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Lot 24 Click here for addendum

8 week completion

Situation

Located in Crowborough town centre adjacent to Morrisons and The Original Factory Shop, close to WHSmith, Santander, Boots Pharmacy, Costa Coffee and a host of local traders.
Crowborough lies approx. 21 miles north east of Brighton, 24 miles south of Croydon and benefits from good road links via the A26.

Property

A mid terraced building comprising a Ground Floor Restaurant with internal access to Ancillary Accommodation at first floor level (see Note).

Accommodation

Ground Floor Restaurant (60 covers)
Gross Frontage 13'10"
Internal Width 12'8"
widening at rear to 20'9"
Restaurant Depth 51'4"
First Floor
Kitchen/Prep Area Approx 520 sq ft
4 WC's

Tenancy

The entire property is let on a full repairing and insuring lease to Sefa Karatay t/a Hattusa as a Turkish Restaurant (having 4 branches incl. 2 in Sevenoaks and 1 in Tunbridge Wells - visit www.hattusa.co.uk) for a term of 20 years from 4th September 2018 at a current rent of £16,000 per annum exclusive.

Rent Reviews 2023 and 5 yearly

VAT is applicable to this Lot

FREEHOLD

Note 1: There may be potential to convert the first floor to Residential Use under Permitted Development similar to other units in the parade, subject to obtaining possession and the necessary consents. There is already an external fire escape staircase at the rear which leads out on to the High Street.

Note 2: There is a £4,000 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.

1a Belmont Buildings, High Street, Crowborough, East Sussex TN6 2QB