229 and 229a Walworth Road Elephant & Castle London SE17 1RL

  • 229 and 229a Walworth Road<br>Elephant & Castle<br>London<br>SE17 1RL

229 and 229a Walworth Road
Elephant & Castle
London
SE17 1RL

Freehold Retail and Residential Investment

  • Mixed use building comprising shop and two residential units
  • Retail unit let to Mind UK until October 2028 (2023 break not exercised)
  • October 2023 commercial rent review outstanding
  • Residential accommodation on the upper three floors let on AST's
  • Excellent Central London location
  • Busy retailing position
  • Nearby occupiers include Marks & Spencer, Morrisons, Tesco, KFC, McDonald's, Specsavers and Sports Direct
  • VAT Free Investment
  • Lot
    10
  • Auction
    13th December 2023
  • Rent
    £81,539 per Annum Exclusive
  • Status
    Available
  • Guide*
    Contact Us
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

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

Freehold Retail and Residential Investment

  • Mixed use building comprising shop and two residential units
  • Retail unit let to Mind UK until October 2028 (2023 break not exercised)
  • October 2023 commercial rent review outstanding
  • Residential accommodation on the upper three floors let on AST's
  • Excellent Central London location
  • Busy retailing position
  • Nearby occupiers include Marks & Spencer, Morrisons, Tesco, KFC, McDonald's, Specsavers and Sports Direct
  • VAT Free Investment
  • Lot 10
  • Auction 13th December 2023
  • Rent £81,539 per Annum Exclusive
  • Status Available
  • Guide* Contact Us
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
1 mile south east of Waterloo, 1.5 miles south of the City of London
Roads
A2, A3, A201
Rail
Elephant & Castle Railway and Underground Station, Kennington Underground Station, Oval Underground Station
Air
London Heathrow Airport, London Gatwick Airport, London City Airport
Situation

The property is located just south of Elephant & Castle, one of London's most desirable up and coming neighbourhoods. The property is prominently situated on the eastern side of Walworth Road (A215), a busy and well established retailing thoroughfare linking Elephant & Castle to Camberwell. The area benefits from one of London's largest regeneration projects in Elephant & Castle with a total of 5,000 new homes expected to be completed by 2025 and the support of excellent road and rail links. Nearby occupiers include Marks & Spencer, Morrisons, Tesco, KFC, McDonald's, Specsavers and Sports Direct.

Tenure

Freehold.

Location
Miles
1 mile south east of Waterloo, 1.5 miles south of the City of London
Roads
A2, A3, A201
Rail
Elephant & Castle Railway and Underground Station, Kennington Underground Station, Oval Underground Station
Air
London Heathrow Airport, London Gatwick Airport, London City Airport
Situation

The property is located just south of Elephant & Castle, one of London's most desirable up and coming neighbourhoods. The property is prominently situated on the eastern side of Walworth Road (A215), a busy and well established retailing thoroughfare linking Elephant & Castle to Camberwell. The area benefits from one of London's largest regeneration projects in Elephant & Castle with a total of 5,000 new homes expected to be completed by 2025 and the support of excellent road and rail links. Nearby occupiers include Marks & Spencer, Morrisons, Tesco, KFC, McDonald's, Specsavers and Sports Direct.

Tenure

Freehold.

Description

The property comprises a ground floor shop with a one bedroom studio to the first floor, and a one bedroom maisonette to the second and third floors which is currently utilized as two bedroom accommodation. The residential accommodation is accessed through a private gated courtyard to the rear via Waleorde Road.

VAT

VAT is not applicable to this lot.

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 shop with a one bedroom studio to the first floor, and a one bedroom maisonette to the second and third floors which is currently utilized as two bedroom accommodation. The residential accommodation is accessed through a private gated courtyard to the rear via Waleorde Road.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

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

Tenancy & Accommodation

Address Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Rent Review
229 Walworth Road Ground Retail
81.02
(872)
MIND
(1)
10 years from 12/10/2018
£35,000
12/10/2023
229a Walworth Road
Flat 1
First 1 bed studio
37.50
(403)
INDIVIDUALS 12 month AST from 29/07/2023
£19,500
 
229a Walworth Road
Flat 2
Second/Third 1 bed Maisonette
currently utilized as 2 beds
64.00
(688)
INDIVIDUAL 12 month AST from 04/04/2023
£27,039.96
 
Total    
182.52
(1,963)
(2)
   
£81,539.96
 

(1) Mind UK is a well known mental health charity founded in 1946, currently operating from over 150 stores across England and Wales (www.mind.org.uk).
(2) The commercial floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk), and the residential areas are provided by the Seller.

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
    12.12.23
    File Size
    55 MB
    Login to View
  • Brochure
    Updated Date
    03.01.24
    File Size
    7 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
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
Seller's Solicitors
Howard Kennedy LLP No.1 London Bridge
London
SE1 9BG
Vanessa Laundon +44(0)20 3755 5562Vanessa.Laundon@howardkennedy.com  Antonia Frangakis +44(0)20 3755 5453Antonia.Frangakis@howardkennedy.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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