164 High Street, Lewisham London SE13 6JL

164 High Street, Lewisham
London
SE13 6JL

Freehold Retail Investment

  • First time on the market for approximately 50 years
  • Entirely let to Iceland Foods Limited (Holding Over)
  • Proposed 10 year lease at a rent of £197,500 p.a.x. (2)
  • Approximately 8,523 sq ft
  • Adjoins Lewisham Shopping Centre to the rear
  • Nearby occupiers include Marks & Spencer, Boots the Chemist, Primark and TK Maxx
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    31
  • Auction
    25th May 2017
  • Rent
    £147,750 per Annum Exclusive
  • Status
    Sold
  • Price
    £2,900,000
  • Sector
    High Street Retail
  • 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 Retail Investment

  • First time on the market for approximately 50 years
  • Entirely let to Iceland Foods Limited (Holding Over)
  • Proposed 10 year lease at a rent of £197,500 p.a.x. (2)
  • Approximately 8,523 sq ft
  • Adjoins Lewisham Shopping Centre to the rear
  • Nearby occupiers include Marks & Spencer, Boots the Chemist, Primark and TK Maxx
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 31
  • Auction 25th May 2017
  • Rent
  • Status Sold
  • Price £2,900,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
1.5 miles south of Greenwich, 2 miles west of Blackheath Village, 6 miles south-east of the City of London
Roads
A20, A21
Rail
Lewisham Railway Station (DLR & National Rail)
Air
London City Airport
Situation

The property is located on the western side of the pedestrianised section of High Street, adjoining Lewisham Shopping Centre to the rear. Lewisham Shopping Centre houses retailers including Marks & Spencer, Sainsbury's Supermarket, Boots the Chemist, Primark, TK Maxx, H&M and Argos, with other nearby occupiers including Gap, Superdrug and McDonald's. Lewisham Shopping Centre's multi-storey car park provides car parking for over 800 cars.

Tenure

Freehold.

Location
Miles
1.5 miles south of Greenwich, 2 miles west of Blackheath Village, 6 miles south-east of the City of London
Roads
A20, A21
Rail
Lewisham Railway Station (DLR & National Rail)
Air
London City Airport
Situation

The property is located on the western side of the pedestrianised section of High Street, adjoining Lewisham Shopping Centre to the rear. Lewisham Shopping Centre houses retailers including Marks & Spencer, Sainsbury's Supermarket, Boots the Chemist, Primark, TK Maxx, H&M and Argos, with other nearby occupiers including Gap, Superdrug and McDonald's. Lewisham Shopping Centre's multi-storey car park provides car parking for over 800 cars.

Tenure

Freehold.

Description

The property comprises a large ground floor shop with ancillary accommodation on the first and second floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a large ground floor shop with ancillary accommodation on the first and second floors.

VAT

VAT is not applicable to this lot.

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)

Tenant Term Rent p.a.x
Ground
First
Second

Retail
Ancillary
Ancillary
396.32 sq m
225.57 sq m
169.92 sq m
(4,266 sq ft)
(2,428 sq ft)
(1,829 sq ft)
ICELAND FOODS
LIMITED (1)

10 years from 24/06/2006 until 23/06/2016 (2) on a
full repairing and insuring
lease
£147,750
Totals  
791.81 sq m
(8,523 sq ft)
    £147,750

(1) For the year ending 25th March 2016, Iceland Foods Limited reported a turnover of £2,658,332,000, pre-tax profits of £58,172,000 and a total net worth of £740,354,000 (Source: Experian Group 10/04/2017).
(2) The tenant served a Section 26 request on the vendor dated 17th December 2015 requesting a new 5 year lease at a rent of £110,000 per annum. The vendor served an Acknowledgement of Service on the tenant dated 6th September 2016 proposing a new 10 year lease at a rent of £197,500 per annum. Further negotiations have ensued in respect of a new lease - please see legal pack for further details.
NB: The tenant currently benefits from a licence with the owners of Lewisham Shopping Centre to use part of the Shopping Centre service area to the rear. A licence fee is paid by Iceland to the owners of Lewisham Shopping Centre.

Property Documents

  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    29.10.19
    File Size
    3 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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate AuctioneersAndrew Hoffbrand 0207 908 7033andrew@hrh.uk.com
Seller's Solicitors
Brecher LLP 4th Floor, 64 North Row
London
W1K 7DA
Dominic Whelan 020 7563 1593dwhelan@brecher.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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