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Description

RETAIL (A1) OFF LICENCE LEASE FOR SALE CLOSE TO ELEPHANT & CASTLE WITH INCOME FROM THE RESIDENTIAL UPPER PARTS

Location:
The premises are located on a busy pitch, on the East Side of Walworth Road. This location benefits with a good footfall and numerous retailers are close by, including Mc Donald’s, Abbey National, Mark One, Argos, Peacocks and Superdrug.
Description:
An entire mid terraced property, arranged over ground floor, rear yard, first and second floors, providing the approximate dimensions and floor areas as follows:
Net Frontage:
12’6” (3.8 m)
Gross Frontage:
16’1” (4.9 m)
Shop Depth:
44’5” (13.2 m)

Ground Floor Sales:
530 sq ft (49.09 sq m)
Storage / Ancillary:
595 sq ft (55.1 sq m)
Rear Yard (Not measured):
1,500 sq ft (139.3 sq m)
Two Bedroom Maisonette:
Half Landing Bathroom:
7’10” X 7’2” (2.4m X 2.2m)
First Floor:
Bedroom One:
17’5” X 13”9’ (5.3m X 4.2m)
Kitchen:
12’6 X 10’10” (3.8m X 3.3m)
Second Floor:
Bedroom Two:
17’5” X 13’9” (5.3m X 4.2m)
Lounge:
12’6 X 10’10” (3.8m X 3.3m)
Terms:
Assignment of our client’s existing 21-year leasehold interest from June 1993, at a passing rental of £22,500 per annum exclusive. There is a rent review due in June 2008 and rent reviews are three yearly intervals.
Rental Income from the First and Second Floor Maisonette:
This is currently let out on an informal basis, producing £12,000 per annum, our client advises us that he has agreed a two weeks notice to vacate, exercisable by either party.
Premium:
Upon Application.
Business Rates:
From information supplied by the client, the Business Rates for 2006 / 2007 is
c. £4,500.