwick and London City Airports
Situation

The property is located on the south side of the busy Old Kent Road (A2), a major arterial route through South East London, at its junction with Albany Road (B204) and directly opposite the substantial and attractive Burgess Park, Tesco Superstore and the Southernwood Retail Park. The property further benefits from being approximately 1 mile south-east of Elephant and Castle, which is currently undergoing a £3 billion regeneration project including the creation of a new pedestrianised town centre, a market square, 5,000 new homes, new retail, educational and leisure space, an integrated public transport hub and new green space. (Source: www.elephantandcastletowncentre.co.uk). Neighbouring occupiers include Tesco, Argos, DFS and Sports Direct.

Tenure

Freehold.

Location
Miles
1.5 miles south-east of the City of London, 2.5 miles south-east of the West End
Roads
A2, A201, B204
Rail
Elephant & Castle Railway Station, Elephant & Castle (Bakerloo and Northern Lines) and Bermondsey (Jubilee Line) Underground Stations
Air
London Heathrow, London Gatwick and London City Airports
Situation

The property is located on the south side of the busy Old Kent Road (A2), a major arterial route through South East London, at its junction with Albany Road (B204) and directly opposite the substantial and attractive Burgess Park, Tesco Superstore and the Southernwood Retail Park. The property further benefits from being approximately 1 mile south-east of Elephant and Castle, which is currently undergoing a £3 billion regeneration project including the creation of a new pedestrianised town centre, a market square, 5,000 new homes, new retail, educational and leisure space, an integrated public transport hub and new green space. (Source: www.elephantandcastletowncentre.co.uk). Neighbouring occupiers include Tesco, Argos, DFS and Sports Direct.

Tenure

Freehold.

Description

The property comprises restaurant and public house accommodation on the ground floor with ancillary accommodation in the basement. The upper parts comprise self-contained residential accommodation configured as a 4 room, 3 bathroom flat with a large roof terrace and a studio flat on the first floor, a 5 room flat on the second floor and a 3 room flat on the third floor. There is an advertising hoarding on the property.

VAT

VAT is not applicable to this lot.

Planning

We understand that the property is not listed and is not within a conservation area, but is registered as an asset of community value until 22/06/2020. The property may be suitable for future residential redevelopment of the upper parts, subject to necessary consents.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises restaurant and public house accommodation on the ground floor with ancillary accommodation in the basement. The upper parts comprise self-contained residential accommodation configured as a 4 room, 3 bathroom flat with a large roof terrace and a studio flat on the first floor, a 5 room flat on the second floor and a 3 room flat on the third floor. There is an advertising hoarding on the property.

VAT

VAT is not applicable to this lot.

Planning

We understand that the property is not listed and is not within a conservation area, but is registered as an asset of community value until 22/06/2020. The property may be suitable for future residential redevelopment of the upper parts, subject to necessary consents.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
(Approx) (4)
Tenant Term Rent p.a.x Review
Ground
Basement
Restaurant/Public House
Ancillary
216.69 sq m
140.90 sq m
(2,332 sq ft)
(1,517 sq ft)
ROCK ISLAND
FOOD & LEISURE
LIMITED
15 years from
30/03/2017
£55,000 (1) 09/01/2019
and 3 yearly
First


Roof Terrace
Second

Third
Residential – 4 room/
3 bathroom flat & studio
flat

Residential – 5 room flat
Residential – 3 room flat
129.39 sq m


42.61 sq m
129.39 sq m
87.85 sq m
(1,393 sq ft)


(459 sq ft)
(1,393 sq ft)
(946 sq ft)
11 x Individuals
1 x Vacant
11 separate
Assured
Shorthold
Tenancy
Agreements
£75,300 (2)  

Advertising Hoarding
CLEAR CHANNEL
UK LIMITED
5 years from
2016 (3)
£3,500  
Totals  
746.83 sq m
(8,039 sq ft)
    £133,800 rising to
£138,800 in January 2019
 

(1) As to the commercial lease, the lease provides for a fixed increase in rent to £60,000 per annum exclusive on 09/01/2019.
(2) As to the residential element of the property, there are 11 individual Assured Shorthold Tenancy Agreements producing a total annualised rent of £75,300 per annum exclusive.
(3) As to the advertising hoarding, there is a 5 year agreement subject to a mutual option to determine the Agreement on 12 months’ notice. The landlord has served a notice to determine the agreement and is agreeing a new Licence with Inschool Media Limited for a term of 5 years from 01/07/2017 at an annual rent of £3,600.
(4) The floor areas stated above are Gross Internal Areas. The third floor has been measured at a height of 1.5m to exclude the floor area with reduced headroom.

Property Documents

  • Site Plan
    Updated Date
    29.10.19
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Cavendish Legal Group 8 Middle lane, Crouch End
London
N8 8PL
Eric Charnley 0208 509 6800e.charnley@clglaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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