50 Mitcham Rd | London SW17 9NA
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50 Mitcham Rd
London SW17 9NA
Buzz Bingo · Sports & Entertainment Property For Sale · 47,503 SF
Investment Highlights
- Prime Leisure Investment let to Buzz Group Ltd
- The property is a 1930s build, Grade I listed building
- Current low rent of £423,779 p.a. equating to £8.92 psf
- Excellent South London high street location neighbouring a variety of national retailers including Sainsbury’s and Primark
- FRI Lease to Buzz Group Ltd. Unexpired term of 15.7 years. Expiry 18th December 2039
- Annual RPI uplifts collared and capped at 1% and 4% with the next rent review in December 2024
Executive Summary
A converted cinema of brick construction built in the 1930s that is Grade 1 listed. The club benefits from a smoking shelter and disabled access. The building extends 45,703 sq ft on a 0.97 acre site. There is dedicated, on-site parking that is shared with Sainsbury’s.
The property is let to Buzz Group Ltd on an FRI lease with an unexpired term of 15.7 years. Expiry 18th December 2039.
Offers invited in excess of £6,610,000 (Six Million Six Hundred and Ten Thousand Pounds). Subject to contract and exclusive of VAT for the asset. This reflects a net initial yield of 6.00% and a capital value per square foot of £140.
The property is let to Buzz Group Ltd on an FRI lease with an unexpired term of 15.7 years. Expiry 18th December 2039.
Offers invited in excess of £6,610,000 (Six Million Six Hundred and Ten Thousand Pounds). Subject to contract and exclusive of VAT for the asset. This reflects a net initial yield of 6.00% and a capital value per square foot of £140.
PROPERTY FACTS
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6% | Lot Size | 2.40 AC |
| Tenure | Freehold | Building Size | 47,503 SF |
| Property Type | Sports & Entertainment | No. Stories | 6 |
| Property Subtype | Casino | Year Built | 1930 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Tenure | Freehold |
| Property Type | Sports & Entertainment |
| Property Subtype | Casino |
| Building Class | B |
| Lot Size | 2.40 AC |
| Building Size | 47,503 SF |
| No. Stories | 6 |
| Year Built | 1930 |
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