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
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).
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
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