Affluent South London Suburb Restaurant Investment
Let to an Italian Restaurant (t/a II Mirto) until 2034 (no breaks)
3 Yearly Rent Reviews
Affluent and Attractive South East London suburb
70m From East Dulwich Train Station (Zone 2)
VAT Free Investment
Neighbouring Occupiers include Marks and Spencer, Pret A Manger, Domino's and a mix of Local Retailers
Lot 20
Auction 13th July 2023
Rent £19,500 per Annum Exclusive
Status Sold
Price £225,000
Sector Leisure
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4 miles south of Central London
Roads
A202, A205, A2216, A2214
Rail
East Dulwich Railway (Zone 2)
Air
London City Airport, London Heathrow
Situation
The property is situated in the affluent South London Suburb of East Dulwich. The immediate locality is a mixed residential and commercial area, with the property located on the west side of Melbourne Grove at its junction with Grove Vale, just 70m away from East Dulwich Zone 2 Railway Station. Neighbouring occupiers include Marks and Spencer, Pret A Manger, Domino's and an eclectic mix of local retailers.
Tenure
Long Leasehold. Held for a term of 999 years from completion at a fixed rent reserved of one peppercorn per annum.
Location
Miles
4 miles south of Central London
Roads
A202, A205, A2216, A2214
Rail
East Dulwich Railway (Zone 2)
Air
London City Airport, London Heathrow
Situation
The property is situated in the affluent South London Suburb of East Dulwich. The immediate locality is a mixed residential and commercial area, with the property located on the west side of Melbourne Grove at its junction with Grove Vale, just 70m away from East Dulwich Zone 2 Railway Station. Neighbouring occupiers include Marks and Spencer, Pret A Manger, Domino's and an eclectic mix of local retailers.
Tenure
Long Leasehold. Held for a term of 999 years from completion at a fixed rent reserved of one peppercorn per annum.
Description
The property comprises a ground floor traditional Italian restaurant .
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Description
The property comprises a ground floor traditional Italian restaurant .
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
Ground
Restaurant
43.58
(469)
P PERU & V ANGEL (t/a II Mirto) (2)
15 years from 07/06/2019
£19,500
07/06/2025 and 3 yearly (06/06/2034)
Total Approximate Floor Area
43.58
(469)
£19,500
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/7781324000) (2) II Mirto is a traditional Italian restaurant providing both eat in and take away options to local residents (www.ilmirto.co.uk). The Seller is holding a rent deposit of £9,500.
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.
