Ground floor and basement let to Tesco Stores Ltd on a 20 year lease until 2032 (subject to options)
Situated in predominantly residential area within South-East London suburb
Prominent corner position
On-site car parking
Six Week Completion Available
Lot 4
Auction 6th December 2012
Rent £54,000 per Annum Exclusive
Status Sold
Price £750,000
Sector Supermarket/Convenience
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
14 miles to London City Centre
Roads
A2, A206, M25 (Junction 2)
Rail
Welling, Plumstead (30 mins to London Cannon Street).
Air
London City Airport, Gatwick Airport
Situation
The property is situated in a prominent corner location in a predominantly residential area on the western side of Queens Road, at its junction with Church Road within the London Borough of Bexley. Nearby occupiers include i Estate Agents, MSD & Associates Dental Practice, A & A Autos and Recruitment Selection.
Tenure
Freehold.
Location
Miles
14 miles to London City Centre
Roads
A2, A206, M25 (Junction 2)
Rail
Welling, Plumstead (30 mins to London Cannon Street).
Air
London City Airport, Gatwick Airport
Situation
The property is situated in a prominent corner location in a predominantly residential area on the western side of Queens Road, at its junction with Church Road within the London Borough of Bexley. Nearby occupiers include i Estate Agents, MSD & Associates Dental Practice, A & A Autos and Recruitment Selection.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with basement storage accommodation. The first floor and loft area, which has been sold off on a long lease, has planning consent for five residential flats. The property benefits from on-site car parking to the front and rear.
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 ground floor retail unit with basement storage accommodation. The first floor and loft area, which has been sold off on a long lease, has planning consent for five residential flats. The property benefits from on-site car parking to the front and rear.
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)
Tenant
Term
Rent p.a.x
Reviews
Ground Basement
Retail Storage
346 sq m 188 sq m
(3,724 sq ft) (2,023 sq ft)
TESCO STORES LTD (1)
20 years from 16/03/2012 until 2032 on a full repairing and insuring lease (2)
£54,000
16/03/2017 and five yearly thereafter
First
Residential (3)
Not Measured
INDIVIDUALS
999 year lease from 08/11/2012 until 07/11/3011
Peppercorn
Totals
534 sq m
(5,747 sq ft)
£54,000
(1) For the year ending 26th February 2011, Tesco Stores plc reported a turnover of £40,149,000,000, pre-tax profits of £2,243,000,000 and a total net worth of £10,821,000,000. (Source: www.riskdisk.com 05/11/2012) (2)There is a tenant option to determine on the tenth and fifteenth anniversary of the term. (3)The first floor and loft area have planning consent for the development of five residential flats.
Contacts
Seller's Solicitors
Glovers Solicitors LLP 6 York Street London W1U 6QD 020 7486 7666
