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Lot 40
58 High Street, New Malden, Surrey KT3 4EZ

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6 Week completion

SITUATION

Occupying a busy trading position close to the junction with Kings Avenue amongst a variety of local traders and multiples such as McDonald's, Waitrose, Boots Opticians, Peacocks, NatWest, HSBC, William Hill, Lloyds Bank, Specsavers, and many others.
New Malden lies approximately 6 miles south-east of Richmond and 12 miles south-west of central London with excellent road links via the A3.

PROPERTY

A mid terrace building comprising a Ground Floor Coffee Shop with a separate rear access to a Self-Contained Flat on the first and second floors. In addition the property includes a Rear Yard with parking for approx. 2 cars, accessed via a service road at the rear.

ACCOMMODATION

Ground Floor Coffee Shop
Gross Frontage 19'10"
Internal Width 18'3"
Shop Depth 47'10"
Built Depth 56'7"
Sales Area Approx. 810 sq ft
Store Area Approx. 120 sq ft
WC
First & Second Floor Flat
3 Bedrooms, Living Room, Kitchen, Bathroom/WC

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Kyeong Ja Park as a Coffee Shop for a term of 10 years from 23rd October 2012 at a current rent of £35,000 per annum exclusive.

Rent Review October 2017 (Outstanding)

Note 1: £17,500 Rent Deposit Held.

Note 2: There is clear potential to extend at the rear, subject to obtaining planning and possession.

*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.