Unit 6, Mitcham Industrial Estate Streatham Road Mitcham London CR4 2AP

Unit 6, Mitcham Industrial Estate
Streatham Road
Mitcham
London
CR4 2AP

Virtual Freehold Industrial Investment

Entirely let to First Choice Bakers Limited until 2022
Located within established industrial estate
Busy South London location
Benefits from rights to car parking
Six Week Completion

Lot
39
Auction
17th October 2013
Rent
£70,000 per Annum Exclusive
Status
Sold
Price
£597,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP
On behalf of Joint LPA Receivers, Jones Lang LaSalle

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Virtual Freehold Industrial Investment

Entirely let to First Choice Bakers Limited until 2022
Located within established industrial estate
Busy South London location
Benefits from rights to car parking
Six Week Completion

Lot 39
Auction 17th October 2013
Rent £70,000 per Annum Exclusive
Status Sold
Price £597,000
Sector
Industrial, Warehouse
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP
On behalf of Joint LPA Receivers, Jones Lang LaSalle

Property Information

Location

Miles: 6 miles north-west of Croydon, 8 miles south of Central London, 8 miles east of Kingston-upon-Thames
Roads: A216, A217, A23, A24
Rail: Mitcham Eastfields, Tooting & Streatham Common Rail
Air: London Heathrow Airport, London City Airport

Situation

The property is situated within the established Mitcham Industrial Estate on Streatham Road (A216.) The property benefits from good communication links being within close proximity of both the A23 and A24 which provide direct access to London and the M25 (Junction 7). Nearby occupiers include FedEx, Screwfix and Storage King.

Tenure

Virtual Freehold. Held for a term of 999 years from 25th March 1996 at a rent of £200 per annum.

Location

Miles: 6 miles north-west of Croydon, 8 miles south of Central London, 8 miles east of Kingston-upon-Thames
Roads: A216, A217, A23, A24
Rail: Mitcham Eastfields, Tooting & Streatham Common Rail
Air: London Heathrow Airport, London City Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from 25th March 1996 at a rent of £200 per annum.

Description

The property comprises a ground floor warehouse unit with first floor office accommodation. The property benefits from a roller shutter door and rights to park 5 cars.

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 Receives are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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 First	Warehouse Office	813.08 sq m 150.87 sq m	(8,752 sq ft) (1,624 sq ft)	FIRST CHOICE BAKERS LIMITED (1)	10 years from 30/03/2012 until 29/03/2022 (2)	£70,000 (3)	30/03/2017
Totals		963.95 sq m	(10,376 sq ft)			£70,000 (3)

(1) For the year ending March 2012, First Choice Bakers Ltd reported a turnover of £1,546,135, pre-tax profits of £27,186 and total net worth
of £149,816 (Source: www.riskdisk.com 16/09/2013).
(2) The lease provides an option to determine on the fifth anniversary of the term.
(3) For the purposes of clarification the tenant is currently benefiting from a concessionary rent of £35,000 p.a.x. This is due to expire on
29th March 2014. The seller has agreed to adjust the completion monies so that the unit will effectively produce £70,000 p.a.x. from
completion of the sale.