257 - 265 Southwark Park Road London SE16 3TP

257 - 265 Southwark Park Road
London
SE16 3TP

Freehold Retail and Residential Investment

  • Substantial corner building including
  • 2 retail units and 14 self contained flats
  • Tenants trading as Nisa Local and Paddy Power
  • Situated approximately 1 mile south of The City of London
  • Further development potential to add an additional floor (Subject to Consents)
  • Lot
    10
  • Auction
    5th May 2021
  • Rent
    £297,820 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail and Residential Investment

  • Substantial corner building including
  • 2 retail units and 14 self contained flats
  • Tenants trading as Nisa Local and Paddy Power
  • Situated approximately 1 mile south of The City of London
  • Further development potential to add an additional floor (Subject to Consents)
  • Lot 10
  • Auction 5th May 2021
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
1 mile south east of Tower Bridge
1.2 miles south east of the City of London
2.5 miles south west of London Docklands and Canary Wharf
1.5 miles south east of London Bridge
Roads
A2206, A2, A20, A205 South Circular Road.
Rail
Bermonsey Underground Station,
Surrey Quays Overground Station.
Air
London City Airport,
London Heathrow Airport
Situation

The property is situated on the north side of South Park Road in front of a major newly constructed 7 storey residential building. Bermonsey benefits from being approximately 1 mile equidistant between Tower Bridge and the City of London and the regenerated fashionable and affluent Surrey Quays.

Tenure

Freehold.

Location
Miles
1 mile south east of Tower Bridge
1.2 miles south east of the City of London
2.5 miles south west of London Docklands and Canary Wharf
1.5 miles south east of London Bridge
Roads
A2206, A2, A20, A205 South Circular Road.
Rail
Bermonsey Underground Station,
Surrey Quays Overground Station.
Air
London City Airport,
London Heathrow Airport
Situation

The property is situated on the north side of South Park Road in front of a major newly constructed 7 storey residential building. Bermonsey benefits from being approximately 1 mile equidistant between Tower Bridge and the City of London and the regenerated fashionable and affluent Surrey Quays.

Tenure

Freehold.

Description

The property a substantial corner building comprises two retail units on the ground floor and 14 self contained residential flats (10 x 2 bedroom and 4 x 1 bedroom) on the upper three upper floors. The property may benefits from further residential development with the construction of an additional floor (subject to consents).

VAT

VAT is not applicable to this lot.

Planning

The property may be suitable for the developement of an additional floor to create additional flats, subject to consents

Completion Period

Six Week Completion

EPC

See legal pack.

Description

The property a substantial corner building comprises two retail units on the ground floor and 14 self contained residential flats (10 x 2 bedroom and 4 x 1 bedroom) on the upper three upper floors. The property may benefits from further residential development with the construction of an additional floor (subject to consents).

VAT

VAT is not applicable to this lot.

Planning

The property may be suitable for the developement of an additional floor to create additional flats, subject to consents

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
(Approx)
Tenant Term Rent p.a.x Reviews/
(Reversion)
Ground Convenience
Store
110.60 sq m
(1,190 sq ft)
SUNSTAR
SUPERMARKETS
LIMITED (CRN 05863736)
t/a Nisa Local (1)
20 years from
07/03/2021 until
2041 (2)
£35,000 07/03/2026
and 5 yearly
(06/03/2041)
Ground Retail
165.65 sq m
(1,783 sq ft)
POWER LEISURE
BOOKMAKERS LIMITED
(CRN 03822566) (3)
15 years from
27/03/2007
£27,500 (26/03/2022)
First to
Third
14 Flats
10 X 2 Bedroom
and 4 x 1 Bedroom
INDIVIDUALS 14 separate Assured
Shorthold Tenancy
Agreements
£235,320  
Total Commercial
Floor Area
276.25 sq m
(2,973 sq ft)
    £297,820  

(1) Nisa is a £1.45 billion turnover company which exists to provide benefits to approx. 1,400 partners, operating almost 4,000 stores. (Source: www.nisalocally.co.uk/the-nisa-story/)
(2) As to the lease to Sunstar Supermarkets Limited, the lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954.
(3) For the year ending 31st December 2019, Power Leisure Bookmakers Limited reported a turnover of £745,565,471, a pre-tax profit of £93,404,662 and shareholder funds of £198,324,531 (Source: NorthRow 13/04/2021).
(4) As to the residential flats the rents shown have been annualised.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Catalogue Page
    Updated Date
    16.04.21
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    16.04.21
    File Size
    405 KB
    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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Protopapas LLP Queens House, 180 Tottenham Court Road
London
W1T 7PD
Austin Weinberg 020 7636 2100Austin.Weinberg@protopapas.co.uk

Useful Links

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

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