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
    05/Dec/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
Important Property Update
  • 263 and 265 London Road<br>Mitcham<br>London<br>CR4 3NH
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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.

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

FloorUse
Floor Areas (Approx)
TenantTermRent p.a.xReview
GroundRetail/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)
£50,00008/10/2019
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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    22.11.18
    File Size
    14 MB
    Login to View
  • Site Plan
    Updated Date
    13.11.18
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    13.11.18
    File Size
    785 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
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
Asserson Law Office 38 Wigmore Street
London
W1U 2RU
Malcolm Adler 0203 150 1300malcolm.adler@asserson.co.uk

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