Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 12 Click here for addendum

Freehold Commercial Investment
6 Week Completion

Situation

Located close to the junction with Central Avenue in the heart of the town's pedestrianised retail thoroughfare, adjacent to Boots Opticians and amongst other such multiples as Starbucks, Vodafone, WHSmith, Holland & Barrett, Betfred and others. In addition, the property is situated directly opposite the entrance to the Forum Shopping Centre.
Sittingbourne lies on the A2 some 45 miles south-east of London and 12 miles from Maidstone.

Property

A mid terraced building comprising a Ground Floor Shop with internal access to Ancillary Store on the first floor. In addition, the property includes a Rear Yard.

VAT is NOT applicable to this Lot

FREEHOLD

Accommodation

Ground Floor Shop
Gross Frontage 26'3''
Internal Width 23'3''
narrowing at rear to 20'11''
Shop Depth 56'5''
Built Depth 67'7''
Area Approx. 1,190 sq ft
2 WCs
First Floor Area
Ancillary Store Approx. 555 sq ft
Total Area Approx. 1,745 sq ft

Tenancy

The entire property is let on a full repairing and insuring lease to Greggs Plc (having over 2,000 branches) (T/O for Y/E 02/01/21 £811.3m, Pre-Tax Loss £13.7m and Shareholders' Funds £321.6m) for a term of 5 years from 26th August 2021 (renewal of a previous lease - in occupation since 2010) at a current rent of £26,000 per annum exclusive.

Enquire about this lot:

JOINT AUCTIONEER:
Estate Management London
Tel: 020 7930 9333 Ref: Sven Weinast
s.weinast@emluk.com

*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.

95-97 High Street, Sittingbourne, Kent ME10 4AJ