Commercial Development for sale

Tenure: Freehold

ADDRESS: Capital House, 43-49 Rushey Green, and 5 Rosenthal Road London SE6 4AS
• 39009 sq ft vacant plus £180,000 pa set in .873 acres
• Rent review for 40 flats in 2010 • In City Centre & close to Railway Station
• Parking for 80 Cars
LOCATION
Rushey Green, Catford is located 8 miles South East of Central London. The main A205 South Circular runs through Catford which provides access to the main A2 and the A20, located to the North, which in turn provides access to the M25
Catford station to Cannon street Station has a journey time of 11 minutes.
The subject premises are situated on the Eastern Side of Rushey Green, which forms the A21, at its junction with Rosenthal Road
SITUATION
The property is situated in a prominent location within walking distance of the station The building has an extensive frontage onto Rushey Green, and close to multiples such as Boots, Argos and immediately opposite Lidl
DESCRIPTION
• The property comprises an office building on ground and two upper floors with ancillary basement area and car parking The office benefits from raised floors, carpets, suspended ceilings and perimeter heating with recessed lighting and secondary glazing. The floors are predominantly open plan . There are two 8 passenger lifts in the central core, with parking at the front and rear, together with basement parking. Gas central heating is provided in the building.
• 40 apartments comprising 19-2 beds and 21-1 bedroom apartments in a block of 10 floors, with entrance from Rushey Green
• Forecourt let to car wash providers-5450 sq ft
• 11482sq ft shop with parking for 22 cars
• Advertising hoarding



ACCOMMODATION

• Ground Floor: 5691 Sq feet, First Floor: 17087 sq ft., Second Floor: 16231 Sq. Ft., Total Approximate Floor Area: 39009 Sq. Ft..The ground floor office accommodation is accessed from Rosenthal Road, while the first and second floor offices are accessed from an entrance lobby on Rushey Green
Parking is available for 80 cars to the front and rear of the building and basement, with access for Basement parking
from Rosenthal Road

• 19 -2 beds and 21 -1 bedroom apartments let to London Borough of Lewisham. We understand the size of a typical one bed apartment is 399 sq ft. This is arranged above the office accommodation. The flats are built on the third to twelfth floors. All the flats have gas fired wall mounted radiators.
• Shop 11000 sq ft with parking form22 cars
• Forecourt and Kiosk 5450 sq ft


TENANCY
• OFFICE BUILDING will be vacant-currently let on temporary licence
• 40-Apartments- Let to London Borough of Lewisham at a current rent of £103,000 per annum for 80 years from 1st December 1970, with reviews every 20 years. Next rent review in December 2030,on a full repairing and insuring basis
The rent to be reviewed to Open Market Rental as defined in the lease and upward only. Assignment of the lease is permitted with landlords consent only in the last 7 years of the lease
• Shop let to LM Funerals on a 9 year lease from June 2009 at a current rent of £45,000 per annum with 3 year reviews Forecourt let to individual from 19 September 2006, for 12 years- FRI lease with 3 year rent reviews with a current rent of £26000 per annum
• Advertising hoarding let to Clear Channel at a annual rental of £6000 per annum

Total rental £180,000 per annum

PLANNING:
The vacant building was used as offices. The rateable value is currently £280200 London Borough of Lewisham
We are informed the property is not listed


TENURE: Freehold VAT IS: Not Applicable.


PRICE: £5500,000