301-311 Railton Road and Arches to the Rear Herne Hill London SE24 0JN

301-311 Railton Road and Arches to the Rear
Herne Hill
London
SE24 0JN

Unbroken Retail Parade and Railway Arches Investment

5 Retail Units and 5 Railway Arches
Adjacent to Herne Hill Railway Station
Affluent South East London Location
Asset Management Opportunities
Important Forthcoming Rent Reviews
Tenants include a Builders Centre, Popular Music Venue, Supermarket, Dry Cleaners and Delicatessen

Lot
15
Auction
22nd September 2022
Rent
Gross: £157,705 per Annum Exclusive
Net: £144,205
Status
Sold
Price
£1,305,000
Auction Venue
Live Streamed Auction

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Unbroken Retail Parade and Railway Arches Investment

5 Retail Units and 5 Railway Arches
Adjacent to Herne Hill Railway Station
Affluent South East London Location
Asset Management Opportunities
Important Forthcoming Rent Reviews
Tenants include a Builders Centre, Popular Music Venue, Supermarket, Dry Cleaners and Delicatessen

Lot 15
Auction 22nd September 2022
Rent Gross: £157,705 per Annum Exclusive Net: £144,205
Status Sold
Price £1,305,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 1 mile south east of Brixton, 2 miles east of Clapham Common, 5 miles south-east of Central London
Roads: A215, A205, A23
Rail: Herne Hill Railway Station (Thames Link), North Dulwich Railway Station
Air: London Heathrow Airport, London Gatwick Airport

Situation

Herne Hill is a highly affluent and popular suburb in south east London. The property is prominently located on the east of Railton Road which provides the main approach to Herne Hill Railway Station and the popular Brockwell Park. The station provides excellent footfall to the immediate area with approximately 2.95 million annual entries and exits and direct trains to London Victoria Station.

Tenure

Leasehold. Held from The Arch Company Properties Limited for a term of 99 years from 15/10/1965 at ground rent of £13,500 per annum subject to a rent review in 2028. Full information on the rent review provisions will be available within the legal pack.

Location

Miles: 1 mile south east of Brixton, 2 miles east of Clapham Common, 5 miles south-east of Central London
Roads: A215, A205, A23
Rail: Herne Hill Railway Station (Thames Link), North Dulwich Railway Station
Air: London Heathrow Airport, London Gatwick Airport

Situation

Tenure

Description

The property is currently arranged as a parade of 5 retail units with 5 railway arches to the rear. The retail units comprise ground floor retail accommodation and first floor ancillary accommodation. Tenants include a builders centre, delicatessen, cobblers, supermarket and a dry cleaners. The ground floor railway arches units currently comprise a popular live music venue and bar trading as Off The Cuff, 2 workshops and a music rehearsal and recording studio.

VAT

VAT is 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 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 sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Reviews/(Reversion)
301/303	Ground First	Retail Ancillary	63.25 58.70	(680) (631)	INDIVIDUALS t/a Herne Hill Builders Centre	15 years from 28/09/2019 (1)	£20,755	28/09/2024 28/09/2029 (28/09/2034)
305	Ground First	Retail Ancillary	41.06 31.30	(442) (336)	INDIVIDUAL t/a Dulwich Cobblers	15 years from 01/02/2021 (1)	£13,052	01/02/2026 01/02/2031 (01/02/2036)
307	Ground First	Retail Ancillary	41.10 33.70	(442) (362)	INDIVIDUAL t/a Sesami Delicatessen	15 years from 21/02/2020 (1)	£13,506	21/02/2025 21/02/2030 (21/02/2035)
309	Ground First	Retail Ancillary	42.00 32.10	(452) (345)	INDIVIDUALS t/a I A A Supermarket	15 years from 01/09/2001	£10,500	Holding Over
311	Ground First	Retail Ancillary	40.80 32.10	(439) (345)	INDIVIDUAL t/a Dulwich Dry Cleaners	15 years from 15/03/2010 (1)	£10,500	(15/03/2025)
644/645	Ground	Live Music Venue	193.88	(2,086)	OTC HOLDINGS LTD t/a Off The Cuff Live Music Venue (4)	10 years from June 2022	£65,000	(June 2032)
646	Ground	Workshop/Storage	91.35	(983)	INDIVIDUAL	10 years from March 2014	£8,924	(March 2024)
647	Ground	Workshop/Storage	83.19	(895)	INDIVIDUAL t/a Guybon Ltd	10 years from March 2014 (2)	£5,814	(March 2023) (2)
648	Ground	Music Studio	75.80	(815)	INDIVIDUAL t/a DTM Rehearsal Space Ltd	10 years from September 2019	£9,600	01/09/2024 (September 2029)
Total Approximate Floor Area			858.47	(9,125) (3)			£157,705

(1) The lease provides for a tenant option to determine the lease on the 3rd and 6th anniversaries.
(2) A surrender of the lease has been agreed with the tenant to vacate no later than 31/03/2023.
(3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
(4) Off The Cuff is a live music bar in the heart of Herne Hill, offering an array of events throughout the week. OTC was Winner of ‘Best Bars’ in Time Out’s Love London Awards 2015. (offthecuffbar.co.uk).A separate license is in place to occupy the outdoor area. Please see the legal pack for further details.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.