LOCATION: – The property is situated in the centre of Penge High Street, a popular local shopping environment between Crystal Place and Beckenham. The High Street serves an extremely densely populated residential catchment in the surrounding area and the property shares the vicinity with a mixture of multiple and secondary traders. Nearby multiples include Superdrug, Coral, GDK, Pizza Hut, McDonald’s, KFC, Greggs and Betfred. There are short-term parking bays available on the High Street which encourages quick stop trade and foot-flow is further enhanced by a nearby pedestrian crossing.
DESCRIPTION: – The property comprises a ground floor lock-up shop with a small storage basement beneath. The property currently operates as an education centre but is considered suitable for a wide variety of businesses. The property has security shuttering, suspended ceiling and a rear fire exit.
ACCOMMODATION: –
Gross frontage 5.79m (19ft)
Internal width 5.60m (18ft 4)
Shop depth 13.31m (43ft 7)
Sales area 70.60m² (760ft²)
Basement 15.32m² (165ft²) approx.
Internal WC
USE/PLANNING: – We understand the property currently falls within Class E of the latest Town & Country Planning (Use Classes) Order and is considered suitable for a variety of uses.
TENURE: – The property is offered by way of an assignment of an existing Lease, for a term of 15 years from October 2018 subject to 5 yearly upward only rent reviews.
The Lease is contracted inside the security of tenure provisions of the Landlord & Tenant Act 1954, Part II, as amended.
It is possible that a new Lease may be available and interested parties should make enquiries of the letting agents in that regard.
RENT/PRICE: – The current passing rent is £25,000 per annum exclusive. This rent is due for review in October of 2023.
BUSINESS RATES: – The property has a rateable value of £20,750 from 1 April 2023. Interested parties should contact the local authority to confirm the rates PAYABLE and any transitional reliefs available. www.tax.service.gov.uk/business-rates-find/search
EPC RATING: – The property has an Energy Performance Certificate rating of 77 within Band D.
VAT: – We are advised by the landlord that the property is elected to VAT and VAT will therefore be chargeable on all rents
VIEWINGS: – Viewings by prior arrangement – please telephone 0208 681 2000.
Features
Download property details
Location
High Street, London SE20 7EZ, UK