Units 2&3, 114 Powis Street and 7-13 Hare Street Woolwich London SE18 6NE

Units 2&3, 114 Powis Street and 7-13 Hare Street
Woolwich
London
SE18 6NE

Well Located Retail Investment

Entirely let on a renewed lease until April 2033 t/a The Better Beds Store (subject to option)
Tenant well established in this location
Ground floor shop with prominent frontage
Approx. Floor Area of 317.81 sq m (3,420 sq ft)
Busy retailing location in Woolwich Town Centre
Directly Opposite Primark with other nearby occupiers including TK Maxx, Boots, Sports Direct, Travelodge, Iceland, Lidl and Clarks

Lot
5
Auction
9th July 2024
Rent
£60,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Well Located Retail Investment

Entirely let on a renewed lease until April 2033 t/a The Better Beds Store (subject to option)
Tenant well established in this location
Ground floor shop with prominent frontage
Approx. Floor Area of 317.81 sq m (3,420 sq ft)
Busy retailing location in Woolwich Town Centre
Directly Opposite Primark with other nearby occupiers including TK Maxx, Boots, Sports Direct, Travelodge, Iceland, Lidl and Clarks

Lot 5
Auction 9th July 2024
Rent £60,000 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 1 mile south of London City Airport, 3.5 miles east of Canary Wharf
Roads: A205, A206
Rail: Woolwich Arsenal (ThamesLink, DLR and Southeastern), Woolwich (Elizabeth Line), Woolwich Dockyard (Southeastern)
Air: London City Airport, London Heathrow Airport, London Gatwick Airport

Situation

The property is located on the west side of Hare Street in a popular retailing location, directly opposite Primark in Woolwich town centre. The area benefits from excellent communication links via the A205 (South Circular) and A2 roads together with the Woolwich Ferry and Woolwich, Woolwich Arsenal and Woolwich Dockyard railway stations all being a short walk from the property. Other nearby occupiers include TK Maxx, Boots, Sports Direct, Travelodge, Iceland, Lidl, Clarks together with a large number of other national retailers and local cafes and restaurants.

Tenure

Virtual Freehold. Held from Powis Street Estates (NO3) Limited on two separate leases for a term of 999 years from 27/02/2013 at a fixed peppercorn ground rent.

Location

Miles: 1 mile south of London City Airport, 3.5 miles east of Canary Wharf
Roads: A205, A206
Rail: Woolwich Arsenal (ThamesLink, DLR and Southeastern), Woolwich (Elizabeth Line), Woolwich Dockyard (Southeastern)
Air: London City Airport, London Heathrow Airport, London Gatwick Airport

Situation

Tenure

Virtual Freehold. Held from Powis Street Estates (NO3) Limited on two separate leases for a term of 999 years from 27/02/2013 at a fixed peppercorn ground rent.

Description

The property comprises a substantial ground floor retail unit with an extensive retail frontage and forms part of a larger building.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a substantial ground floor retail unit with an extensive retail frontage and forms part of a larger building.

VAT

VAT is applicable to this lot.

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.	Rent Review
Ground	Retail	317.81	(3,420)	EXCLUSIVE FURNITURE LIMITED t/a The Better Beds Store (1)	10 years from 05/04/2023 (2)	£60,000	05/04/2028
Total		317.81	(3,420) (3)			£60,000

(1) Better Beds are local independent bed and furniture experts, being established in 1992 and currently trading from three stores and have been in occupation of this site since 2019 (www.betterbeds.co.uk).
(2) The lease provides for a Tenant option to determine the lease on 05/04/2028 upon serving 3 months written notice.
(3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).

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.