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Lot 24

Gross Yield 10%
6 Week Completion

Situation

Located to the rear of the well established retail thoroughfare of Brighton Road and linking Balaclava Road with Victoria Avenue in this sought after residential and commercial area.
Surbiton lies nearby the A3 approx. 1¼ miles south of Kingston-upon-Thames and approx. 11 miles south-west of central London.

PROPERTY & ACCOMMODATION

A Single Storey Lofty Building currently used for Sales and Storage (see Note 1) with sliding loading doors directly on to Electric Parade.

GIA Approx. 1,240 sq ft.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring to L. Mead and L. E. Mead (see Note 1) for a term of 10 years from 29th September 2018 (excl. s.24-28 of L&T Act 1954 - renewal of previous lease - in occupation since at least 1998) at a current rent of £14,000 per annum exclusive rising to £15,000 p.a. in September 2022.

Note 1: The tenants use the property for sales and storage of items in conjunction with their bed business that trades from the interconnecting shop located directly in front of the property at 43/45 Brighton Road. For the avoidance of doubt, 43/45 Brighton Road is not included in the Freehold Title being offered.

Note 2: There may be potential to convert the property to office or residential use, subject to obtaining possession and the necessary consents.

*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.

9 & 10 Electric Parade, Surbiton, Surrey KT6 5NT