Entirely let to Baleday Limited until November 2025
Busy High Street location
Future residential potential on upper parts (subject to consents)
Nearby occupiers include Laura Ashley, TK Maxx, Nationwide, KFC and Boots
Located close to Intu and The Mall Shopping Centres
Rent rising to £65,264 p.a.x. in 2020
Six Week Completion
Lot 1
Auction 17th October 2013
Rent £57,124 per Annum Exclusive
Status Sold
Price £710,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square Mayfair London W1K 2HP
On behalf of Joint LPA Receivers, Philip Matthews and Edward Starling
Property Information
Location
Miles
7 miles south of the Royal Borough of Greenwich, 12 miles south-east of London Charing Cross
Roads
A21, A205 (South Circular Road), M25 (Junction 4)
Rail
Bromley South Station (Direct to London Victoria in approx 20 minutes)
Air
London City, London Gatwick, London Heathrow
Situation
The property is situated in a prominent location within Bromley town centre on the eastern side of the High Street, close to its junction with Elmfield Road. The property is within close proximity of both the major Intu and The Mall Shopping Centres which house occupiers such as Debenhams, Marks & Spencer, the Apple Store, H&M and Disney.
Tenure
Freehold.
Location
Miles
7 miles south of the Royal Borough of Greenwich, 12 miles south-east of London Charing Cross
Roads
A21, A205 (South Circular Road), M25 (Junction 4)
Rail
Bromley South Station (Direct to London Victoria in approx 20 minutes)
Air
London City, London Gatwick, London Heathrow
Situation
The property is situated in a prominent location within Bromley town centre on the eastern side of the High Street, close to its junction with Elmfield Road. The property is within close proximity of both the major Intu and The Mall Shopping Centres which house occupiers such as Debenhams, Marks & Spencer, the Apple Store, H&M and Disney.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation with self-contained office and ancillary accommodation on the first and second floors.The upper parts may be suitable for future residential conversion (subject to consents).
Note:
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail accommodation with self-contained office and ancillary accommodation on the first and second floors.The upper parts may be suitable for future residential conversion (subject to consents).
Note:
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not 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 First Second
Retail Ancillary Ancillary
141.08 sq m 61.24 sq m 42.34 sq m
(1,518 sq ft) (659 sq ft) (455 sq ft)
BALEDAY LIMITED (t/a Cashino) (1)
13 years 5 months from 01/07/2012 until 31/11/2025 on a full repairing and insuring lease
£57,124 (3)
01/12/2020
Totals
244.66 sq m (2)
(2,632 sq ft) (2)
£57,124 rising to £65,264 in 2020
(1) Cashino operates from approximately 157 venues throughout the UK. (Source: www.cashino.com 11/09/2013) (2) The first and second floor areas have been calculated on a GIA basis. (3) For the purposes of clarification the current rent is £50,000 p.a.x, rising to £57,124 p.a.x. in December 2015. The Seller has agreed to adjust the completion monies so that the property effectively produces £57,124 p.a.x. from completion of the sale.
Contacts
Seller's Solicitors
Wedlake Bell Solicitors 52 Bedford Row London WC1R 4LR
