Currently comprises Ground Floor Gym with 25 flats above
Recently Developed Attractive Building
Commercial space currently let to NEM Leisure Ltd (t/a Energie Fitness) until January 2033
Agreement for lease signed with Tesco Stores Ltd in respect of the commercial space - 15 year term at £115,000 p.a (subject to conditions)
Highly Affluent and Densely Populated South West London District
400 metres north of Clapham Junction Railway Station
Lot 13
Auction 13th July 2023
Rent £115,000 per Annum Exclusive
Status Sold
Price £1,285,000
Sector Leisure
Auction Venue Live Streamed Auction
On Behalf of Joint LPA Receivers
Property Information
Location
Miles
5 miles south west of Central London, 800 metres south west of Battersea Park,
Roads
A3205, A3220, A205, A214
Rail
Clapham Junction Railway Station (London Waterloo and Victoria)
Air
London Heathrow Airport, London Gatwick Airport, London City Airport
Situation
The property is located in the affluent and fashionable London suburb of Battersea some 5 miles south west of Central London. The property is situated on the western side of the busy Falcon Road close to its junction with York Road (A3205) which provides direct access to Nine Elms/ Vauxhall and Wandsworth. The property benefits from being less than 400 metres north of one of Britain's busiest railway interchanges, Clapham Junction Railway Station. The immediate vicinity consists of predominantly high density affluent residential housing along with local retailers, restaurants and cafes. Nearby occupiers include Greggs and JD Wetherspoons.
Tenure
Freehold.
Location
Miles
5 miles south west of Central London, 800 metres south west of Battersea Park,
Roads
A3205, A3220, A205, A214
Rail
Clapham Junction Railway Station (London Waterloo and Victoria)
Air
London Heathrow Airport, London Gatwick Airport, London City Airport
Situation
The property is located in the affluent and fashionable London suburb of Battersea some 5 miles south west of Central London. The property is situated on the western side of the busy Falcon Road close to its junction with York Road (A3205) which provides direct access to Nine Elms/ Vauxhall and Wandsworth. The property benefits from being less than 400 metres north of one of Britain's busiest railway interchanges, Clapham Junction Railway Station. The immediate vicinity consists of predominantly high density affluent residential housing along with local retailers, restaurants and cafes. Nearby occupiers include Greggs and JD Wetherspoons.
Tenure
Freehold.
Description
The property forms a newly developed building to include a commercial space on the ground floor, currently used as a gym, together with 25 flats on the upper four floors. The residential accommodation has been sold off on a long lease.
The commercial space may be suitable for alternative uses such as retail/supermarket subject to necessary consents and permissions.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property forms a newly developed building to include a commercial space on the ground floor, currently used as a gym, together with 25 flats on the upper four floors. The residential accommodation has been sold off on a long lease.
The commercial space may be suitable for alternative uses such as retail/supermarket subject to necessary consents and permissions.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.
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
Ground
Commercial (currently used as Gym)
455.95
(4,907)
currently let to NEM LEISURE LIMITED t/a Energie Fitness (1)
Agreement for lease signed with Tesco Stores Ltd - subject to conditions (3)
15 years from 12/01/2018 until 11/01/2033
£115,000
12/01/2028
First Second Third Fourth
25 Flats
-
-
MONTAGU INVESTMENTS (LONDON) LIMITED
999 years from 17/05/2019
Peppercorn
Total Approximate Commercial Floor Area
455.95
(4,907) (2)
£115,000
(1) Energie Fitness are a multi award-winning franchise brand that’s had 3 consecutive Top 10 rankings in the Elite Franchise Top 100 UK Franchises 2019-2021, securing their place as the #1 Fitness Franchise in the UK. (2) The commercial floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk). (3) The Seller has recently entered into an agreement for lease with Tesco Stores Ltd to take a lease over the entire ground floor commercial space of the building. The terms are for a 15 year lease at a headline rent of £115,000 p.a.x. subject to a rent free period. This proposed lease is subject to conditions, planning being obtained and gaining vacant possession. Full information is available within the legal pack.
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.
