Virtual Freehold London Retail Investment
Virtual Freehold London Retail Investment
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.
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.
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.
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.
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 is applicable to this lot.
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.
Six week completion
The EPC will be available to view online in the solicitor’s legal pack.
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 is applicable to this lot.
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.
Six week completion
The EPC will be available to view online in the solicitor’s legal pack.
| 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.
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