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Lot 5 Click here for addendum

Commercial Investment
6 Week Completion

Situation

Located on the busy A24 London Road forming part of this well established shopping area, amongst multiples such as Ladbrokes and Topps Tiles and a variety of independent traders, close to the junction with Hamilton Avenue.
North Cheam is a popular and sought-after suburb of the London Borough of Sutton, located approximately 11 miles south-west of central London and 5 miles south-east of Kingston-upon-Thames.

Property

Forming part of this fully occupied retail parade comprising a Ground Floor Shop and a Rear Yard/Parking Area. On street parking is available to the front and a rear service road provides access for deliveries and unloading.

Accommodation

Ground Floor Shop
Gross Frontage 15'0"
Internal Width 15'0"
Shop Depth 26'9"
Built Depth 43'6"
WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 25th December 2001 at a fixed ground rent of £100 p.a.

Tenancy

The property is let on a full repairing and insuring lease to J. Gao as a Chinese Take-Away for a term of 18 years from 17th June 2020 at a current rent of £12,500 per annum exclusive.

Rent Reviews 2024 and 4 yearly (based on OMV or the CPI Index).

Rent Deposit £5,000 (to be held for 3 years from June 2020).

*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.

830 London Road, North Cheam, Surrey SM3 9BJ