485 lordship lane, east dulwich, london, se22 8jy for sale retail ...
485 LORDSHIP LANE, EAST DULWICH, LONDON, SE22 8JY FOR SALE
RETAIL INVESTMENT WITH DEVELOPMENT POTENTIAL OFFERS INVITED IN EXCESS OF: £350,000 Location The property is located on the popular Lordship Lane, East Dulwich close to the junction of Dulwich Common and South Circular Road (A205). Surrounding occupiers include a mix of local and national retailers. The area is well served by public transport and conveniently situated between North Dulwich, West Dulwich and Forest Hill Rail stations which provide regular services into central London. In addition the area is well served by local buses. Description The property comprises a 3 storey building of brick construction. Sugarcraft Boutique Limited are currently in occupation of the front ground floor and basement with the benefit of a large front forecourt. The rear ground floor accommodation is currently vacant and benefits from separate rear access and services. There is potential to convert this space into a residential dwelling with potential to extending to the rear and creating a mezzanine floor (Subject to Planning). At first and second floor level there is a two bedroom, split level flat which is soon to be sold off on a long lease.
Tenancy The front ground and basement floor is let to Sugarcraft Boutique Limited for a term of 10 years on Effective Full Repairing terms from February 2016, subject to an upward only rent review at the 5th year. The rent is initially £14,000 per annum rising by £1,000 per annum until the rent review. Sugarcraft Boutique Limited have been in occupation since February 2015 and have recently negotiated a new lease to extend the term. The freeholder will also benefit from a ground rent of £350 per annum. Accommodation The shop has the following approximate net internal areas: Ground Floor Basement Total
32.12 sq. m. (346 sq. ft.) 28.81 sq. m. (310 sq. ft.) 60.93 sq. m. (656 sq. ft.)
The rear building has the following approximate gross internal areas: Rear Building Rear yard
29.07 sq. m. (313 sq. ft.) 5.79 sq. m. (62 sq. ft.)
Business Rates The commercial element will need to be reassessed for business rates purposes. Legal Costs Each party to bear their own costs incurred in the transaction. VAT Please note that VAT is not chargeable. Planning We understand the property has A1 Retail use. However, the prospective purchaser must make their own enquiries of the Planning Authority prior to entering into any form of contract. Guide Price Offers invited in excess of £350,000. EPC The unit currently has an energy rating of ‘C’. The full EPC is available to download at www.hindwoods.co.uk Viewing For further information, e-mail details, or to arrange an inspection, please contact sole agents Hindwoods, 020 8858 9303. Elliott Brighton E-mail: [email protected]
Paul Connaghan E-mail:[email protected]
“You should be aware that the Code for Leasing Business Premises strongly recommends you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The Code is available through professional institutions and trade associations or through website www.leasingbusinesspremises.co.uk”. These particulars are believed to be correct, but their accuracy is not guaranteed and they do not constitute an offer or form any part of any contract. Hindwoods and its employees have no authority to make any representation or give any warranty in relation to this property.
CG5452 “You should be aware that the Code for Leasing Business Premises strongly recommends you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The Code is available through professional institutions and trade associations or through website www.leasingbusinesspremises.co.uk”. These particulars are believed to be correct, but their accuracy is not guaranteed and they do not constitute an offer or form any part of any contract. Hindwoods and its employees have no authority to make any representation or give any warranty in relation to this property.
RETAIL INVESTMENT WITH DEVELOPMENT POTENTIAL OFFERS INVITED IN EXCESS OF: £350,000 Location The property is located on the popular Lordship Lane, East Dulwich close to the junction of Dulwich Common and South Circular Road (A205). Surrounding occupiers include a mix of local and national retailers. The area is well served by public transport and conveniently situated between North Dulwich, West Dulwich and Forest Hill Rail stations which provide regular services into central London. In addition the area is well served by local buses. Description The property comprises a 3 storey building of brick construction. Sugarcraft Boutique Limited are currently in occupation of the front ground floor and basement with the benefit of a large front forecourt. The rear ground floor accommodation is currently vacant and benefits from separate rear access and services. There is potential to convert this space into a residential dwelling with potential to extending to the rear and creating a mezzanine floor (Subject to Planning). At first and second floor level there is a two bedroom, split level flat which is soon to be sold off on a long lease.
Tenancy The front ground and basement floor is let to Sugarcraft Boutique Limited for a term of 10 years on Effective Full Repairing terms from February 2016, subject to an upward only rent review at the 5th year. The rent is initially £14,000 per annum rising by £1,000 per annum until the rent review. Sugarcraft Boutique Limited have been in occupation since February 2015 and have recently negotiated a new lease to extend the term. The freeholder will also benefit from a ground rent of £350 per annum. Accommodation The shop has the following approximate net internal areas: Ground Floor Basement Total
32.12 sq. m. (346 sq. ft.) 28.81 sq. m. (310 sq. ft.) 60.93 sq. m. (656 sq. ft.)
The rear building has the following approximate gross internal areas: Rear Building Rear yard
29.07 sq. m. (313 sq. ft.) 5.79 sq. m. (62 sq. ft.)
Business Rates The commercial element will need to be reassessed for business rates purposes. Legal Costs Each party to bear their own costs incurred in the transaction. VAT Please note that VAT is not chargeable. Planning We understand the property has A1 Retail use. However, the prospective purchaser must make their own enquiries of the Planning Authority prior to entering into any form of contract. Guide Price Offers invited in excess of £350,000. EPC The unit currently has an energy rating of ‘C’. The full EPC is available to download at www.hindwoods.co.uk Viewing For further information, e-mail details, or to arrange an inspection, please contact sole agents Hindwoods, 020 8858 9303. Elliott Brighton E-mail: [email protected]
Paul Connaghan E-mail:[email protected]
“You should be aware that the Code for Leasing Business Premises strongly recommends you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The Code is available through professional institutions and trade associations or through website www.leasingbusinesspremises.co.uk”. These particulars are believed to be correct, but their accuracy is not guaranteed and they do not constitute an offer or form any part of any contract. Hindwoods and its employees have no authority to make any representation or give any warranty in relation to this property.
CG5452 “You should be aware that the Code for Leasing Business Premises strongly recommends you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The Code is available through professional institutions and trade associations or through website www.leasingbusinesspremises.co.uk”. These particulars are believed to be correct, but their accuracy is not guaranteed and they do not constitute an offer or form any part of any contract. Hindwoods and its employees have no authority to make any representation or give any warranty in relation to this property.
