Ground Floor and Basement let on a new 15 year lease until 2029
Four Residential Flats let on Assured Shorthold Tenancies
Prominent corner position in popular South London location
Approximately 200 metres from Earlsfield Railway Station (13 minutes to London Waterloo)
Lot 23
Auction 9th July 2014
Rent £88,824 per Annum Exclusive
Status Sold
Price £1,150,000
Sector Leisure
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Fixed Charge Receivers
Property Information
Location
Miles
8 miles south of the City of London, 6.5 miles east of Kingston upon Thames
Roads
A3, A214, A24, M25
Rail
Earlsfield Rail, Wimbledon Park Underground (District Line)
Air
London City Airport
Situation
The property is situated in a prominent corner location on the eastern side of the busy A217 which connects Wandsworth with Tooting. The property is just south of Earlsfield Town Centre and some 200 metres from Earlsfield Rail Station which provides a direct service to London Waterloo with a journey time of 13 minutes. Nearby occupiers include William Hill, Foxtons, Barnard Marcus and a number of other independent retailers, cafés and restaurants.
Tenure
Freehold.
Location
Miles
8 miles south of the City of London, 6.5 miles east of Kingston upon Thames
Roads
A3, A214, A24, M25
Rail
Earlsfield Rail, Wimbledon Park Underground (District Line)
Air
London City Airport
Situation
The property is situated in a prominent corner location on the eastern side of the busy A217 which connects Wandsworth with Tooting. The property is just south of Earlsfield Town Centre and some 200 metres from Earlsfield Rail Station which provides a direct service to London Waterloo with a journey time of 13 minutes. Nearby occupiers include William Hill, Foxtons, Barnard Marcus and a number of other independent retailers, cafés and restaurants.
Tenure
Freehold.
Description
The property comprises a ground floor restaurant with four residential units on the upper floors with self-contained access from Trewint Street.
Note
This property is being marketed for sale on behalf of Fixed Charge 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 Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge 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 a ground floor restaurant with four residential units on the upper floors with self-contained access from Trewint Street.
Note
This property is being marketed for sale on behalf of Fixed Charge 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 Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge 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
Review/(Reversions)
Ground
Restaurant
117.00 sq m
(1,260 sq ft)
FULL LARDER LIMITED t/a Ben’s Canteen (1)
15 years from 19/02/2014 until 18/02/2029
£45,000 (2)
19/02/2019 and 19/02/2024
Basement
Kitchen/Office
49.00 sq m
(530 sq ft)
Flat A
Residential - Studio
25.36 sq m
(273 sq ft)
INDIVIDUAL
AST for 12 months from 30/04/2013
£8,100 (3)
(29/04/2014) (4)
Flat B
Residential – 1 Bed
34.84 sq m
(375 sq ft)
INDIVIDUAL
AST for 12 months from 23/08/2013
£10,800 (3)
(22/08/2014)
Flat C
Residential – 1 Bed
34.37 sq m
(370 sq ft)
INDIVIDUAL
AST for 12 months from 05/05/2014
£11,400 (3)
(04/05/2015)
Flat D
Residential – 2 Bed
42.24 sq m
(487 sq ft)
INDIVIDUAL
AST for 12 months from 01/02/2014
£13,524 (3)
(31/01/2015)
Totals
302.81 sq m (5)
(3,295 sq ft) (5)
£88,824
(1) Ben’s Canteen is an all day neighbourhood restaurant and bar with an additional branch in Battersea (Source: www.benscanteen.com 04/06/2014) (2) The tenant is currently benefitting from a concessionary rent due to expire on 18th June 2015. The seller has agreed to adjust the completion monies so that the unit will effectively produce £45,000 pax from completion of the sale. (3) The rental income for the residential flats has been annualised. (4) As the AST term has expired for Flat A, the tenant is currently on a periodic AST with a 2 month notice period. (5) The residential floor areas have not been measured by Acuitus and should not be relied upon.
