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

Lot 1

Freehold Commercial/Residential Investment
In same family ownership since 1934
6 Week Completion

Situation

Located close to the junction with Surrey Road, in a good trading position in this retail thoroughfare, diagonally opposite Sainsburys and nearby branches of Costa Coffee, Subway, M&S Foodhall, Savers, WH Smith, Nationwide, Barclays, Lloyds Bank and a host of local traders.
West Wickham lies some 12 miles south-east of central London, situated midway between Croydon and Bromley and the property is located less than a mile from West Wickham Station (Southeastern Rail).

Property

A mid terrace building comprising a Ground Floor Restaurant with a Deep Rear Extension (built circa. 1991) together with separate rear access to a Self-Contained Flat on the first and second floors.

Accommodation

Ground Floor Restaurant
Gross Frontage 16'3”
Internal Width 15'7”
narrowing to 14'4”
Built Depth 88'0” (incl. 56'9” rear extension)
2 WCs
First & Second Floor Flat
Nort inspected - Believed to be 5 Rooms, Kitchen, Bathroom/WC

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to M. Yadiz t/a Topolino Italian Restaurant for a term of 20 years from 24th June 2006 at a current rent of £22,500 per annum exclusive (see Note 1).

Note 1: If the tenant assigns the lease, the rent increases to £24,500 p.a.

Note 2: The Freehold of the adjoining property (No. 128) is also being offered for sale in this Auction - See Lot 2.

Enquire about this lot:

*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.

130 High Street, West Wickham, Kent BR4 0LZ