53 / 55 London Road, Morden London SM4 5HT

53 / 55 London Road, Morden
London
SM4 5HT

London Retail and Residential Leasehold Investment

Two retail units and four residential flats entirely let to Superdrug Stores Plc
Opposite Morden Underground Station (Northern Line) and Bus Station
Popular South West London Suburb
Nearby occupiers include Iceland, Lidl, KFC and Oxfam

Lot
32
Auction
14th February 2018
Rent
Gross: £74,000 per Annum Exclusive
Status
Sold
Price
£616,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of Colliers Capital

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London Retail and Residential Leasehold Investment

Two retail units and four residential flats entirely let to Superdrug Stores Plc
Opposite Morden Underground Station (Northern Line) and Bus Station
Popular South West London Suburb
Nearby occupiers include Iceland, Lidl, KFC and Oxfam

Lot 32
Auction 14th February 2018
Rent Gross: £74,000 per Annum Exclusive
Status Sold
Price £616,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of Colliers Capital

Property Information

Location

Miles: 2 miles south-east of Wimbledon, 9 miles south-west of Central London
Roads: A24
Rail: Morden Underground (Northern Line)
Air: London Heathrow Airport

Situation

Morden is an attractive South West London suburb some 9 miles from Central London. The property is located diagonally opposite Morden Underground Station, on the main retail pitch of London Road (A24). Nearby occupiers include Iceland, Lidl, KFC and Oxfam.

Tenure

Leasehold. Held from Dhamecha Foods Limited for a term of 99 years expiring 14/12/2033 at a fixed rent of £1,275 per annum. The freehold is held by The Mayor & Burgesses of the London Borough of Merton.

Location

Miles: 2 miles south-east of Wimbledon, 9 miles south-west of Central London
Roads: A24
Rail: Morden Underground (Northern Line)
Air: London Heathrow Airport

Situation

Tenure

Description

The property comprises two ground floor retail units and four self-contained residential flats arranged on first and second floors. The residential accommodation is accessed via a separate entrance to the rear of the property. The property benefits from a rear yard with parking for approximately 5 cars.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

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
53-55 55 53a 55a 53b 55b	Ground Ground First First Second Second	Retail/ Ancillary Retail Residential Residential Residential Residential	258.45 sq m 20.25 sq m 3 Rooms, Kitchen and Bathroom 3 Rooms, Kitchen and Bathroom 3 Rooms, Kitchen and Bathroom 3 Rooms, Kitchen and Bathroom	(2,782 sq ft) (218 sq ft)	SUPERDRUG STORES PLC (1) (2)	5 years from 25/01/2017 on a full repairing and insuring lease	£74,000	24/01/2022
Total Commercial Area			278.70 sq m	(3,000 sq ft)			£74,000

(1) For the year ending 31 December 2016, Superdrug Stores Plc reported a turnover of £1,213,600,000, pre-tax profits of £80,385,000 and a total net worth of £86,291,000 (Source: Experian Group 15/01/2018). Superdrug became part of the AS Watson family in October 2002 and are the United Kingdom's second largest beauty and health retailer, currently operating approximately 800 stores in England, Scotland, Wales, Northern Ireland and the Republic of Ireland (Source: www.superdrug.com 15/01/2018).
(2) 55 London Road has been sublet at a rent of £12,000 per annum and is trading as PhotoBerry. We understand two residential flats have been sublet on Assured Shorthold Tenancies with a total rent of £22,200 per annum.