93 / 95 High Street and Clifton Cottages
Eltham
London
SE9 1TD

Prime Freehold Retail and Residential Investment

  • Fully let investment comprising two shops, five flats and rear storage land in Eltham town centre
  • Shops trading as Boots Opticians and Wimpy (by way of recent lease renewals)
  • 10 year lease renewal (subject to option) from February 2019 to Boots Opticians
  • 20 year lease renewal (no breaks) from December 2018 to tenant trading as Wimpy
  • Separately let rear storage area (with development potential, subject to planning)
  • Five flats (2 x one bedroom, 1 x 2 bedroom and 2 x 3 bedroom) above and to the rear, all let on ASTs
  • Potential advertising opportunity on flank wall (subject to consents)
  • Nearby occupiers include Marks & Spencer, Iceland, TK Maxx, Costa Coffee, KFC, Subway, McDonald’s, Superdrug, Boots the Chemist and WHSmith
  • Lot
    9
  • Auction
    04/Apr/2019
  • Rent
    £138,020 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,900,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Auction & Property Update
  • 93 / 95 High Street and Clifton Cottages<br>Eltham<br>London<br>SE9 1TD
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* More information on the term "price" can be found here

Property Information

Location
Miles
4 miles south-east of Greenwich and Blackheath
8 miles west of Dartford
10 miles south-east of Central London
Roads
A2, A20, A205
Rail
Eltham Train Station
Air
London City Airport
Situation

Eltham is a popular suburb of South East London within the Royal Borough of Greenwich, 10 miles south-east of Central London. The property is located in a prime location on the northern side of Eltham High Street, opposite Passey Place, less than half a mile from Eltham Station. Nearby occupiers include Marks & Spencer, Iceland, TK Maxx, Costa Coffee, KFC, Subway, McDonald’s, Superdrug, Boots the Chemist, WHSmith and various banks. A new Vue Cinema complex at 168-176 High Street is due to open imminently, to include a Pizza Express and a Nando's.

Tenure

Freehold.

Description

The property comprises two shops arranged on the ground and second floors with a self-contained maisonette arranged on the first floor. To the rear of the property, there is a large yard for storage and four flats, known as Clifton Cottages.

VAT

VAT is not 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

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
93GroundRetail/Ancillary
71.99 sq m
(775 sq ft)BOOTS
OPTICIANS
PROFESSIONAL
SERVICES
LIMITED (1)
10 years from
04/02/2019
until
03/02/2029
(2)
£23,50004/02/2024
95/95aGround
Second
Retail
Ancillary
107.20 sq m
81.29 sq m
(1,154 sq ft)
(875 sq ft)
INDIVIDUALS
t/a Wimpy
20 years from
25/12/2018
until
24/12/2038
£50,00025/12/2023
and 5
yearly
thereafter
95bFirstResidential
3 bedroom flat
 INDIVIDUALAST from
27/09/2018
£12,000 
 YardStorage Land
339.15 sq m
(3,651 sq ft)
AXIS
DUCTWORK
LIMITED (3)
10 years from
29/06/2018
until
28/06/2028
(4)
£7,800 (5)28/06/2023
(5)
Flat 1, Clifton
Cottages
RearResidential
2 bedroom flat
 INDIVIDUALSAST from
27/08/2018
£12,840 
Flat 2, Clifton
Cottages
RearResidential
1 bedroom flat
 INDIVIDUALAST from
19/11/2018
£9,840 
Flat 3, Clifton
Cottages
RearResidential
1 bedroom flat
 INDIVIDUALSAST from
23/08/2018
£8,520 
Flat 4, Clifton
Cottages
RearResidential
3 bedroom flat
INDIVIDUALSAST from
04/03/2019
£13,520 
Total
Commercial
Area
599.67 sq m
(6,455 sq ft)
  £138,020 

(1) For the year ending 31st August 2017, Boots Opticians Professional Services Limited reported a turnover of £368,959,000, pre-tax profits of £26,250,000 and a total net worth of £77,563,000 (Source: Experian Group 26/02/2019).
(2) The lease provides for a tenant option to determine on 4th February 2024.
(3) Axis Ductwork is involved in construction installation and for the year ending 30th June 2017 reported a total net worth of £752,826. A rent deposit of £3,900 is held by the Seller.
(4) The lease is drawn outside the provisions of the 1954 Landlord & Tenant Act and provides for a mutual option to determine on 28th June 2023.
(5) Rent rises to £9,500 per annum in June 2023.

Property Documents

  • Catalogue Page
    Updated Date
    10.04.19
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    10.04.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 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 GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Hamlins Roxburghe House273-287 Regent Street
London
W1B 2AD
Mark Hurst +44 (0)20 7355 6024mark.hurst@hamlins.com

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