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Lot 2 Click here for addendum

Freehold Commercial/Residential Investment
In same family ownership for over 80 years
6 Week Completion

Situation

Ideally located directly opposite the Southgate Shopping Centre, Bath's “number one retail and leisure destination”, diagonally opposite Bath Spa Bus Station and close to Bath Spa Rail Station in the heart of this attractive and historic city centre. Nearby multiples include Subway, New Look, Halifax, Greggs, McDonald's and many more.
Bath is an affluent and world-famous tourist Cathedral city located approximately 11 miles south-east of Bristol.

Property

An attractive mid-terrace building comprising a Ground Floor Restaurant with internal access to 2 Dining Rooms and Office/Store Rooms on the first floor and a Self-Contained Flat on the second floor.

Accommodation

Ground Floor Restaurant
Gross Frontage 20'0”
Internal Width 17'11” (max)
Restaurant Depth 37'9”
Rear Kitchen & 2 WCs
First Floor
Front Dining Room 1 11'9” x 9'9”
Front Dining Room 2 11'9” x 9'9”
Rear Office & Store Rooms Approx. 240 sq ft
Second Floor
3 Rooms, Shower Cubicle (on Landing), Separate WC

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Li Ru Li and Linze Zhao t/a East Meets West Noodle Bar for a term of 15 years from 18th December 2020 (in occupation since 2009) at a current rent of £34,000 per annum exclusive.

Rent Reviews 2025 and 2030. Tenant's Break 2030.

Note 1: There is a £12,000 Rent Deposit held.

Note 2: The Vendor has advised that since the start of the Covid-19 pandemic, the rent has been paid in full and on time.

*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.

33 Southgate Street, Bath, Somerset BA1 1TP