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Lot 3
71 High Street, New Malden, Surrey KT3 4BT

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6 Week completion

SITUATION

Located opposite the junction with Kings Avenue occupying a prime trading position in this popular High Street amongst such multiples as HSBC, NatWest, Your Move, McDonald's, Waitrose, Peacocks, William Hill, Cancer Research UK and many others, with New Malden Rail Station being within close proximity.
New Malden lies approximately 6 miles south-east of Richmond and 12 miles south-west of central London and enjoys good road links via the A3.

PROPERTY

An attractive mid terraced property comprising a Ground Floor Restaurant with separate rear access to
Self-Contained Offices on the first floor.
The property includes a large rear parking area accessed via a service road.

ACCOMMODATION

Ground Floor Restaurant
Gross Frontage 17'4"
Internal Width 16'7"
Restaurant Depth 36'8"
Built Depth 81'8"
Restaurant Area Approx 608 sq ft
Kitchen Area Approx 223 sq ft
Ladies, Gents & Disabled WCs
First Floor Offices
Not inspected - 3 Rooms, WC

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Tonghouk Limited (with 2 personal guarantors) (see Note 1) as Tree Stone Kitchen (Steakhouse) for a term of 15 years from 11th November 2015 at a current rent of £25,000 per annum exclusive.

Rent Reviews 2020 & 2025

Note 1: The tenant also trades from the adjoining shop.

Note 2: There is a £12,500 Rent Deposit held.

Note 3: There is potential to create an additional floor, subject to obtaining the necessary consents.

Viewing Times

Wednesday, 18th October 2017 at 10:00am

*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.