 Location & Description | |
| A three storey mid terrace building forming part of a local parade comprising a ground floor cafe with separate front access to a self-contained upper part with seven individual bedsit rooms. On the north side of the A201 and within walking distance of the Elephant & Castle shopping centre as well as the Elephant & Castle underground (Bakerloo Line) and mainline stations, the property also has good road access to Tower Bridge which gives easy access to the city. | |
| Accommodation | |
| Ground Floor Cafe | |
| Total area approx 500 sq ft (46.4 sq m), kitchen, store, WC, 32 covers | |
| Let on a repairing and insuring lease to Mr Abdullah (t/a Cafe Reality) for a term of 19 years from 01.06.1996 at a rental of £10,400 p.a. exclusive. Rent review in 2011. | |
| Part Ground, First & Second Floor Upper Part | |
| Second Floor: 3 bedsit rooms, bathroom/WC | |
| First Floor: 4 bedsit rooms, bathroom/WC | |
| Ground Floor: Kitchen/Dining area | |
| At the time of printing we have been unable to view any legal documentation but are advised that three of the seven bedsits are let on ASTs for a term of 12 months from 01.09.2009 at a total equivalent combined rent of £15,600.12 p.a. | |
| EQUIVALENT TO £26,000.12 p.a. plus 4 VACANT bedsits | |
| Contact: 020 8520 8383 | |
| Joint Auctioneer | Field & Sons Tel: 020 7234 9639 Attn: Ian Lim Esq |
| GUIDE PRICE: £425,000 - £450,000 | |
| Announcements |
| The lessee on the ground floor shop is Ali Ergun. The special conditions have been amended because the sellers are offering both the freehold (177 New Kent Road) and the long lease of the first floor flat (177a ) at the Auction. Please see the NEW set which should also include a schedule of sub-tenancies. |
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