Let to One Stop Stores Limited (owned by Tesco Plc) until 2028 (subject to
option)
Popular South East London Suburb
100 metres from the busy Kings College Hospital
Immediately adjacent to Ruskin Park
Six Week Completion
Lot 3
Auction 27th March 2014
Rent £40,000 per Annum Exclusive
Status Sold
Price £557,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Trustees
Property Information
Location
Miles
3 miles south-east of Central London
Roads
Denmark Hill (A215), South Circular Road (A205), A23
Rail
Denmark Hill Overground Station (Approx 9 mins to London Victoria & 17 mins to London Bridge)
Air
London Heathrow Airport, London City Airport, London Gatwick Airport
Situation
The property is prominently situated on the east side of the busy Denmark Hill (A215) immediately opposite Ruskin Park in the popular south-east London district of Camberwell. Central London is some 3 miles north of Camberwell. The property benefits from being some 100 metres from Kings College London one of London’s largest hospitals.
Tenure
Long Leasehold. Long Leasehold. Held for a term of 125 years from 25th November 2006 until 2131 at £350 per annum exclusive. The rent is to be increased by £100 pax every 25 years.
Location
Miles
3 miles south-east of Central London
Roads
Denmark Hill (A215), South Circular Road (A205), A23
Rail
Denmark Hill Overground Station (Approx 9 mins to London Victoria & 17 mins to London Bridge)
Air
London Heathrow Airport, London City Airport, London Gatwick Airport
Situation
The property is prominently situated on the east side of the busy Denmark Hill (A215) immediately opposite Ruskin Park in the popular south-east London district of Camberwell. Central London is some 3 miles north of Camberwell. The property benefits from being some 100 metres from Kings College London one of London’s largest hospitals.
Tenure
Long Leasehold. Long Leasehold. Held for a term of 125 years from 25th November 2006 until 2131 at £350 per annum exclusive. The rent is to be increased by £100 pax every 25 years.
Description
The property comprises ground floor retail accommodation and forms part of a larger modern residential building.
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 floor retail accommodation and forms part of a larger modern residential building.
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
Ground
Retail
129.02 sq m
(1,389 sq ft)
ONE STOP STORES LIMITED (1)
15 years from 22/07/2013 until 2028 on a full repairing and insuring lease (2)
£40,000
22/07/2023
Totals
129.02 sq m
(1,389 sq ft)
£40,000
(1) One Stop Stores Limited are ultimately owned by Tesco Plc and for the year ending 23rd February 2013 reported a turnover of £719,904,000, pre-tax profits of £37,012,000 and a total net worth of £132,934,000. (Source: www.riskdisk.com 24.02.2014) (2)The lease provides for a tenant option to determine the lease on 22nd July 2023.
