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Lot 9 Click here for addendum

Commercial Investment
Gross Yield 12.3%
Completion 1st April 2021

Situation

Occupying a prominent position in the centre of the town's main retail thoroughfare, opposite Boots Opticians and amongst multiples such as Toni&Guy, Fat Face, Specsavers, Mountain Warehouse, Barclays, Boots Pharmacy, Sainsbury's and a host of independent retailers.
Dorking is an affluent commuter town renowned for its antique shops and located approximately 5 miles from the M25 (Junction 9) via the A24 and some 22 miles south of central London, whilst Dorking Station (National Rail) provides regular rail services to central London with journey times of less than an hour.

Property

Forming part of a mid-terrace building comprising a Ground Floor Shop.

Accommodation¹

Ground Floor Shop
Gross Frontage 12'2"
Internal Width 11'4"
Shop Depth 38'2"
Built Depth 55'0"
WC

¹Not inspected by Barnett Ross.

VAT is applicable to this Lot

Tenure

Leasehold for a term of 999 years from December 2020 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to T. Mohammed as an Antiques Gallery for a term of 15 years from 1st October 2020 at a current rent of £16,000 per annum exclusive.

Rent Reviews 2025 and 2030

Note: £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.

86 High Street, Dorking, Surrey RH4 1AY