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Lot 18

POTENTIAL DEVELOPMENT SITE
6 Week completion

SITUATION

In a popular residential area within ½ mile of New Malden Station (Main Line) and within a short walking distance of the main shopping centre which includes multiples such as Nando's, Paddy Power, Foxtons, Pizza Express and Santander.

PROPERTY

Comprising a post war detached ‘C' shaped single storey building used for warehousing and offices.
The front building connects internally with a larger section to the rear.
There is front parking for approx. 6 cars and access through metal gates to additional parking to the rear for approx. 9 cars.

ACCOMMODATION

Site Frontage 55'2"
Site Depth 103'5"
Site Area Approx. 5,684 sq ft

Warehouse and Offices
GIA Approx. 2,276 sq ft¹ incl. 2 WCs

¹Area supplied by Vendor

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to L. E. Went Ltd (automotive paint and wood finishing distributors) for a term of 20 years from 16th November 1990 at a current rent of £20,000 per annum exclusive.

Note 1: The lessees are holding over.

Note 2: The lessees also trade from the adjoining property (No. 56) which is not included in the sale.

PLANNING

It is considered that the site would be suitable for residential development and plans (available from Auctioneers) have been drawn up for a new development of a detached block of 9 flats as follows:

Estimated GDV is approx. £3,613,500 based on sales of the above flats at £550 psf.

Planning enquiries can be made to the Royal Borough of Kingston upon Thames - Tel: 020 8547 5000.

*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 Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,000 plus 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.

52/54 Burlington Road, New Malden, Surrey KT3 4NU