63 St Giles High Street Covent Garden London WC2H 8LE

63 St Giles High Street
Covent Garden
London
WC2H 8LE

Freehold Retail and Residential Investment

  • Ground and Basement let to Break Point Limited (t/a The Convenience Store)
  • Two residential flats on upper floors let on 99 year leases with fixed ground rent increases
  • Prime Central London location opposite the £450m Central St Giles mixed use development
  • Approximately 50 metres from Shaftesbury Avenue and within walking distance of Covent Garden
  • Legal Title Report <a href="/media/32026/legal title report v4.pdf" target="_blank" title="Legal Title Report V4">here</a>
  • Lot
    1
  • Auction
    11th December 2014
  • Rent
    £30,200 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,210,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On the instructions of A Major Fund
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail and Residential Investment

  • Ground and Basement let to Break Point Limited (t/a The Convenience Store)
  • Two residential flats on upper floors let on 99 year leases with fixed ground rent increases
  • Prime Central London location opposite the £450m Central St Giles mixed use development
  • Approximately 50 metres from Shaftesbury Avenue and within walking distance of Covent Garden
  • Legal Title Report <a href="/media/32026/legal title report v4.pdf" target="_blank" title="Legal Title Report V4">here</a>
  • Lot 1
  • Auction 11th December 2014
  • Rent
  • Status Sold
  • Price £1,210,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On the instructions of A Major Fund

Property Information

Location
Metres
650 metres north of Covent Garden, 650 metres north of Leicester Square
Roads
A40, A400
Rail
Tottenham Court Road (Central and Northern Line)
Air
London City Airport
Situation

The property is situated in a busy location in Central London on the south side of St Giles High Street, approximately 50 metres from Shaftesbury Avenue and within a short walk of Covent Garden and Tottenham Court Road Tube Station.
Central St Giles mixed use development is located opposite the property offering retailers such as Byron, Zizzi, Cabana, Peyton & Byrne and POD.

Tenure

Freehold.

Location
Metres
650 metres north of Covent Garden, 650 metres north of Leicester Square
Roads
A40, A400
Rail
Tottenham Court Road (Central and Northern Line)
Air
London City Airport
Situation

The property is situated in a busy location in Central London on the south side of St Giles High Street, approximately 50 metres from Shaftesbury Avenue and within a short walk of Covent Garden and Tottenham Court Road Tube Station.
Central St Giles mixed use development is located opposite the property offering retailers such as Byron, Zizzi, Cabana, Peyton & Byrne and POD.

Tenure

Freehold.

Description

The property comprises a convenience store with basement and two self-contained residential flats on the upper floors, accessed from St Giles High Street.

Legal Title 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 a convenience store with basement and two self-contained residential flats on the upper floors, accessed from St Giles High Street.

Legal Title 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 Reviews
Ground
Basement
Retail
Office/Storage
44.54 sq m
27.90 sq m
(479 sq ft)
(300 sq ft)
BREAK POINT
LIMITED t/a The
Convenience Store (1)
10 years from
04/12/2009 until
03/12/2019
£30,000 04/12/2014 (2)
First and
Second
Residential –
Flat A
Not measured
INDIVIDUAL 189 years from
24/06/1983 until
23/06/2172 (3)
£100 Fixed uplifts
every 25 years
Third and
Fourth
Residential –
Flat B
Not measured
INDIVIDUAL 99 years from
24/06/1983 until
23/06/2082
£100 Fixed uplifts
every 25 years
Total Commercial Floor Area 72.44 sq m (779 sq ft)     £30,200

(1) Break Point Limited operates four convenience stores throughout Central London (Source: www.breakpointltd.co.uk 30/10/2014).
(2)As to the imminent rent review, notice has been served proposing a new rent of £50,000 pa.
(3)The residential lease of Flat A is for a term of 99 years from 24/06/1983 expiring 2082. There is a reversionary lease in place for a term of 90 years from expiry of the current lease until 23/06/2172.

Property Documents

  • Catalogue Page
    Updated Date
    18.11.14
    File Size
    1 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
Henry WilkinsonHenry Wilkinson +44 (0)20 7034 4861 Henry.wilkinson@acuitus.co.uk
Seller's Solicitors
Olswang LLP 90 High Holborn
London
WC1V 6XX
Adam Burrage 020 7067 3655adam.burrage@olswang.com

Useful Links

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

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