Virtual freehold investment of Three shops adjacent to each other located in Penge High Street, All shops are tenanted and will be sold together on a long 950 + leasehold. Please note the flats above are not included.
Location
Located on Penge High Street within a quarter of a mile of Penge East and Penge West railway stations.
Terms
Sublease terms for the units are as follows:
Number 35 - Currently achieving £XXX per annum rent, five yearly rent reviews with the next rent review due in 26th Feb 2025 & every 5th anniversary there after.
Number 37 - Currently achieving £XXX per annum rent, with three yearly reviews. Tenant is currently holding over.
Number 39 - Currently achieving £XXX per annum rent, three yearly rent reviews. The tenant has given notice, exiting February 5th 2023.
Uses - All E Class
Tenure - Virtual freehold with 950 + lease
Legal Cost - Each party are to be responsible for their own legal fee’s incurred.
Local Authority - Penge
Reference Charge - London Properties charges a fee of £XXX plus VAT for taking up references for proposed tenants. This fee is non-refundable after the references have been taken up, whether they are accepted or not by the Landlord.
Holding Deposit - A holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the London Properties client account.