Spitalfields Day Nursery and Pre-School
21 Lamb Street, Spitalfields
London
E1 6EA

Central London Nursery Investment

  • Let to Bright Horizons Family Solutions Limited, the UK's leading childcare provider
  • Lease expiries in May 2028 (no breaks)
  • Minimum Rental Increase to £80,000 pax or RPI in June 2023
  • Recently Re-geared Lease
  • Opposite Old Spitalfields Market and close to Shoreditch High Street in vibrant and fashionable London location
  • Nearby occupiers include Allen & Overy, RBS, Amazon and Nuveen
  • Lot
    11
  • Auction
    28/Oct/2020
  • Rent
    £61,352 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    Medical/Healthcare
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • Spitalfields Day Nursery and Pre-School<br>21 Lamb Street, Spitalfields<br>London<br>E1 6EA
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* More information on the term "price" can be found here

Property Information

Location
Miles
0.2 miles south of Shoreditch High Street Station
0.4 miles north-east of Liverpool Street Station
1 mile north-east of the City of London
Roads
A501 (Inner Ring Road), A10, A11 & A13
Rail
Shoreditch High Street, Liverpool Street Station (Central, Circle, Hammersmith & City and Metropolitan Lines as well as overground services)
Air
London City, London Heathrow
Situation

The property is located in Spitalfields, an area of Central London approximately one mile from the City of London, and is famous for its historic markets. The property is located on the north side of Lamb Street, opposite the Old Spitalfields Market and near to Elder Gardens. The property benefits from excellent transport networks and is a short walk to Liverpool Street Station which provides services on the Central, Circle, Hammersmith & City and Metropolitan underground lines, and forthcoming Crossrail (Elizabeth Line), as well as overground services from Liverpool Street and Shoreditch High Street. The property is less than half a mile from Brick Lane Market, with nearby occupiers including Allen & Overy, RBS, Amazon and Nuveen amongst others in the nearby growing Shoreditch tech industry. Nearby retailers and restaurants include All Saints, Dr. Martens, Jigsaw, Nando's, Tesco Express, Office, Lululemon, TAG Heuer, Leon, and a number of independent cafes and restaurants.

Tenure

Long Leasehold. The Seller will grant a new overriding lease for a term of approximately 120 years from the date of the lease until 09/05/2141 at a peppercorn rent.

Description

The property comprises a day nursery/childrens centre arranged on the ground floor only, forming part of a larger building. The property includes a main office/lobby, play area, baby rooms, kitchen and toilets, as well as an outdoor play area. The main entrance is off Lamb Street with separate access onto Commercial Street. The nursery provides for over 50 children.

VAT

VAT is applicable to this lot.

EPC

Band C. Please see legal pack at acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
Ground Day Nursery
Outdoor Play
Area
270.80 sq m
49.98 sq m
(2,915 sq ft)
(538 sq ft)
BRIGHT
HORIZONS FAMILY
SOLUTIONS
LIMITED (1)
15 years from and
including 01/06/2013
until 31/05/2028 on an
EFRI lease
£61,352.80 (rising to the greater of £80,000 or RPI in June 2023)01/06/2023
Total
320.78 sq m
(3,453 sq ft)   £61,352.80 

(1) For the year ending 31st December 2018, Bright Horizons Family Solutions Limited reported a turnover of £195,495,000,
pre-tax profits of £7,441,000 and shareholder's funds of £143,272,000 (source: SmartSearch 14/09/2020).
Bright Horizons Family Solutions is the UK's leading childcare provider, with over 300 community and workplace nurseries across the UK (www.brighthorizons.co.uk).

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    27.10.20
    File Size
    206 MB
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  • Catalogue Page
    Updated Date
    07.10.20
    File Size
    14 MB
    View PDF
  • Site Plan
    Updated Date
    07.10.20
    File Size
    886 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 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
Clifford Chance 10 Upper Bank Street
London
E14 5JJ
Alice Raine 020 7006 4206alice.raine@cliffordchance.com

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