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
    05/May/2021
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £655,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 1 - 3 East Street<br>Walworth<br>London<br>SE17 2DJ
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  • Photos
  • Map

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

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.

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

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
GroundRetail
78.97 sq m
(850 sq ft)
M. ASIF & R.
VAHORA
20 years from
21/08/2020 until
21/08/2040 (1)
£40,00021/08/2030
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 £1,000 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
    20.04.21
    File Size
    23 MB
    Login to View
  • Site Plan
    Updated Date
    16.04.21
    File Size
    868 KB
    View PDF
  • Catalogue Page
    Updated Date
    16.04.21
    File Size
    843 KB
    View PDF
  • Common Auction conditions
    Updated Date
    16.03.21
    File Size
    687 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
Ezran Law Churchill House, 120 Bunns Ln, Mill Hill
London
NW7 2AS
Jonathan Zeckler 020 3114 2100info@ezranlaw.co.uk

Useful Links

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