Coop Convenience Store
136 Southwark Bridge Road
London
SE1 0DG

Central London Convenience Store Investment

  • Let to Co Operative Food Group Limited
  • Prominent Convenience Store with Post Office
  • Situated approximately 1/2 mile south of The City of London
  • Rent reviewed in line with the Retail Price Index, Subject to minimum of 1% and a Maximum of 4% per annum compounded
  • Lot
    24
  • Auction
    05/May/2021
  • Rent
    £89,000 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    Supermarket
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees
Important Update
  • Coop Convenience Store, 136 Southwark Bridge Road, London, SE1 0DG
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
City of London less than 1mile
Westminster 1mile
The Shard 950 metres
Roads
A2, A3, A201
Rail
Borough Underground station,
Southwark Underground station,
London Bridge Railway and Underground Station.
Waterloo Railway and Underground Station
Air
London City Airport. London Heathrow
Situation

The property is situated on the west side of the busy Southwark Bridge Road close to its junction with Great Suffolk Street approximately 800m metres south of the popular and fashionable Borough Market. Southwark Bridge Road links the popular Elephant and Castle with the South Bank and the City of London. This district of London has seen a tremendous transformation from a run of mill, non-affluent Central London suburb to a highly fashionable cosmopolitan hub with significant major residential developments with public spaces that are targeted by highly paid young people that work in the City of London.

Tenure

Virtual Freehold. Held from for term of 999 years from 1st January 2008 at a fixed peppercorn rent.

Description

The property comprises a ground floor retail unit with a significant retail frontage. The property forms part of a larger residential building.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C. See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
GroundConvenience
Store
335.00 sq m
(3,606 sq ft)
CO-OPERATIVE
GROUP FOOD
LIMITED
(CRN IP26715R)
(1)
15 years from
27th December
2012 until 2027
(2)
£89,00027th December 2022.
Reviewed in line with RPI
subject to a minimum of
1% and a maximum of
4% per annum exclusive.
Total
335.00 sq m
(3,606 sq ft) (3)
  £89,000 rising to a minimum of
£93,539 pax in December 2022

(1) Co- Operative Food Group Limited are one of the worlds largest consumer co-operatives, owned by millions of members. and are the UKs fifth biggest food retailer with more than 2,500 local, convenience and medium-sized stores nationwide.
(Source: www.co-operative.coop/about-us/our-co-op)
(2) The lease provide fpr a tenant option to determine the lease on 27th December 2022 on serving 6 months written notice.
(3) The floor area above has been stated in the headlease.

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
    21.04.21
    File Size
    10 MB
    Login to View
  • Catalogue Page
    Updated Date
    16.04.21
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    16.04.21
    File Size
    866 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 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854 +44 (0)7824 705 955billy.struth@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

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