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Lot 44

(GROSS YIELD 10%)
6 Week completion

SITUATION

Occupying a busy trading position opposite the junction with Hamlet Road within this well established shopping parade near a Tesco Express and a variety of local traders as well as being just a short walk of the open spaces at Crystal Palace Park.
Crystal Palace is located just north of Croydon and approximately 6 miles south-east of central London, benefitting from good transport links via Crystal Palace Mainline Station being just a few hundred yards away.

PROPERTY

Forming part of a parade comprising a Ground Floor Double Shop.

ACCOMMODATION

Ground Floor Double Shop
Gross Frontage 31'4"
Internal Width 27'11"
Shop & Built Depth 10'8"
WC

VAT is NOT applicable to this Lot

TENURE

Leasehold for a term of 125 years from 25th December 2002 (thus having approx. 109 1/2 years unexpired) at a current ground rent of £400 p.a. doubling every 25 years.

TENANCY

The property is let on a full repairing and insuring Law Society lease to S. Tregear as a Vape Shop for a term of 6 years from 20th February 2013 at a current rent of £8,700 per annum exclusive.

Note 1: The tenant did not exercise the 2016 Break Clause.

Note 2: £2,500 Rent Deposit held.

*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.

51–53 Anerley Road, Crystal Palace, London SE19 2AS