109 - 111 Welling High Street
Welling
Greater London
DA16 1TY

Freehold Retail Investment

  • Let to Boots UK Limited until 2023 (subject to option)
  • Fixed 1.5% annual rental increases
  • Nearby occupiers include Morrisons, Tesco, Poundland and Barclays Bank
  • Residential potential on uppers (subject to consents)
  • Rent: £40,031.45 (subject to note 3)
  • Lot
    27
  • Auction
    18/Oct/2018
  • Rent
    £40,031 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Trustees
  • 109 - 111 Welling High Street<br>Welling<br>Greater London<br>DA16 1TY
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Property Information

Location
Miles
14 miles to London City Centre
Roads
A2, A206, M25 (Junction 2)
Rail
Welling (25 minutes to London Bridge)
Air
London City Airport, Gatwick Airport
Situation

Welling is a popular suburb of London, in the borough of Bexley. The property occupies a prominent position on Welling High Street, close to Tesco Superstore and a Morrisons supermarket. Other nearby occupiers include Poundland, Barclays Bank, Coral and Screwfix.

Tenure

Freehold.

Description

The property comprises a double fronted ground floor retailunit with ancillary accommodation on first floor. There is second floor accommodation at the rear of the property, which is believed to be used for the goods lift machinery and is accessed via a hatch. A NatWest ATM machine is located in the property within the tenant’s demise.

VAT

VAT is 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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground
First
Retail
Ancillary
186.17 sq m
109.25 sq m
(2,004 sq ft)
(1,176 sq ft)
BOOTS UK
LIMITED (1)
10 years from
29/03/2013 (2)
on a full repairing
and insuring lease
£40,031.45
(3)
31/03/2023
Total
295.42 sq m
(3,180 sq ft)  £40,031.45
(3)
 

(1) For the year ending 31st August 2016, Boots UK Limited reported a turnover of £6,876,000,000, pre-tax profits of £523,000,000 and a total net worth of £1,204,000,000 (Source: Experian Group 17/01/2018). Boots is the UK’s leading pharmacy-led health and beauty retailer, with around 2,500 stores in the UK, ranging from local community pharmacies to large destination health and beauty stores. Boots UK is part of the Retail Pharmacy International Division of Walgreens Boots Alliance, Inc, the first global pharmacy-led health and wellbeing enterprise (Source: www.boots-uk.com 17/01/2018).
(2) The lease provides a tenant only option to determine on 31/03/2020.
(3) The lease provides for annual fixed rental increases of 1.5%, the rent will therefore increase to £40,031.45 p.a.x. on 01/04/2019. The seller has agreed to adjust the completion monies to effectively produce £40,031.45 p.a.x from completion of the sale.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    16.10.18
    File Size
    13 MB
    Login to View
  • Site Plan
    Updated Date
    26.09.18
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    26.09.18
    File Size
    678 KB
    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
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Seller's Solicitors
Gowling WLG Two Snowhill
Birmingham
B4 6WR
Nisha Minhas 0121 393 0648Nisha.Minhas@gowlingwlg.com

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