Conveniently Located Opposite Streatham Common Station
Affluent South West London Suburb
Lease Outside the Security of Tenure Provisions of the Landlord and Tenant Act 1954
Lot 7
Auction 3rd November 2022
Rent £20,000 per Annum Exclusive
Status Sold
Price £230,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 miles south of Brixton, 3 miles south-west of Dulwich Village, 10 miles south-west of Central London
Roads
A23 (Streatham High Road), A205 - South Circular Road
Rail
Streatham Common Railway Station, Norbury Railway Station
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is located in the highly popular and desirable south London suburb of Streatham. and situated on the busy corner of Ellison Road and Greyhound Lane (B272) directly opposite Streatham Common Station which runs trains to Victoria and London Bridge and has over 3.84million entries and exits (2019-2020). Neighbouring occupiers include a gastro Public House, artisan coffee shop, an estate agents and a mix of independent cafes and local retailers.
Tenure
Virtual Freehold. Held for a term of 999 years at a fixed peppercorn ground rent.
The freehold of the property with an income of about £5,000 pa may be available by separate negotiation.
Location
Miles
2 miles south of Brixton, 3 miles south-west of Dulwich Village, 10 miles south-west of Central London
Roads
A23 (Streatham High Road), A205 - South Circular Road
Rail
Streatham Common Railway Station, Norbury Railway Station
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is located in the highly popular and desirable south London suburb of Streatham. and situated on the busy corner of Ellison Road and Greyhound Lane (B272) directly opposite Streatham Common Station which runs trains to Victoria and London Bridge and has over 3.84million entries and exits (2019-2020). Neighbouring occupiers include a gastro Public House, artisan coffee shop, an estate agents and a mix of independent cafes and local retailers.
Tenure
Virtual Freehold. Held for a term of 999 years at a fixed peppercorn ground rent.
The freehold of the property with an income of about £5,000 pa may be available by separate negotiation.
Description
The property comprises a commercial unit on the ground floor of a newly developed residential building. The property benefits from being served by a communal heat pump. We understand that the tenant has plans to place tables on the forecourt.
VAT
VAT is applicable to this lot.
Note
As to the residential flats, the tenants have been served notice pursuant to Section 5B of the Landlord and Tenant Act 1987 to accept the offer, the tenants had until 29th August 2022 to respond to the notices. As no tenants have responded to the notices within the timeframe (or not at all), the tenants are not able to exercise their rights of pre-emption on this sale.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a commercial unit on the ground floor of a newly developed residential building. The property benefits from being served by a communal heat pump. We understand that the tenant has plans to place tables on the forecourt.
VAT
VAT is applicable to this lot.
Note
As to the residential flats, the tenants have been served notice pursuant to Section 5B of the Landlord and Tenant Act 1987 to accept the offer, the tenants had until 29th August 2022 to respond to the notices. As no tenants have responded to the notices within the timeframe (or not at all), the tenants are not able to exercise their rights of pre-emption on this sale.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Review/(Reversion)
Ground
Retail
59.89
(644)
DAVID'S DELI LIMITED (CRN 13413703) t/a David's Deli
10 years from 23/11/2021 (1)
£20,000
23/11/2026 (22/11/2031)
Total Approximate Floor Area
59.89
(644) (2)
£20,000
(1) The lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954. The lease provides for a mutual option to determine the lease at the end of the 5th year anniversary of the term upon serving 6 months written notice. A 6 month rental deposit is held by the Seller reducing to 3 months after 2 years. (2) The floor areas stated above are those published by the Valuation Office Agency.
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.
