263 and 265 London Road Mitcham London CR4 3NH

263 and 265 London Road
Mitcham
London
CR4 3NH

Freehold Retail (and Residential Ground Rent) Investment

Predominantly let to British Heart Foundation (t/a British Heart Foundation Furniture & Electrical)
Recently extended lease expiring October 2027 (subject to option)
No concessions or incentives offered to tenant for lease extension
British Heart Foundation in occupation for over 15 years
Double-fronted shop comprises approximately 4,211 sq ft
Prominent position in popular South London suburb

Lot
39
Auction
5th December 2018
Rent
£50,000 per Annum
Status
Sold Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Trustees of a Charity

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Freehold Retail (and Residential Ground Rent) Investment

Predominantly let to British Heart Foundation (t/a British Heart Foundation Furniture & Electrical)
Recently extended lease expiring October 2027 (subject to option)
No concessions or incentives offered to tenant for lease extension
British Heart Foundation in occupation for over 15 years
Double-fronted shop comprises approximately 4,211 sq ft
Prominent position in popular South London suburb

Lot 39
Auction 5th December 2018
Rent £50,000 per Annum
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Trustees of a Charity

Property Information

Location

Miles: 3 miles south-east of Wimbledon, 3 miles north of Croydon, 7 miles south of central London
Roads: A23, A217 and A232
Rail: Colliers Wood Underground Station (Northern Line); Mitcham Eastfields Railway Station
Air: London Heathrow Airport

Situation

Mitcham is a densely populated South London suburb, lying some 7 miles south of Central London. The property is prominently situated on the south-eastern side of London Road, south of its junction with Langdale Avenue. Other occupiers within Mitcham include Morrisons and Lidl supermarkets, Boots the Chemist, Poundstretcher and Iceland, with Greggs and KFC being located nearby.

Tenure

Freehold.

Location

Miles: 3 miles south-east of Wimbledon, 3 miles north of Croydon, 7 miles south of central London
Roads: A23, A217 and A232
Rail: Colliers Wood Underground Station (Northern Line); Mitcham Eastfields Railway Station
Air: London Heathrow Airport

Situation

Tenure

Freehold.

Description

The property comprises a double-fronted ground floor shop with twelve residential flats above, let on a long lease. The property benefits from a loading bay to the rear.

VAT

VAT is not applicable to this lot.

EPC

EPC Rating Band B. See legal pack at acuitus.co.uk

Description

The property comprises a double-fronted ground floor shop with twelve residential flats above, let on a long lease. The property benefits from a loading bay to the rear.

VAT

VAT is not applicable to this lot.

EPC

EPC Rating Band B. See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground	Retail/Ancillary Loading Bay	385.20 sq m 19.30 sq m	(4,146 sq ft) (208 sq ft)	BRITISH HEART FOUNDATION (1)	23 years from 08/10/2004 until 07/10/2027 (2)	£50,000	08/10/2019 08/10/2024
First/Second/ Third/Fourth	Residential - 12 flats	-	(-)	CLARION HOUSING ASSOCIATION LIMITED	125 years from 01/01/2003	Peppercorn	-
Total Commercial Area		404.50 sq m	(4,354 sq ft)			£50,000

(1) British Heart Foundation operates from 727 shops across the UK and generated £27.7 million in profit by collecting, sorting and selling around 73,000 tons of goods over the last year (Source: www.bhf.org.uk 29/10/2018).
(2) British Heart Foundation occupies the property by way of a lease from 8th October 2004 until 7th October 2019. A reversionary lease, dated 7th July 2017 was signed extending the lease for a term of 8 years from 8th October 2019, expiring on 7th October 2027 with a tenant option to determine on 8th October 2024 and rent reviews on 8th October 2019 and 8th October 2024.