52-58 (Ground and Part First Floors) Streatham High Road
Streatham
London
SW16 1BZ

Prominent Bank Investment in Popular South West London Suburb

  • Let to National Westminster Bank Plc until, December 2028 (no breaks)
  • Adjacent to Tesco Express and close to Streatham Hill Rail Station
  • Rent Review in 2021 to the higher of Open Market Rental Value or fixed rental increase of 3.75%
  • VAT-free bank investment in popular South West London suburb
  • Lot
    2
  • Auction
    07/Dec/2017
  • Rent
    £50,000 per Annum
  • Status
    Sold
  • Price*
    £1,040,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 11 years (No Breaks) to Natwest Bank
Important Property Update
  • 52-58 (Ground and Part First Floors) Streatham High Road<br>Streatham<br>London<br>SW16 1BZ
  • Expand
  • Photos
  • Map

Property Information

Location
Miles
2 miles south of Brixton, 3 miles south-west of Dulwich Village, 10 miles south-west of Central London
Roads
A23 (Streatham High Road), South Circular Road
Rail
Streatham Hill Station, Balham and Tooting Bec Underground Stations
Air
London Heathrow & London Gatwick Airports
Situation

The property is prominently situated on the western side of Streatham High Road, close to its junction with Broadlands Avenue and approximately 150 metres from Streatham Hill Station. Nearby occupiers include the adjoining Tesco Express, with Boots the Chemist, Sainsbury's Local, WHSmith, Caffè Nero and branches of Nationwide and Halifax banks also represented on Streatham High Road.

Tenure

Virtual Freehold. Virtual Freehold for a term of 999 years from and including 11th December 2017.

Description

The property comprises a double-fronted ground floor bank with self-contained ancillary accommodation on part of the first floor, forming part of a larger building.

VAT

VAT is not applicable to this lot.

Completion Period

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 advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground

Part First
Banking Hall/
Ancillary
Ancillary
249.72 sq m

120.12 sq m
(2,688 sq ft)

(1,293 sq ft)
NATIONAL
WESTMINSTER
BANK PLC (1)
t/a NatWest
22 years less a day
from 13/12/2006 until
11/12/2028 on an
effectively fully
repairing and
insuring lease
£50,00011/12/2021
and
11/12/2026
(2)
Totals
369.84 sq m
(3,981 sq ft)
  £50,000 

(1) National Westminster Bank Plc operate from over 1,400 branches throughout the UK and are a wholly owned subsidiary of Royal Bank of Scotland Plc. Royal Bank of Scotland Plc have a market capitalisation of £31bn and are 72.9% owned by HM Government (Source: www.investors.rbs.com 30/10/2017).
(2) The rent is reviewed in 2021 to the higher of Open Market Value or a fixed rental increase of 3.75%. The 2026 rent review is reviewed to OMV.

NB: The seller has served a notice on the residential tenants of the upper parts, pursuant to Section 5B of the Landlord and Tenant Act 1987 and no Acceptance Notices have been received from the tenants.

Property Documents

  • Catalogue Page
    Updated Date
    14.11.17
    File Size
    811 KB
    View PDF
  • Site Plan
    Updated Date
    14.11.17
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 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
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Seller's Solicitors
Fladgate LLP 16 Great Queen Street
London
WC2B 5DG
Richard Kaufman 0203 036 7000rkaufman@fladgate.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
Availability of finance is of utmost importance to many of our clients
How can Acuitus Finance help you?Finance