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

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
    4th April 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 Update
  • Expand
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* More information on the term "guide" can be found here

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 4th April 2019
  • Rent
  • Status Sold
  • Price £1,900,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

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.

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.

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

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
93 Ground Retail/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)
£23,500 04/02/2024
95/95a Ground
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
£50,000 25/12/2023
and 5
yearly
thereafter
95b First Residential
3 bedroom flat
  INDIVIDUAL AST from
27/09/2018
£12,000  
  Yard Storage 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
Rear Residential
2 bedroom flat
  INDIVIDUALS AST from
27/08/2018
£12,840  
Flat 2, Clifton
Cottages
Rear Residential
1 bedroom flat
  INDIVIDUAL AST from
19/11/2018
£9,840  
Flat 3, Clifton
Cottages
Rear Residential
1 bedroom flat
  INDIVIDUALS AST from
23/08/2018
£8,520  
Flat 4, Clifton
Cottages
Rear Residential
3 bedroom flat
INDIVIDUALS AST 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
    10.06.21
    File Size
    168 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
Seller's Solicitors
Hamlins Roxburghe House273-287 Regent Street
London
W1B 2AD
Mark Hurst +44 (0)20 7355 6024mark.hurst@hamlins.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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