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 Available
Guide* £625,000 - £650,000
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
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.
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.
