No longer on the market
This property is no longer on the market
MapRetail property (high street)
Retail property (high street)
7,328 sq ft / 681 sq m
Features and description
- Prominent unbroken parade of 7 retail shops for sale
- Development potential (subject to consents)
- Pre-app submitted for 3 commercial units and 21 flats
- Total current rent reserved £132,000 p.a.
Location:
The parade occupies a prime position on the eastern side of Streatham High Road (A23), opposite its junction with Tooting Bec Gardens (A214). Streatham is a densely populated West London suburb in the London Borough of Lambeth. It is 1.2 miles south of the A205 (South Circular Road) which provides excellent access into Greater London including Dulwich and Clapham. It is well served by public transport links including Streatham Railway Station (0.2 miles) and Streatham Hill (0.7 miles). Numerous bus routes serve Streatham High Road which provide access to Brixton Underground Station (Victoria Line).
Description:
The subject premises comprise an unbroken parade of 7 retail shops with ancillary upper parts as part of the commercial leases, arranged over ground and first floor level. The units are individually let on FR&I leases. For further detail, please find the tenancy schedule on the following page.
User:
We believe the premises fall under Class E of The Town and Country Planning (Use Classes) (Amendment) (England) Regulations 2020.
Key Features:
(1) The Vendor submitted a Planning Pre-Application for a scheme comprising three ground floor commercial units and 21 flats over first, second, third and part fourth floors. Following feedback from the council, the proposal is being revised to comprise 6 ground floor commercial units and 18 flats over three upper floors. The property may lend itself to an alternative scheme to increase the massing and/or incorporating a variety of alternative uses, subject to the existing leases and obtaining all the necessary consents. All enquiries should be made with the local authority: Lambeth Council: .
VAT – VAT is not applicable to this Lot.
Accommodation & Tenancy Schedule:
The property offers the following (NIA) approximate dimensions: -
AddressPresent LeaseAccommodationLease DetailsCurrent Rent (PA)Next Review / Reversion147-149Manna Christian Centre LtdGround Floor107.65 sq m1,159 sq ft10 years from 07.11.2014 FR& I£37,500 p.a.Reversion 2024First Floor58.8 sq m633 sq ft
Subtotal166.45 sq m1,792 sq ft151K & K Caterers LimitedGround Floor61.4 sq m661 sq ft10 years from 09.11.2017 Rent review every 5th year FR& I£19,000 p.aRent Review 2022First Floor30.45 sq m328 sq ftSubtotal91.85 sq m989 sq ft153Funeral Services Limited (t/a Co-Op Funeralcare)Ground Floor51.2 sq m551 sq ft10 years from 24.06.2018 Rent review and tenant break option in the 5th year FR& I£18,500 p.a.
The parade occupies a prime position on the eastern side of Streatham High Road (A23), opposite its junction with Tooting Bec Gardens (A214). Streatham is a densely populated West London suburb in the London Borough of Lambeth. It is 1.2 miles south of the A205 (South Circular Road) which provides excellent access into Greater London including Dulwich and Clapham. It is well served by public transport links including Streatham Railway Station (0.2 miles) and Streatham Hill (0.7 miles). Numerous bus routes serve Streatham High Road which provide access to Brixton Underground Station (Victoria Line).
Description:
The subject premises comprise an unbroken parade of 7 retail shops with ancillary upper parts as part of the commercial leases, arranged over ground and first floor level. The units are individually let on FR&I leases. For further detail, please find the tenancy schedule on the following page.
User:
We believe the premises fall under Class E of The Town and Country Planning (Use Classes) (Amendment) (England) Regulations 2020.
Key Features:
- Development potential to redevelop the whole property or add additional floors (subject to consents) (1)
- Comprising an unbroken parade of 7 shops with ancillary upper parts
- Pre-app submitted for 3 commercial units & 21 flats (1)
- Located in a popular Southwest London suburb
- In same family ownership for c.50 years
- VAT is not applicable
- Six Week Completion Available
- Total Current Rent Reserved £132,000 p.a.
- Tenure Freehold
(1) The Vendor submitted a Planning Pre-Application for a scheme comprising three ground floor commercial units and 21 flats over first, second, third and part fourth floors. Following feedback from the council, the proposal is being revised to comprise 6 ground floor commercial units and 18 flats over three upper floors. The property may lend itself to an alternative scheme to increase the massing and/or incorporating a variety of alternative uses, subject to the existing leases and obtaining all the necessary consents. All enquiries should be made with the local authority: Lambeth Council: .
VAT – VAT is not applicable to this Lot.
Accommodation & Tenancy Schedule:
The property offers the following (NIA) approximate dimensions: -
AddressPresent LeaseAccommodationLease DetailsCurrent Rent (PA)Next Review / Reversion147-149Manna Christian Centre LtdGround Floor107.65 sq m1,159 sq ft10 years from 07.11.2014 FR& I£37,500 p.a.Reversion 2024First Floor58.8 sq m633 sq ft
Subtotal166.45 sq m1,792 sq ft151K & K Caterers LimitedGround Floor61.4 sq m661 sq ft10 years from 09.11.2017 Rent review every 5th year FR& I£19,000 p.aRent Review 2022First Floor30.45 sq m328 sq ftSubtotal91.85 sq m989 sq ft153Funeral Services Limited (t/a Co-Op Funeralcare)Ground Floor51.2 sq m551 sq ft10 years from 24.06.2018 Rent review and tenant break option in the 5th year FR& I£18,500 p.a.
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