4 Robert Court, Sternhall Lane, Peckham, London, SE15 4BE
Freehold nursery & residential ground rent investment1,050,000
3,424 sq ft
investment
For Sale
Key features
- Freehold Nursery & Residential Ground Rent Investment
- Nursery premises occupied by Sunhill Day Nursery which forms part of The Old Station Nursery Group, who have 78 nurseries across England and a £55m turnover, and represent an attractive covenant strength
- Agreement in place to increase the rent to £92,989 per annum subject to completion of a schedule of lessor’s works, if implemented
- Combined rents reserved of £89,200 per annum
- Freehold ground floor nursery premises of 3,424 sq. ft GIA with 11 residential flats above sold off on individual long leasehold interests. The commercial unit has use of 4 private car parking spaces
- Let to Sunhill Daycare (Europe) Limited on a 15-year term expiring 13th November 2034, subject to a mutual break option at 3rd November 2029 at a passing rent of £87,000 per annum reflecting £25.41 per sq. ft based on the GIA, subject to review in November 2029 in line with RPI (uncapped)
- The 11 flats across the upper floors have been sold off on 125 year long leases from 24th June 2007 (107 years unexpired) with ground rents reserved of £2,200 per annum, doubling in 2032
Property Description
Robert Court is a part 3 part 4-storey mixed-use block constructed in 2008 (planning application 04/AP/1283) comprising a self-contained commercial unit at ground floor level and 11 flats over the upper floors accessed via a separate residential entrance. There is also a small rear car park accessed via an undercroft driveway at one end of the block. The commercial unit is fitted out and occupied in nursery use benefiting from extensive and active frontage along Sternhall Lane. The premises
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