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Lot 2

Shop & Upper let to Funeral Partners Ltd
6 Week Completion

Situation

Located close to the junction with Goldsel Road in this well established parade amongst a host of local retailers and directly opposite a public car park, all serving the surrounding residential area. Swanley Rail Station (Thameslink and Southeastern) is approx. 0.4 miles to the west and Swanley Recreation Ground is within close proximity.
Swanley lies approx. 19 miles south-east of central London and benefits from excellent road links being approx. 1 mile from Junction 3 of the M25 and its intersection with the A20 and M20.

Property

A mid terraced building comprising a Ground Floor Shop, Yard and rear External Store together with internal access to Ancillary Space on the first floor.

Note 1: On 31st January 2020 Seven Oaks District Council granted Permitted Development for ‘Change of use from A1 use to combined A1 use and residential C3 use' - ref 19/03464/PAC.
The proposed scheme (which is subject to possession) provides for a shop and 3 flats (1 x studio & 2 x 1 bed).
Plans and associated documents are available from the Auctioneers.

ACCOMMODATION¹

Site Depth 94'11''
Ground Floor Shop
Gross Frontage 17'0''
Built Depth 53'4''
Area Approx. 626 sq ft
WC
Plus External Store Approx. 360 sq ft
First Floor Ancillary
Area Approx. 273 sq ft

Total Area Approx. 1,259 sq ft

¹Not inspected by Barnett Ross. Areas from VOA.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Funeral Partners Limited (see Tenant Profile) for a term of 15 years from 25th March 1995 which was subsequently extended in 2010 for an additional 9 years (holding over - see Note 2) at a current rent of £10,500 per annum exclusive.

Note 2: The lessees have indicated they would like a new lease on terms to be agreed - refer to Auctioneers.

Tenant Profile

Funeral Partners Ltd are the third largest funeral services provider in the UK, with over 200 funeral homes, more than 650 employees and overseeing over 13,000 funerals annually (Source: www.funeralpartners.co.uk).
For Y/E 30.09.18, Funeral Partners Ltd reported a T/O of £40.25m, Pre-Tax Profit of £4.2m and Shareholders' Funds of £29.4m).

*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.

35 Station Road, Swanley, Kent BR8 8ES