Freehold Retail Investment with Significant Residential Development Potential
Two Retail units let to British Red Cross and Yum! III (UK) Ltd t/a Pizza Hut
Affluent and busy South London Suburb close to Forest Hill Railway Station
Significant development potential with planning permission granted in 2007 for 5 x one bedroom residential flats
Nearby occupiers include Sainsbury’s Superstore, JD Wetherspoon, Boots the Chemist
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 34
Auction 23rd March 2016
Rent £36,000 per Annum Exclusive
Status Sold Post
Price
Sector Development
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
6 miles south-east of Central London, 1.4 miles south-east of Dulwich Village
Roads
A20, A203, A205 (South Circular)
Rail
Forest Hill Railway Station (17 mins to London Bridge)
Air
London City Airport, London Heathrow Airport, London Gatwick Airport
Situation
The property is situated in a prominent position on the north side of the busy London Road (A205 South Circular Road), the arterial route through South London, and at its junction with Dartmouth Road. Forest Hill Railway Station is some 70 metres east. Neighbouring occupiers include Sainsbury’s Superstore, JD Wetherspoon, Boots the Chemist and WH Smith.
Tenure
Freehold.
Location
Miles
6 miles south-east of Central London, 1.4 miles south-east of Dulwich Village
Roads
A20, A203, A205 (South Circular)
Rail
Forest Hill Railway Station (17 mins to London Bridge)
Air
London City Airport, London Heathrow Airport, London Gatwick Airport
Situation
The property is situated in a prominent position on the north side of the busy London Road (A205 South Circular Road), the arterial route through South London, and at its junction with Dartmouth Road. Forest Hill Railway Station is some 70 metres east. Neighbouring occupiers include Sainsbury’s Superstore, JD Wetherspoon, Boots the Chemist and WH Smith.
Tenure
Freehold.
Description
The property comprises two ground floor retail units with basement ancillary accommodation. The property benefits from significant residential redevelopment potential (subject to consents). The property further benefits from rear access off Havelock Walk.
Six Week Completion
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 two ground floor retail units with basement ancillary accommodation. The property benefits from significant residential redevelopment potential (subject to consents). The property further benefits from rear access off Havelock Walk.
Six Week Completion
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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Reversion
6
Ground Basement
Retail Ancillary
61.60 sq m 27.70 sq m
(663 sq ft) (298 sq ft)
BRITISH RED CROSS (1)
10 years from 16/02/2009
£17,000
15/02/2019
8
Ground Basement
Retail Ancillary
85.10 sq m 14.80 sq m
(916 sq ft) (159 sq ft)
YUM! III (UK) LTD (t/a Pizza Hut) (2)
10 years from 20/11/2009
£19,000
19/11/2019
Totals
189.20 sq m
(2,037 sq ft)
£36,000
(1) For the year ending 31st December 2014, British Red Cross reported total funds of £135,000,000. (Source: www.redcross.org.uk 15/02/2016) (2) Yum! III (UK) Ltd is a wholly owned subsidiary of Yum! Brands Inc, one of the world’s largest restaurant companies with over 41,000 restaurants in more than 125 countries and territories, including more than 13,600 Pizza Hut restaurants in 85 countries. (Source: www.yum.com 15/02/2016).
