Excellent transport links via the A205 (South Circular) and A23
Nearby occupiers include Co-Op, Superdrug and William Hill
Six Week Completion Available
Lot 7
Auction 24th May 2012
Rent £33,800 per Annum Exclusive
Status Sold
Price £352,000
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On the instructions of Joint LPA Receivers, BNP Paribas Real Estate
Property Information
Location
Miles
1 mile from Dulwich Village, 2.5 miles from Clapham Common, 5 miles from Central London
Roads
A215, A23, A205 (South Circular)
Rail
Brixton Underground (Victoria Line), West Norwood Overground, Tulse Hill Overground
Air
London Gatwick, London Heathrow
Situation
The property is situated in a prominent position on the Norwood Road, some 5 miles south of Central London. The area has extensive transport links being within close proximity of Brixton London Underground station and West Norwood and Tulse Hill railway stations (17 minutes to London Bridge). Norwood Road houses a wide range of national and local retailers including Superdrug, Co-Op, Iceland and William Hill.
Tenure
Freehold.
Location
Miles
1 mile from Dulwich Village, 2.5 miles from Clapham Common, 5 miles from Central London
Roads
A215, A23, A205 (South Circular)
Rail
Brixton Underground (Victoria Line), West Norwood Overground, Tulse Hill Overground
Air
London Gatwick, London Heathrow
Situation
The property is situated in a prominent position on the Norwood Road, some 5 miles south of Central London. The area has extensive transport links being within close proximity of Brixton London Underground station and West Norwood and Tulse Hill railway stations (17 minutes to London Bridge). Norwood Road houses a wide range of national and local retailers including Superdrug, Co-Op, Iceland and William Hill.
Tenure
Freehold.
Description
The property comprises a double fronted retail unit on the ground floor. In addition the property benefits from basement accommodation and ten self-contained residential flats on part ground and first, second, and third floors which have all been let on long leases.
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers excluding any title guarantees, warranties or indemnities. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a double fronted retail unit on the ground floor. In addition the property benefits from basement accommodation and ten self-contained residential flats on part ground and first, second, and third floors which have all been let on long leases.
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers excluding any title guarantees, warranties or indemnities. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not 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)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
Ground Basement (1)
Retail/Ancillary Ancillary
103.82 sq m 38.77 sq m
(1,118 sq ft) (417 sq ft)
DONE BROTHERS(CASH BETTING)LIMITED (2) (3)
15 years from 13/11/ 2007 until 2022
£33,000
12/11/2012 and 12/11/2017 (4)
Ground
Two Residential Flats
Not Measured
INDIVIDUAL
150 years from 01/04/2008
£200
01/04/2033 and every 25 years thereafter (5)
First, Second & Third Floors
Eight Residential Flats
Not Measured
INDIVIDUAL
99 years from 29/09/1989
£600 (6)
29/09/2022 and 29/09/2055
Totals
142.59 sq m
(1,535 sq ft)
£33,800
(1) The basement area can only be accessed via a hatch in the ground floor retail unit, but is not demised to the tenant within the terms of the lease. (2) For the year ending 27th March 2011 Done Brothers (Cash Betting) Limited reported a turnover of £4,110,480,000, a pre-tax profit of £15,512,000 and a total net worth of £48,931,000. (Source: www.riskdisk.com 03/04/2012) (3) The tenant has sublet their demise to Cheque Centres Properties Limited. (4) The rental reviews are upwards only. (5) The rental income is £100 per flat and is payable annually. The rent is to double at each review. (6) The rental income is £75 per flat and is payable twice yearly. The rent is to double at each review.
