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Lot 4

On behalf of Executors
6 Week Completion

Situation

Located within this retail parade near to the junction with the High Street which houses a variety of national multiple retailers including Wilko, Costa, Greggs and many others, all serving the surrounding residential area. New Malden Railway Station (South Western Railway) is less than a ½ mile away.
New Malden is a prosperous suburb approx. 9 miles south-west of central London, benefiting from good transport links via the A3.

Property

A deep mid-terrace building comprising a Ground Floor Shop with a Rear Restaurant (28 covers) together with separate rear access to a Self-Contained Flat on the first and second floor levels with uPVC double glazing. In addition, the property benefits from 1 parking space at the rear of the property which is accessed via a service road.

VAT is NOT applicable to this Lot

FREEHOLD

Tenant Profile

Established in 1999, Korea Foods have since grown to become the leading importer of Korean food in the UK and offer the widest range of Korean products in the UK and have a growing range of Japanese, Chinese and Thai products.
Their main warehouse is in New Malden.
Under the retail name of ‘Seoul Plaza' they can be found in 9 locations. They also trade under the ‘Korea Foods' banner. (Source: www.koreafoods.co.uk).
For Y/E 30/06/18, Korea Foods reported a T/O of £28.7m, Pre-Tax Profits of £528,046 and Shareholders' Funds of £688,327.

*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.

126 Malden Road, New Malden, Surrey KT3 6DD