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SEND School, Penge

2 Blean Grove, Penge, London, SE20 8QU

Summary

• LOCATION
  SOUTH EAST LONDON
• SECTOR
  EDUCATION
• SITE
  0.35 ACRES
• SIZE
  4,857 SQ FT
• TENURE
  FREEHOLD
• TENANT
  ACORN NORFOLK LTD
• GUARANTOR
  ACORN CARE AND EDUCATION LTD
• COVENANT
  £293M SHAREHOLDERS FUNDS
• UNEXPIRED TERM
  23.5 YEARS
• PASSING RENT
  £165,000 PER ANNUM
• RENT REVIEW
  RPI LINKED (1%-4%)
• CAP EX SPENT
  £1M IN 2025
• PRICE
  £2,585,000
• NIY
  6.00%
• UNDERPINNED BY
  RESIDENTIAL VALUES
• ESG
  FULLY ELECTRIC EPC B

More Information

• LOCATION

  Penge is a suburb of South East London in the London Borough of Bromley. It is situated approximately 7 miles south east of Central London and benefits from two train stations. The Property is situated in an attractive position on the north side of Blean Grove to the north west of its junction with Maple Grove immediately adjacent to Penge Recreation Ground.

• DESCRIPTION

  The Property comprises a brand newly refurbished best in class special education needs school following an extensive refurbishment programmecompleted in 2025 at a cost of circa £1.0m by the tenant/guarantor.The nursery offers outstanding facilities across a large self-containedsite of 0.35 acres. The internal accommodation comprises 4,857 sq ft,arranged over ground and first floors.The site benefits from a private forecourt providing car parking for 5 vehicles including 2 EV charging points.

• TENANCY

  The Property is let to Acorn Norfolk Limited, guaranteed by Acorn Education & Care Limited, on a new 25 year FRI lease from 14 June 2024, expiring on 13 June 2049 (no breaks), providing a long unexpired term of 23.5 years.The passing rent is £165,000 per annum and is subject to 5 yearly to RPI rent reviews, with a collar and cap of 1% and 4%.The next rent review is the 14 June 2029.

ADS RE Ltd (ADS RE) on its own behalf and on behalf of the vendors / lessors of the properties whose agent ADS RE is, gives notice that:1 (a) All particulars provided are given as a general outline only for the guidance of the intending purchaser, lessee or tenant, and do not constitute in whole or in part, an offer of contract for sale or lease; (b) Whilst all particulars of properties given including but not limited to descriptions, dimensions, references to condition and necessary permissions for use and occupation and maps are believed to be correct and are given in good faith, they are however given without responsibility. None of the statements contained in these particulars as to the property are to be relied upon as statements or representations of fact; (c) The vendor / lessor does not make or give, and neither ADS RE nor any of its members or any person in its employment has any authority to make or give any representation or warranty whatsoever in relation to any properties. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor / lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor / lessor and a purchaser or tenant. 2 Prospective purchasers / lessees or tenants should not rely on any particulars provided and are strongly advised to; (a) Satisfy themselves by inspection or otherwise as to the correctness of each statement contained in these particulars; (b) Inspect the property and the neighbouring area; ensure that any items expressed to be included are available and in working order; (c) Arrange a full measured, structural (and where appropriate environmental) survey of the property; and (d) Carry out all necessary searches and enquiries. March 2026