40 Tooting High Street Tooting London SW17 0RG

40 Tooting High Street
Tooting
London
SW17 0RG

  • 40 Tooting High Street<br>Tooting<br>London<br>SW17 0RG

Freehold Retail and Office Investment in Popular South West London Suburb

  • Located less than 50 metres from Tooting Broadway Underground Station (Northern Line)
  • Betting Office plus three floors of separately accessed offices above
  • Tenants include Ladbrokes, Blue Arrow Recruitment, a recently let Education/Training Centre and a firm of Solicitors
  • Future Residential conversion potential of upper parts (subject to leases & consents)
  • Nearby occupiers include Aldi, Primark, Boots the Chemist and Sainsbury's.
  • First time on the market for over 30 years
  • Lot
    9
  • Auction
    18/May/2022
  • Rent
    £205,862 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
3 miles north-east of Wimbledon, 6 miles south-west of Central London
Roads
Tooting High Street (A24), A217, South Circular (A205)
Rail
Tooting Broadway (Underground), Tooting Station
Air
London City & London Heathrow
Situation

Tooting is a popular commuter suburb in South-West London, six miles from Central London. The property is situated on Tooting High Street, close to its junction with Garratt Lane and Mitcham Road, in the very centre of the Tooting Broadway area. The property is a very short walk from Tooting Broadway Underground Station which gives Northern Line access into Central London, with numerous bus routes that service the vicinity. Nearby occupiers include Aldi, Primark, Boots the Chemist and Sainsbury's.

Tenure

Freehold.

Location
Miles
3 miles north-east of Wimbledon, 6 miles south-west of Central London
Roads
Tooting High Street (A24), A217, South Circular (A205)
Rail
Tooting Broadway (Underground), Tooting Station
Air
London City & London Heathrow
Situation

Tooting is a popular commuter suburb in South-West London, six miles from Central London. The property is situated on Tooting High Street, close to its junction with Garratt Lane and Mitcham Road, in the very centre of the Tooting Broadway area. The property is a very short walk from Tooting Broadway Underground Station which gives Northern Line access into Central London, with numerous bus routes that service the vicinity. Nearby occupiers include Aldi, Primark, Boots the Chemist and Sainsbury's.

Tenure

Freehold.

Description

The property comprises a large ground floor betting office with separately let offices arranged on the first, second and third floors. The upper floors have separate access from Tooting High Street. The upper parts benefit from a lift to all floors & WC's on each level.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

See legal pack.

Description

The property comprises a large ground floor betting office with separately let offices arranged on the first, second and third floors. The upper floors have separate access from Tooting High Street. The upper parts benefit from a lift to all floors & WC's on each level.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

See legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x.
Ground Retail/Ancillary
142.17
(1,530)
LADBROKES BETTING & GAMING LIMITED (1)
(t/a Ladbrokes)
10 years from 16/02/2016 (2)
£102,500
First Offices
135.91
(1,463)
B. DESAI
(t/a Broadway Solicitors) (3)
5 years from 25/03/2020
£22,500
Second Education/Training Centre
135.26
(1,456)
QUICK LEARNING CENTRE LTD
(t/a MedLab Training Ltd)
10 years from 31/03/2022 with a rent review on 31/03/2027 (4)
£24,000
Third Offices
116.13
(1,250)
BLUE ARROW LIMITED
(t/a Blue Arrow) (5)
9 years from 09/05/2017 with a rent review on 08/05/2022 (5)
£22,500
Roof Cabin/Rooftop Satellite Use
-
-
EE LIMITED & HUTCHINSON 3G UK LIMITED 10 years from 21/05/2017 (6) with a rent review on 21/05/2022 to the higher of OMV or RPI
£20,362
Part of Roof space Satellite Use
-
-
UK BROADBAND LIMITED 15 years from 12/12/2016 (7) with a rent review on 12/12/2021 (outstanding) and 12/12/2026 to the higher of OMV or RPI
£14,000
Total  
529.47
(5,699)
   
£205,862

(1) Ladbrokes Betting & Gaming Limited employs 15,000 people in six countries and is one of the world’s leading betting and gaming enterprises. Ladbrokes is a market leader in retail bookmaking in the UK, Ireland, Belgium and Spain where it operates a combined total of more than 2,700 betting shops. Ladbrokes is a part of Entain plc (LSE: ENT) - one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector and a FTSE 100 company. The Group employs a workforce of more than 25,000, in 20 offices across five continents.
(2) The lease was subject to a tenant option to determine on 24/12/2020, but this was not exercised. The tenant option to determine was then moved to 24/12/2021, but this was also not exercised. The tenant option to determine was then moved to 23/06/2023.
(3) www.broadwaysolicitors.com. The first floor was originally let to B.Desai in March 2010 and the lease was subsequently renewed in March 2015 and then in March 2020.
(4) The lease is subject to a landlord & tenant option to determine on 31/03/2027. A rent deposit of £12,000 plus VAT is held by the Landlord.
(5) Blue Arrow are one of the UK's largest and earliest specialist staffing companies (www.bluearrow.co.uk). The lease is subject to a tenant only option to determine on 09/05/2023. The tenant option to determine on 09/05/2020 was not exercised.
(6) The lease is subject to a tenant option to determine at any time on or after 21/05/2022, subject to a minimum of 12 months written notice.
(7) The lease is subject to a rent review on 12/12/2026 to a landlord and tenant option to determine at anytime subject to a minimum of 18 months notice.

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

  • Solicitors Legal Pack
    Updated Date
    10.05.22
    File Size
    29 MB
    Login to View
  • Brochure
    Updated Date
    03.05.22
    File Size
    6 MB
    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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
Simmons Stein Solicitors Winston House, 2 Dollis Park
London
N3 1HG
Gary Simmons 020 8371 9600gary@simmons-stein.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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