65 Tooting High Street Tooting London SW17 0SP

65 Tooting High Street
Tooting
London
SW17 0SP

Freehold Retail and Residential Investment

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
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers

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Freehold Retail and Residential Investment

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

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

VAT

VAT is not applicable to this lot.

Viewings

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.