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

Lot 13 Click here for addendum

Leasehold Commercial Investment
6 week completion

Situation

Occupying a prominent position on this busy retail thoroughfare, close to the junction with Brooke Road, nearby branches of Costa, Paddy Power, Mind, Sainsburys Local, Savers, Iceland and a host of independent retailers, restaurants and coffee shops.
Stoke Newington is a highly sought-after commercial and residential area situated midway between Stamford Hill and Dalston and approximately 3½ miles north of the City of London.

Property

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

Accommodation

Ground Floor Shop
Gross Frontage 17'8"
Internal Width 15'8"
Shop Depth 36'11"
Built Depth 58'2"
WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 22nd August 1983 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to Shaw Trust Limited(the) as a Charity Shop (having approx. 30 branches) for a term of 10 years from 3rd August 2012 at a current rent of £18,000 per annum exclusive.

*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.

123 Stoke Newington High Street, Stoke Newington, London N16 0PH