18 Great Suffolk Street Southwark London SE1 0UG

  • 18 Great Suffolk Street<br>Southwark<br>London<br>SE1 0UG

18 Great Suffolk Street
Southwark
London
SE1 0UG

Central London Supermarket and Retail Investment

  • Let to Sainsbury's Supermarket Ltd and Costa Ltd
  • Highly prominent convenience store and Cafe
  • Excellent location in Southwark
  • Within walking distance of several underground and national railway stations
  • Important Sainsburys rent review in December 2023
  • Nearby occupiers include Premier Inn, Hilton London Bankside, Travelodge, Holiday Inn and Tesco Express
  • Lot
    12
  • Auction
    2nd November 2023
  • Rent
    £217,260 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,980,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Joint LPA Receivers
Important Update
  • Expand
  • Photos
  • Map

Central London Supermarket and Retail Investment

  • Let to Sainsbury's Supermarket Ltd and Costa Ltd
  • Highly prominent convenience store and Cafe
  • Excellent location in Southwark
  • Within walking distance of several underground and national railway stations
  • Important Sainsburys rent review in December 2023
  • Nearby occupiers include Premier Inn, Hilton London Bankside, Travelodge, Holiday Inn and Tesco Express
  • Lot 12
  • Auction 2nd November 2023
  • Rent £217,260 per Annum Exclusive
  • Status Sold
  • Price £1,980,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Joint LPA Receivers

Property Information

Location
Miles
800 metres east of South Bank, 750 metres south of the City of London, 900 metres north of Elephant & Castle
Roads
A201, A3, A2
Rail
Southwark, Borough, London Bridge, Waterloo Railway Stations
Air
London City Airport, London Heathrow Airport, London Luton Airport
Situation

The property is located in Southwark, a busy and popular residential and office area approximately 500 metres west of Borough Market, 250 metres south of Tate Britain and 800 metres west of The Shard. The area has seen a significant transformation on recent years to become a highly fashionable and cosmopolitan hub and benefits from excellent rail communications with Southwark, Borough, London Bridge and Waterloo stations all within walking distance.
The property is situated on the western side of Great Suffolk Street, directly opposite the Premier Inn Southwark. Other nearby occupiers include Hilton London Bankside, Travelodge, Holiday Inn, Tesco Express and a Fullers Pub.

Tenure

Virtual Freehold. Held for a term of 999 years from 21/07/1989 at a current ground rent of £300 per annum.

Location
Miles
800 metres east of South Bank, 750 metres south of the City of London, 900 metres north of Elephant & Castle
Roads
A201, A3, A2
Rail
Southwark, Borough, London Bridge, Waterloo Railway Stations
Air
London City Airport, London Heathrow Airport, London Luton Airport
Situation

The property is located in Southwark, a busy and popular residential and office area approximately 500 metres west of Borough Market, 250 metres south of Tate Britain and 800 metres west of The Shard. The area has seen a significant transformation on recent years to become a highly fashionable and cosmopolitan hub and benefits from excellent rail communications with Southwark, Borough, London Bridge and Waterloo stations all within walking distance.
The property is situated on the western side of Great Suffolk Street, directly opposite the Premier Inn Southwark. Other nearby occupiers include Hilton London Bankside, Travelodge, Holiday Inn, Tesco Express and a Fullers Pub.

Tenure

Virtual Freehold. Held for a term of 999 years from 21/07/1989 at a current ground rent of £300 per annum.

Description

The property comprises a ground floor supermarket and cafe, both with a significant frontages, forming part of a larger residential building.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor supermarket and cafe, both with a significant frontages, forming part of a larger residential building.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Rent Review
18a Great Suffolk Street Ground Supermarket
410.77
(4,421)
SAINSBURY'S SUPERMARKET LTD
(1)
15 years from 11/12/2013
£161,435
11/12/2023 RPI linked rent review
(2)
18b Great Suffolk Street Ground Cafe
129.13
(1,389)
COSTA LTD
(3)
10 years from 06/01/2014
£55,825
 
Total    
539.90
(5,810)
(4)
   
£217,260
 

(1) For the year ending 04/03/2023 Sainsbury's Supermarkets Ltd reported a Turnover of £26,693,000,000, a Pre-Tax Profit of £137,000,000 and a Net Worth of £4,312,000,000 (NorthRow 11/10/2023).
(2) The rent review is linked to RPI uplifts subject to a minimum of 1% and a maximum of 4% compounded.
(3) Costa is an international coffee house chain established in 1971 operating from almost 4,000 locations (www.costa.co.uk).
(4) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.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.

Property Documents

  • Brochure
    Updated Date
    03.01.24
    File Size
    4 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Charlie PowterCharlie Powter +44 (0)20 7034 4853 +44 (0)7768 120 904charlie.powter@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Associate AuctioneersElla Farage +44 (0)2071525238 +44 (0)7827664539ella.farage@cushwake.com
Seller's Solicitors
Addleshaw Goddard LLP One St Peter's Square
Manchester
M2 3DE
Daniel Saunders (0)113 209 2320daniel.saunders@addleshawgoddard.com  John Duffy 0161 934 6655john.duffy@addleshawgoddard.com

Useful Links

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

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