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London SE5 - Freehold Retail & Residential Ground Rent Investment

For sale: £550,000.00|1,227 Sq Ft|Residential, Retail, Retail - High Street, Mixed Use, Other, Other Property Types & Opportunities

Property details

FOR SALE£550,000.00
SIZE1,227 Sq Ft
ADDRESSBetfred, 62 Denmark Hill, London, Greater London, SE5 8RZ
TYPEResidential, Retail, Retail - High Street, Mixed Use, Other, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON28th November 2021

Description

Investment Consideration:
Gross Initial Yield: 5.98%
Rental Income: £32,900 p.a.
Comprises ground floor shop with ancillary accommodation at basement and two residential flats above (sold-off)
Blue chip tenant, break clause in 2021 NOT exercised. Term certain income for the next 5 years. Thereafter, Betfred may extend and/or Lidl may be interested in taking the lease
Highly attractive micro-location - the premises are enveloped by Lidl on three sides, driving heavy footfall, and an easyGym above - attractive for any tenant
Located within 8 minute walk from Denmark Hill Train Station
Nearby occupiers include Lidl and Easy Gym (adjacent), NatWest, McDonald’s, Subway and Costa Coffee, amongst others

Property Description:
The property comprises ground floor betting shop with ancillary accommodation at basement and 2 x 1-bedroom residential flats (sold-off) at first and second floor. VAT is applicable to this property

The property provides the following accommodation and dimensions:
Ground Floor: Betting Shop 73.40 sq m (790 sq ft)
Basement: Ancillary 40.60 sq m (437 sq ft)
* Note: The commercial unit can be purchased as a Virtual Freehold (999 year leasehold to a SIPP investor. Price On Application (POA).

Tenancy:
The retail shop is at present let to Done Brothers Ltd * (Cash Betting) t/a Betfred for a term of 15 years from 17th October 2011 at a current rent of £32,500 per annum and the lease contains full repairing and insuring covenants. Break clause in 2021 NOT exercised. The first and second floor residential flats have been sold-off on long leaseholds for a term of 125 Years from 25th March 2012. Rent doubles every 25 years. Reversion 2137.
* Note - For the year ending 27 September 2020 Done Brothers (Cash Betting) Ltd reported a turnover of £300,796,000 pre-tax profit of £158,563,000, shareholders funds of £157,295,000 and a net worth of £135,153,000

Location:
Camberwell is a densely populated suburb of South East London approximately 3 miles South of Central London. The area is served by the A215 and A202. Public transport links are excellent with a number of bus routes and a stop outside the property. Denmark Hill Railway Station is some 8 minutes walk from the property. Nearby occupiers include Lidl and Easy Gym (adjacent), NatWest, McDonald’s, Subway and Costa Coffee, amongst others

Location

marker
Location: Betfred, 62 Denmark Hill, London, Greater London, SE5 8RZ

Oval (1.1 miles)

Brixton (1.2 miles)

Kennington (1.2 miles)

Denmark Hill (0.3 miles)

Loughborough Junction (0.6 miles)

East Dulwich (1.0 miles)

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