2 Mitcham Road Tooting Broadway London London SW17 9NA

2 Mitcham Road
Tooting Broadway
London
London
SW17 9NA

Retail and Office Investment

Majority Let to Starbucks until 2022 (subject to option)
Busy and popular South West London suburb
Immediately adjacent to Tooting Broadway Station
Active management potential
Neighbouring occupiers include Sainsbury’s, Primark, New Look, Barclays Bank, Caffè Nero,Car Phone Warehouse and South Thames College
Six Week Completion Period Available

Lot
30
Auction
18th October 2012
Rent
Gross: £80,500 per Annum Exclusive
Status
Sold
Price
£525,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Retail and Office Investment

Majority Let to Starbucks until 2022 (subject to option)
Busy and popular South West London suburb
Immediately adjacent to Tooting Broadway Station
Active management potential
Neighbouring occupiers include Sainsbury’s, Primark, New Look, Barclays Bank, Caffè Nero,Car Phone Warehouse and South Thames College
Six Week Completion Period Available

Lot 30
Auction 18th October 2012
Rent Gross: £80,500 per Annum Exclusive
Status Sold
Price £525,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 6 miles south-west of the West End of London, 7 miles east of Kingston Upon Thames
Roads: A24, A205 (South Circular Road), A217
Rail: Tooting Broadway Underground (Northern Line)
Air: London City, London Heathrow, London Gatwick

Situation

The property is prominently situated immediately adjacent to Tooting Broadway Underground Station at the major intersection between A217 and A24. The property is in a strong trading location along with neighbouring occupiers such as Sainsbury’s, Primark, New Look, Barclays Bank, Caffè Nero, Car Phone Warehouse and South Thames College.

Tenure

Leasehold. Leasehold. Held from London Underground Limited for a term of 99 years from 25th December 1927 until 2026 on a full repairing and insuring lease at a current rent reserved of £550 per annum exclusive. (2)

Location

Miles: 6 miles south-west of the West End of London, 7 miles east of Kingston Upon Thames
Roads: A24, A205 (South Circular Road), A217
Rail: Tooting Broadway Underground (Northern Line)
Air: London City, London Heathrow, London Gatwick

Situation

Tenure

Description

The property comprises a retail unit on the ground floor with ancillary accommodation in the basement. The first floor comprises office accommodation that extends over the entrance to the station and is accessed via Tooting High Street.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Basement	Retail	80.98 sq m 14.54 sq m	(872 sq ft) (157 sq ft)	STARBUCKS COFFEECOMPANY (UK) LIMITED (1)	10 years from 27/03/2012 until 2022 (2)	£68,500	2017
First	Office	152.66 sq m	(1,672 sq ft)	ROBYN MOIRA LYNCH (t/a Kenwright and Lynch Solicitors	Holding Over (2) (3)	£12,000
Totals		248.18 sq m	(2,672 sq ft)			£80,500

(1) Starbucks Coffee Company (UK) Limited are a global company that operates from over 17,000 stores in more that 50 countries.There is a tenant's option to determine the lease on 27th March 2017 subject to three months notice.
(2)The Headlease provides for a rolling option to determine by the superior landlord on tendering three months notice if London Underground Limited requires the property or any part for any purpose connected with the operation of their railways or any works or with any present or future buildings of the landlord.
(3)As to the lease on the first floor there has been a new ten year lease at a rent of £25,000 proposed, this is subject to court determination.