Ground and basement let to Baleday Limited t/a Agora Amusements until 2025 (no breaks)
Two residential flats on upper floors
Popular and busy South London Suburb
Close to Tooting Broadway Underground Station
Nearby occupiers include Carphone Warehouse, Caffe Nero, New Look, Primark and Halifax
Lot 12
Auction 22nd May 2014
Rent £76,726 per Annum Exclusive
Status Sold
Price £1,405,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers
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 situated in a prominent and busy location on the eastern side of Tooting High Street (A24), close to its junction with Mitcham Road (A217) and Tooting Broadway Station. Nearby occupiers include Carphone Warehouse, Caffe Nero, New Look, Primark and Halifax.
Tenure
Freehold.
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 situated in a prominent and busy location on the eastern side of Tooting High Street (A24), close to its junction with Mitcham Road (A217) and Tooting Broadway Station. Nearby occupiers include Carphone Warehouse, Caffe Nero, New Look, Primark and Halifax.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit used as an amusement arcade, with basement storage accommodation. Additionally there are 2 x two bed residential flats on the upper floors, accessed from a doorway to the front.
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.
Viewings
There will be block viewings for this property.
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit used as an amusement arcade, with basement storage accommodation. Additionally there are 2 x two bed residential flats on the upper floors, accessed from a doorway to the front.
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.
Viewings
There will be block viewings for this property.
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.
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/(Reversion)
Ground Basement
Retail Storage
92.73 sq m 57.04 sq m
(998.15 sq ft) (613.97 sq ft)
BALEDAY LIMITED (1) t/a Agora Amusements
13 years 5 months from 01/07/2012 until 31/11/2025 on a full repairing and insuring lease
£53,926 (2)
01/12/2020 (2)
First
Flat 1 – 2 Bed Flat
Not Measured
INDIVIDUAL
AST for 12 months from 01/07/2011
£11,400
(30/06/2012) (3)
Second
Flat 2 – 2 Bed Flat
Not Measured
INDIVIDUAL
AST for 12 months from 01/07/2011
£11,400
(30/06/2012) (3)
Totals
149.77 sq m
(1,612 sq ft)
(excluding residential floor areas)
£76,726
(1) Baleday Limited is a wholly owned subsidiary of Praesepe Holdings Limited. Praesepe is the UK’s largest chain of adult gaming centres operating from a total of 170 adult gaming centres, bingo clubs and family entertainment centres in 100 towns and cities throughout Great Britain (Source: www.cashinogaming.com 22/04/2014) (2)For the purposes of clarification, the current rent is £47,200 p.a.x. rising to £53,926 in December 2015 and £61,609 p.a.x. in December 2020. The Seller has agreed to adjust the completion monies so that the property effectively produces £53,926 p.a.x. from completion of the sale. (3)Both the residential tenants are holding over.
Contacts
Seller's Solicitors
Wedlake Bell Solicitors 52 Bedford Row London WC1R 4LR
