1 - 3 East Street Walworth London SE17 2DJ

1 - 3 East Street
Walworth
London
SE17 2DJ

Recently Let Retail Investment in one of London's Largest and Busiest Markets

New 20 year lease from August 2020 (subject to option)
Busy and bustling market location close to market entrance from Walworth Road
Nearby occupiers include Morrisons, Greggs, Costa and various independent shops, cafe's and restaurants
VAT-free London Investment

Lot
3
Auction
5th May 2021
Rent
£40,000 per Annum Exclusive
Status
Sold
Price
£655,000
Auction Venue
Live Streamed Auction

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Recently Let Retail Investment in one of London's Largest and Busiest Markets

New 20 year lease from August 2020 (subject to option)
Busy and bustling market location close to market entrance from Walworth Road
Nearby occupiers include Morrisons, Greggs, Costa and various independent shops, cafe's and restaurants
VAT-free London Investment

Lot 3
Auction 5th May 2021
Rent £40,000 per Annum Exclusive
Status Sold
Price £655,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 2 miles south-east of Central London; 1 miles north of Burgess Park
Roads: A2, A3
Rail: Elephant & Castle (Northern & Bakerloo Lines), Kennington (Northern Line)
Air: London City

Situation

East Street is a popular and bustling street, in the London Borough of Southwark, running between Walworth Road and Old Kent Road. The property is located on the north side of East Street, in a highly prominent position at the entrance to East Street Market. East Street Market is one of London's oldest, largest and busiest markets and offers a wide a variety of goods, from fresh fruit and vegetables to African clothing and materials. Nearby occupiers include Morrisons, JD Sports, Greggs, Costa and various independent shops, cafe's and restaurants.

Tenure

Long Leasehold. 999 years from completion of the sale at a peppercorn rent.

Location

Miles: 2 miles south-east of Central London; 1 miles north of Burgess Park
Roads: A2, A3
Rail: Elephant & Castle (Northern & Bakerloo Lines), Kennington (Northern Line)
Air: London City

Situation

Tenure

Long Leasehold. 999 years from completion of the sale at a peppercorn rent.

Description

The property comprises a ground floor shop, forming part only of a larger building, not included within the sale.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

D. See legal pack at www.acuitus.co.uk.

Description

The property comprises a ground floor shop, forming part only of a larger building, not included within the sale.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

D. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground	Retail	78.97 sq m	(850 sq ft)	M. ASIF & R. VAHORA	20 years from 21/08/2020 until 21/08/2040 (1)	£40,000	21/08/2030
Total		78.97 sq m	(850 sq ft)			£40,000

(1) The lease is subject to a tenant option to determine on 21/08/2030.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.