Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 48 Click here for addendum

(GROSS YIELD 17.3%)
6 Week completion

SITUATION

Located on the flank wall of a parade of shops and facing both the entrance to a Co-operative Food Supermarket Car Park and the busy Westwood Lane.
Sidcup lies approximately 5 miles east of Bromley and 14 miles south-east of central London.

PROPERTY

Comprising a 48 Sheet Advertising Hoarding.

VAT is NOT applicable to this Lot

TENURE

A Licence for a term of 99 years from 15th May 2008 (thus having approx. 90 years unexpired) at a peppercorn ground rent.

TENANCY

The advertising hoarding is let on licence to Palmtree Enterprises Ltd (For Y/E 31/05/15 - Pre-Tax Profit of £329,500 and Net Assets of £8.26m) for a term of 3 years from 25th March 2017 at a rent of £2,600 per annum exclusive.

*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 £1,500 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.

Advertising Hoarding, 253 Westwood Lane, Blackfen, Sidcup, Kent DA15 9PS