303 - 311 Lavender Hill
Clapham
London
SW11 1LN

Substantial Freehold Retail Parade and Residential Investment

  • Let to Fresh and Wild Ltd (owned by Amazon.com Inc) and guaranteed by Whole Food Market Inc until 2030 (no breaks)
  • Tenant options to extend until 2040
  • Popular and fashionable South West London suburb
  • 150 metres from Clapham Junction Station
  • Neighbouring occupiers include Topshop, Oasis, TK Maxx, Joe & the Juice, KFC, Pizza Express, HSBC, Miss Selfridge and Dorothy Perkins
  • Rent rising to £248,000 in 2025 (2)(3)
  • Lot
    24
  • Auction
    23/May/2019
  • Rent
    £229,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £3,400,000
  • Sector
    Supermarket
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
Important Auction & Property Update
  • 303 - 311 Lavender Hill<br>Clapham<br>London<br>SW11 1LN
  • Expand
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  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
3 miles south-west of Central London
600 metres to Clapham Common
1 mile south of Battersea Park
Roads
A3, A3220, A3205
Rail
Clapham Junction
Air
London City, London Heathrow and
London Gatwick Airport
Situation

Clapham is a popular and fashionable South West London suburb. The property is prominently situated on the south side of the busy Lavender Hill (A3036), 150 metres from Clapham Junction Station. Neighbouring occupiers include Topshop, Oasis, TK Maxx, Joe & the Juice, KFC, Pizza Express, HSBC, Miss Selfridge and Dorothy Perkins.

Tenure

Freehold.

Description

The property comprises a substantial parade of five multi storey mid-terrace mixed use buildings with an extensive fronted retail unit on ground floor and ancillary accommodation in the basement and part of the first floor. The retail tenant has recently completed a major refurbishment programme. The upper three floors comprise 17 self-contained residential flats.

VAT

VAT is applicable to this lot.

Note

The seller has served notice pursuant to section 5B of the Landlord & Tenant Act 1987. The qualifying tenants of the residential flats had a prescribed period until midnight on 18th March 2019 to accept the notice. The Seller has received no acceptances and therefore the residential tenants cannot exercise their rights of pre-emption on this sale.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
305-311Ground
First
Basement
Retail
Ancillary
Ancillary
462.59 sq m
22.41 sq m
35.64 sq m
(4,979 sq ft)
(241 sq ft)
(383 sq ft)
FRESH &
WILD LIMITED
guaranteed by
Whole Food
Market Inc (1)
10.5 years from
02/01/2019 until
01/06/2030 (3) on a
full repairing and
insuring lease with
tenant options to
extend to 2040 (3)
£188,000 (2)Fixed rent
review
rising to
£205,000
on
02/06/2025
303Ground
First
Retail
Ancillary
77.21 sq m
26.65 sq m
(831 sq ft)
(287 sq ft)
FRESH &
WILD LIMITED
guaranteed by
Whole Food
Market Inc (1)
10.5 years from
02/01/2019 until
01/06/2030 (3) on a
full repairing and
insuring lease with
tenant options to
extend to 2040 (3)
£41,000 (2)Fixed rent
review
rising to
£43,000 on
02/06/2025
303-311Upper
floors
Residential
INDIVIDUALS17 individual leases
from 25/12/1999.
14 for a term of 250
years and 3 for a term
of 99 years at a total
of £475
Peppercorn x
14
£475
 
TotalCommercial
624.50 sq m
(6,721 sq ft)
  £229,475 rising
to £248,475 in
2025 (2) (3)
 

(1) Fresh and Wild Limited (CRN 3576009) is ultimately owned by Amazon.com Inc and guaranteed by Whole Food Market Inc
(Inc in USA). For the year ending 31st December 2017, Fresh & Wild Limited reported a turnover of £148,496,000, a pre-tax loss of £8,628,000 and a total net worth of £40,772,000 (Source: Experian Group 22/02/2019).
(2) Under the terms of the leases, the current rents reserved are £168,500 p.a.x. for 305-311 and £38,800 p.a.x. for 303. The leases provide for fixed increases in the rents to £188,000 p.a.x. for 305-311 and £41,000 p.a.x. for 303 on 1st June 2020 and to £205,000 p.a.x. for 305-311 and £43,000 p.a.x. for 303 on 1st June 2025. The Seller will pay the buyer the difference between the total current rent reseved of £207,000 p.a.x. and £229,000 p.a.x. from completion of the sale until 1st June 2020. Therefore, the property will produce £229,000 from completion of the sale.
(3) Each commercial lease provides for a tenant option to extend the leases until 2035 and then until 2040.

Property Documents

  • Catalogue Page
    Updated Date
    01.05.19
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    01.05.19
    File Size
    4 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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Associate Auctioneers
Leslie Perkins 1st Floor, 65 Margaret Street
London
W1W 8SP
Ian Garnham 020 7478 4306iang@leslieperkins.co.uk
Seller's Solicitors
Knights Plc Midland House West Way Botley
Oxford
OX2 0PH
Richard Goodlad 01865 811 770richard.goodlad@knightsplc.com

Useful Links

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