Lloyds Pharmacy (sub-let to Gro Hair Stylist), Vauxhall

Property Description

• Virtual Freehold Investment – 2,139 sq ft
• The property is arranged over the ground floor only of Flagstaff House (Block F), occupying a set back position from the main road. The building is of concrete frame construction externally clad in masonry under a flat roof. The flat roof has been finished as a communal roof garden for the wider development and stairs leading up to the roof garden flank the north and south elevations of the subject property respectively.
• The unit has a glazed frontage extending the full length of the front elevation. The property is fitted out as a retail unit, operating as a hairdressing and nail salon. It is broadly rectangular, accessed via automatic dual access doors to the centre of the unit and two single metal framed doors to far right and left sides of the front elevation.
• Internally, the accommodation is predominantly open plan, with the hair salon and nail salon split by stud walling. There are two treatment rooms to the rear of the nail salon and a kitchen and staff room and a W/C to the southern portion of the hair salon. The hair salon has been finished to an average standard with linoleum floors with exposed concrete ceilings and walls. The nail salon and treatment rooms are finished with laminate flooring with plastered and emulsion painted walls and ceilings. Lighting is provided by a mixture of pendant and spot fittings. Heating and cooling is provided by an overhead A/C system.

Location Description

• The subject property is situated to the rear of the development fronting the A3036, directly opposite Vauxhall train, Underground and bus stations.
• Within the immediate vicinity of the property occupiers include a range of both local and national occupiers, including Tesco, the NHS and CBRE Residential.

Tenancy & Accommodation Schedule

• The property is let in its entirety to Lloyds Pharmacy Ltd on a full repairing and insuring lease from 21.12.06 to 20.12.31 without breaks at a rent of £92,642 per annum.
• The lease is subject to annual RPI linked rent reviews (receivable annually) and it is estimated that the rent will increase to approximately £130,000 in December 2026 (assuming an average 8% annual RPI).
• The property is sub-let in its entirety to Ospinamaine Ltd and Peint Ltd (trading as Gro Hair Stylist) from November 2013 on co-terminus terms.