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Lot 27
59 High Street, Penge, London SE20 9HW

  • Photo1

Sold: £75,000

(GROSS YIELD 10.5%)
6 Week completion

SITUATION

In this established parade close to the junction with Mosslea Road, nearby a One Stop as well as a variety of local traders, all serving the surrounding residential area being just a short walk of Penge West Overground Station.
Penge lies midway between Crystal Palace and Bromley some 6 miles south-east of Central London.

PROPERTY

Forming part of a terraced property comprising a Ground Floor Shop.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 16'2"
Internal Width 14'7" narrowing to 11'10"
Shop Depth 23'11"
Built Depth 37'1"
Kitchenette, WC

VAT is NOT applicable to this Lot

TENURE

Leasehold for a term of 99 years from 20th January 1999 (thus having approx. 81 years unexpired) at a fixed ground rent of £50 p.a.

TENANCY

The property is let on a full repairing and insuring lease to J. Cook as a Tattoo Parlour for a term from 13th December 2015 to 13th November 2022 at a current rent of £6,300 per annum exclusive.

Rent Review 2020

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Buyer or Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.