Iceland, 74 Rye Lane & Holly Grove London SE15 5DQ

  • Iceland, 74 Rye Lane & Holly Grove<br>London<br>SE15 5DQ

Iceland, 74 Rye Lane & Holly Grove
London
SE15 5DQ

Prominent Retail Unit in Popular South-East London Location

  • Entirely let to Bejam Group Limited, guaranteed by Ice Acquisitions Limited, until 2030 (subject to option)
  • Situated adjacent to Peckham Rye Mainline Railway Station
  • Excellent retail position on Peckham's prime retail thoroughfare
  • Nearby occupiers include Peacocks, Argos, McDonald's and Santander
  • Six Week Completion Period Available
  • Rent: £103,000 per annum exclusive (gross), £102,600 per annum exclusive (net)
  • Lot
    7
  • Auction
    26th May 2011
  • Rent
    Gross: £103,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £840,000
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP
Important UpdateInterested?
  • Expand
  • Photos
  • Map

Prominent Retail Unit in Popular South-East London Location

  • Entirely let to Bejam Group Limited, guaranteed by Ice Acquisitions Limited, until 2030 (subject to option)
  • Situated adjacent to Peckham Rye Mainline Railway Station
  • Excellent retail position on Peckham's prime retail thoroughfare
  • Nearby occupiers include Peacocks, Argos, McDonald's and Santander
  • Six Week Completion Period Available
  • Rent: £103,000 per annum exclusive (gross), £102,600 per annum exclusive (net)
  • Lot 7
  • Auction 26th May 2011
  • Rent Gross: £103,000 per Annum Exclusive
  • Status Sold
  • Price £840,000
  • Sector
    High Street Retail
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Estimated District Population
19,500
Miles
3 miles south of Central London, 3 miles from East Dulwich, 2.5 miles from Greenwich
Roads
A202, A2, A205 South Circular Road, M25 (Junction 2)
Rail
Peckham Rye Railway Station and Queens Road, Peckham Railway Station
Air
City Airport
Situation

The property is situated in a prominent corner position on the western side of Rye Lane at its junction with Holly Grove. Rye Lane is the primary retail thoroughfare in Peckham with occupiers including Peacocks, Argos, McDonald's and Santander.

Tenure

Leasehold. The property is held from Network Rail under two leasehold interests The area shaded yellow is held for 99 years from 25th December 1933 until 2032 The area shaded blue is held for a term of 97 years from 25th December 1935 until 2032 An aggregate fixed rent of £400 is payable under the leases

Location
Estimated District Population
19,500
Miles
3 miles south of Central London, 3 miles from East Dulwich, 2.5 miles from Greenwich
Roads
A202, A2, A205 South Circular Road, M25 (Junction 2)
Rail
Peckham Rye Railway Station and Queens Road, Peckham Railway Station
Air
City Airport
Situation

The property is situated in a prominent corner position on the western side of Rye Lane at its junction with Holly Grove. Rye Lane is the primary retail thoroughfare in Peckham with occupiers including Peacocks, Argos, McDonald's and Santander.

Tenure

Leasehold. The property is held from Network Rail under two leasehold interests The area shaded yellow is held for 99 years from 25th December 1933 until 2032 The area shaded blue is held for a term of 97 years from 25th December 1935 until 2032 An aggregate fixed rent of £400 is payable under the leases

Description

The property comprises a ground floor retail unit with ancillary and storage accommodation on the first floor. The property benefits from a return frontage onto Holly Grove and a loading area to the rear of the property where a goods lift serves the ground and first floor. In addition to the retail unit is a self-contained warehouse which benefits from a roller shutter door and frontage to Holly Grove.

VAT

VAT is 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 retail unit with ancillary and storage accommodation on the first floor. The property benefits from a return frontage onto Holly Grove and a loading area to the rear of the property where a goods lift serves the ground and first floor. In addition to the retail unit is a self-contained warehouse which benefits from a roller shutter door and frontage to Holly Grove.

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 Reviews
Ground
Ground
First
Ground
Mezzanine
First		 Retail
Staff/Storage
Ancillary/Staff
Warehouse
Storage
Warehouse/Ancillary

361.67 sq m
50.07 sq m
287.62 sq m
172.59 sq m
48.80 sq m
148.40 sq m
(3,893 sq ft)
(539 sq ft)
(3,096 sq ft)
(1,858 sq ft)
(525 sq ft)
(1,597 sq ft)
 BEJAM GROUP
LIMITED
(guaranteed by ice
acquisitions limited)
(1) (2)
 25 years from 28.02.2005
until 2030 on a full
repairing and insuring
lease (3)
£103,000 28.02.2015 and
five yearly (4)
Totals

1,069.15 sq m

(11,508 sq ft)
 £103,000

(1) Bejam Group Limited is a subsidiary of Ice Acquisitions Limited. For the year ending 26th March 2010, Ice Acquisitions Limited reported a net worth of £54,783,000, turnover of £949,000 and pre-tax profits of £586,000 (Source: www.riskdisk.com 20/04/2011) Iceland is one of Britain's fastest-growing and most innovative retailers, recognised as one of the best companies to work for in the UK currently trading from over 700 stores across the UK. For further information, please go to www.iceland.co.uk
(2) Please note that the tenant has sublet the self-contained warehouse at the rear. The sub-tenant is not currently in occupation. For further information, please refer to the legal documents.
(3) The tenant benefits from an option to determine on the 20th anniversary of the term, on providing no less than 12 months' prior written notice.
(4) The rent is reviewed to the higher of open market rental value or an increase of 2.5% per annum compound of the initial rent.

Contacts

Associate AuctioneersJames Baruch 0203 903 7310jamiebaruch@tydusre.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

You may also be interested in

By clicking the Submit button I confirm that I would like to get updates on this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

We will keep you updated about lot xthis property.

In the meantime, if you would like to speak to the Surveyor about this property, please call on .

Are you sure you want to remove this property from your Watch List?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?