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
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.
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.
