Freehold Amusement Centre and Residential Investment in Popular South West London Suburb
Excellent location less than 100 metres from Tooting Broadway Underground Station (Northern Line)
Part let to Atlantic Amusements Limited on new lease from June 2019 expiring in August 2034
Valuable self-contained 2 bedroom maisonette above let on AST accessed from the front
Opposite Primark and close to Aldi, Lidl, Sainsbury's, Iceland, Boots the Chemist,
JD Sports, Wilko, McDonald's, Caffè Nero and various banks
Busy South West London suburb
Lot 31
Auction 11th July 2019
Rent £84,000 per Annum Exclusive
Status Sold
Price £1,350,000
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
3 miles north-east of Wimbledon
6 miles south-west of Central London
Roads
Tooting High Street (A24), A217,
South Circular (A205)
Rail
Tooting Broadway (Underground), Tooting Station
Air
London City & London Heathrow
Situation
Tooting is a busy, popular suburb and commuter area of South West London, six miles south-west of Central London and one mile from Wandsworth Common. The property is located on the southern side of Mitcham Road, in a prime trading position less than 100 metres from Tooting Broadway Underground Station (Northern Line). The property is situated opposite Primark and close to Aldi, Lidl, Sainsbury's, Iceland, Boots the Chemist, JD Sports, Wilko, McDonald's, Caffè Nero and various banks.
Tenure
Freehold. XX
Location
Miles
3 miles north-east of Wimbledon
6 miles south-west of Central London
Roads
Tooting High Street (A24), A217,
South Circular (A205)
Rail
Tooting Broadway (Underground), Tooting Station
Air
London City & London Heathrow
Situation
Tooting is a busy, popular suburb and commuter area of South West London, six miles south-west of Central London and one mile from Wandsworth Common. The property is located on the southern side of Mitcham Road, in a prime trading position less than 100 metres from Tooting Broadway Underground Station (Northern Line). The property is situated opposite Primark and close to Aldi, Lidl, Sainsbury's, Iceland, Boots the Chemist, JD Sports, Wilko, McDonald's, Caffè Nero and various banks.
Tenure
Freehold. XX
Description
The property comprises a three storey building, arranged as a ground floor amusement centre with a self-contained maisonette arranged over the first and second floors, accessed from the front.
VAT
VAT is applicable to this lot.
Completion Period
TBC
EPC
Available from the legal pack at acuitus.co.uk
Description
The property comprises a three storey building, arranged as a ground floor amusement centre with a self-contained maisonette arranged over the first and second floors, accessed from the front.
VAT
VAT is applicable to this lot.
Completion Period
TBC
EPC
Available from the legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Amusement Centre
198.25 sq m
(2,134 sq ft)
ATLANTIC AMUSEMENTS LIMITED (1) t/a Vegas Gold
A term of years from June 2019 to expire on 7th August 2034 (2)
£70,000
Minimum rental uplift to £75,000 pax or OMV, whichever is the greater on 8th August 2024, then an upward only open market rent review on 8th August 2029
First/Second
Maisonette
2 bedroom maisonette
INDIVIDUALS
AST for 12 months from 01/12/2016 at £1,200 pcm (holding over)
£14,400 (3)
Total Commercial Area
198.25 sq m
(2,134 sq ft)
£84,400
(1) For the year ending 31st March 2018, Atlantic Amusements Limited reported a total net worth of £5,570,443 (Source: Experian Group 12/06/2019). (2) The lease provides a tenant option to determine on 7th August 2029. (3) Annual Equivalent Rent.
