London Road, London, SW16

LOCATION: - The property is situated fronting London Road in Norbury with an impressive frontage in a prominent position. The property shares the vicinity with a mixture of multiple and local occupiers with Papa John's, Paddy Power Costa, Coffee, and several others nearby. London Road forms part of the main A23 commuter route and the property benefits from vast quantities of passing vehicular traffic and a good deal of pedestrian flow created by nearby retailers. The property finds itself within a densely populated residential catchment which the property is able to service. Norbury station is within walking distance and there is a great deal of investment taking place in the immediate surroundings.

DESCRIPTION: - The property comprises a ground corner premises with return frontage arranged as retail space and rear storage. The ground floor is arranged as a mainly open plan sales area currently laid out as a delicatessen / supermarket. In addition to the sales area, there is some ground floor ancillary storage to the rear. The property has good ceiling heights, suspended ceilings, and a highly visible frontage.

ACCOMMODATION: -
Gross frontage 7.9m (26ft)
Return frontage 11.2m (37ft)
Shop depth 22.3m (73ft)
Width 8.9m (29ft) reducing to 6.45m (21ft to rear of sales area)
Sales area 89.797m2 (966ft2)
Rear ancillary 26.72m2 (287ft2ft)
WC

TENURE: -The property is to be offered by way of an assignment of the existing 15-year lease beginning on 3 September 2013 and due to end on 2 September 2028. We therefore believe that there is a remaining term of 3½ years approximately remaining. We understand that the lease is within the security of tenure provisions of the Landlord and Tenant Act 1954 Part II (as amended).

USE/PLANNING: - We understand the property currently falls within Class E of the current Town and Country Planning (Use Classes) Order and is currently used as a delicatessen. The property is considered suitable for a wide variety of uses.

Interested parties should make enquiries of the local authority in respect of their intended use prior to offer.

PASSING RENT: - We understand the passing rent to be £23,000 (twenty-three thousand pounds) per annum exclusive as of the last rent review in 2023. We also understand that the current lease allows for 5-yearly rent reviews with the next review due on 3 September 2028.

PREMIUM: - Premium offers are sought.

BUSINESS RATES: - The property has a rateable value of £22,250. Interested parties should make enquiries of the Valuation Office Agency regarding the rates payable.


EPC RATING: - A new EPC has been commissioned and will be made available upon request.

VAT: - We understand that the property is not currently elected to VAT.

VIEWINGS: -Viewings by prior arrangement - please telephone