324/324a Kennington Lane London SE11 5HY

  • 324/324a Kennington Lane<br>London<br>SE11 5HY

324/324a Kennington Lane
London
SE11 5HY

Freehold Retail and Residential Investment

  • Ground floor retail unit let until 2026 (no breaks)
  • 4 bedroom maisonette on upper floors with two roof terraces let on AST
  • Busy Central London location
  • Overlooking Vauxhall Pleasure Gardens
  • Lot
    22
  • Auction
    24th October 2019
  • Rent
    £55,900 per Annum Exclusive
  • Status
    Sold
  • Price
    £925,000
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of Trustees
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Freehold Retail and Residential Investment

  • Ground floor retail unit let until 2026 (no breaks)
  • 4 bedroom maisonette on upper floors with two roof terraces let on AST
  • Busy Central London location
  • Overlooking Vauxhall Pleasure Gardens
  • Lot 22
  • Auction 24th October 2019
  • Rent £55,900 per Annum Exclusive
  • Status Sold
  • Price £925,000
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of Trustees

Property Information

Location
Miles
2.6 miles south-west of the City of London
Roads
A3204, A3
Rail
Vauxhall Rail and Underground
Air
London City Airport
Situation

The property is located in the popular residential and commercial area of Vauxhall Cross, overlooking Vauxhall Pleasure Gardens, close to the River Thames. The property forms part of a local retail parade between Vauxhall and Kennington. Surrounding the property is a mixture of residential and office developments, with nearby occupiers including British Water and Nutmeg. The Oval Cricket Ground is also located within walking distance of the property. Kennington Lane benefits from excellent transport links, with Northern Line, Victoria Line and Overground services located within close proximity, as well as being on major bus routes.

Tenure

Freehold.

Location
Miles
2.6 miles south-west of the City of London
Roads
A3204, A3
Rail
Vauxhall Rail and Underground
Air
London City Airport
Situation

The property is located in the popular residential and commercial area of Vauxhall Cross, overlooking Vauxhall Pleasure Gardens, close to the River Thames. The property forms part of a local retail parade between Vauxhall and Kennington. Surrounding the property is a mixture of residential and office developments, with nearby occupiers including British Water and Nutmeg. The Oval Cricket Ground is also located within walking distance of the property. Kennington Lane benefits from excellent transport links, with Northern Line, Victoria Line and Overground services located within close proximity, as well as being on major bus routes.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with a self-contained four bedroom residential flat on first and second floors with two roof terraces.

VAT

VAT is not applicable to this lot.

Note

NB. 322 Kennington Lane is Lot 32, 326 Kennington Lane is Lot 12 and 334 Kennington Lane is Lot 1 in the catalogue

EPC

Available at acuitus.co.uk

Description

The property comprises a ground floor retail unit with a self-contained four bedroom residential flat on first and second floors with two roof terraces.

VAT

VAT is not applicable to this lot.

Note

NB. 322 Kennington Lane is Lot 32, 326 Kennington Lane is Lot 12 and 334 Kennington Lane is Lot 1 in the catalogue

EPC

Available at acuitus.co.uk

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/Reversion
Ground Retail
75.60 sq m
(813 sq ft)
DEANVALE LTD
with personal
guarantee (1)
15 years from
15/11/2011
£17,500 29/09/2021
(28/09/2026)
First and
Second
Residential
109.59 sq m
(excluding
roof terraces)
(1,179 sq ft)
(excluding
roof terraces)
INDIVIDUAL AST from 18/09/2019 £38,400 (2) (17/09/2020)
Totals
185.19 sq m
(1,992 sq ft)
    £55,900  

(1) The tenant operates a cafe and catering business from the unit and is currently in the process of the refurbishing the cafe area.
The tenant has recently taken a lease of the adjoining property's (322) rear yard to extend their outdoor seating area.
(2) The rent has been annualised.

Contacts

Seller's Solicitors
Thomson & Bancks 1 Mansell Street
Stratford upon Avon
CV37 6NR
Robert Davies 01789 295 544robertd@tbsolicitors.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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