Long Leasehold Nursery Investment.
Location
Royal Arsenal Riverside is one of London's most vibrant riverside communities, where beautifully restored historical buildings sit alongside contemporary new homes and a lively mix of shops, cafés and restaurants.
More than 3,975 homes have been delivered to date, with over 10,000 residents now calling the neighbourhood home. Once complete, the masterplan will deliver 480,000 sq ft of retail, leisure and workspace. This growing, family-orientated population, combined with the Government's expansion of funded childcare to 30 hours per week, underpins strong and sustained demand for nursery places within the development.
The property occupies a highly visible position within the heart of Royal Arsenal Riverside. The unit is currently operated as Zeeba Daycare, benefiting from its close proximity to a large and growing family population within the development.
Accommodation
Ground floor area: 5,135 sq ft NIA
Mezzanine area: 1,346 sq ft NIA
Outdoor play area: 2,234 sq ft NIA
Terms
Guide Price: Offers are invited in the region of £1,830,000, subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 7.0%, assuming standard purchaser's costs.
Tenure: Long leasehold. 999 years (less one day) from and including 1 February 2001, registered under title number TGL392746, currently held by Berkeley Homes (East Thames) Limited. Offered for the residue of the term less one further day.
Lease: Entire property let to Zeeba Woolwich Ltd on a lease from 20 December 2013 to 19 December 2038.
Rent: £137,000 pa. Reviewed five yearly to the greater of RPI (collared at 1% and capped at 3% per annum, compounded) or open market value.
VAT: The building has been elected for VAT. VAT is payable on the purchase price.
EPC: EPC Rating B.
Planning: Use Class E(f).
Service Charge: £1.67 psf for year ending March 2026.
Rating Assessments: Interested parties are advised to confirm the rateable value with the local authority.
Legal Costs: Each party will be responsible for its own legal costs incurred in connection with any transaction.
Specification
- Entire property let to Zeeba Woolwich Ltd on a lease from 20 December 2013 to 19 December 2038
- Passing rent of £137,000 per annum
- Reviewed five yearly to the greater of RPI (collared at 1% and capped at 3% per annum, compounded) or open market value
- Long leasehold, 999 years (less one day) from and including 1 February 2001, registered under title number TGL392746, offered for the residue of the term less one further day
- Planning Use Class E(f)
- Ground floor 5,135 sq ft, mezzanine 1,346 sq ft and outdoor play area 2,234 sq ft (NIA)
- VAT is payable on the purchase price