5 yearly RPI linked rent reviews collared at 2% and capped at 4%
Next Rent Review November 2022 - minimum rental uplift to £90,779 pa
Less than 150 yards from Clapham Common and Clapham South Underground Station
Highly desirable residential location with future Change of Use/Redevelopment Potential (subject to lease & consents)
VAT-free London Investment
Lot 10
Auction 16th June 2021
Rent £82,222 per Annum Exclusive
Status Sold
Price £1,620,000
Sector Medical/Healthcare
Auction Venue Live Streamed Auction
On Behalf of a Major Fund Manager
Property Information
Location
Miles
4 miles south-west of Central London
Roads
A3, A24, A205
Rail
Clapham South (Northern Line)
Air
London Heathrow, London Gatwick
Situation
Clapham is a vibrant and popular south-west London district approximately 4 miles south west of Central London. The property is located on the north side of Cavendish Road, less than 150 yards from Clapham Common and 0.2 miles from Clapham South Underground Station (Northern Line) in a predominantly residential location.
Tenure
Freehold.
Location
Miles
4 miles south-west of Central London
Roads
A3, A24, A205
Rail
Clapham South (Northern Line)
Air
London Heathrow, London Gatwick
Situation
Clapham is a vibrant and popular south-west London district approximately 4 miles south west of Central London. The property is located on the north side of Cavendish Road, less than 150 yards from Clapham Common and 0.2 miles from Clapham South Underground Station (Northern Line) in a predominantly residential location.
Tenure
Freehold.
Description
The property comprises a double-fronted Victorian terraced house arranged over the ground and first floors. The property currently comprises six kitchens, seven bedrooms, three bathrooms and a reception room and used as assisted housing. The property also benefits from a garden at the front and the rear of the property.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
C. See legal pack at www.acuitus.co.uk.
Description
The property comprises a double-fronted Victorian terraced house arranged over the ground and first floors. The property currently comprises six kitchens, seven bedrooms, three bathrooms and a reception room and used as assisted housing. The property also benefits from a garden at the front and the rear of the property.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
C. See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First
Residential (6 kitchens, 7 bedrooms, 3 bathrooms and a reception room)
113.70 sq m 91.00 sq m
(1,224 sq ft) (980 sq ft)
SIG INVESTMENTS with a guarantee from SOCIAL INTEREST GROUP (1)
20 years from 10/11/2017 expiring 09/11/2037 on a full repairing and insuring lease
£82,222
RPI linked rent review in November 2022 and 5 yearly thereafter (collared at 2% pa and capped at 4% pa)
Total
204.70 sq m
(2,204 sq ft)
£82,222
(1) For the year ending 31/03/2020, Social Interest Group reported a turnover of £18,094,000, pre-tax profit of £299,000 and total assets of £4,009,000 (NorthRow 19/05/2021). The Social Interest Group (SIG) is a leading UK based charity, providing bespoke person centred social and health care solutions, with about 240 units of accommodation, over 400 qualified staff and over 30 services across London, Bedfordshire and East Sussex (source: socialinterestgroup.org.uk).
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.