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Lot 9 Click here for addendum

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

Situation

Located on the main A24 London Road, within this busy local shopping centre, close to the junction with Lloyd Road, adjacent to a McDonald's Drive-Thru, opposite a Sainsbury's Superstore and serving the surrounding residential area.
North Cheam is a popular residential suburb located between Worcester Park and Sutton approx. 14 miles from central London, enjoying excellent road communications with the A3 and A24 which gives access to the M25 (Junction 9).

Property

A mid terraced building comprising a Ground Floor Shop with internal access to Ancillary Offices/Storage (previously a Flat) at first floor level. The property includes an external Storage Area at the rear and Parking for approx. 2 cars at the front.
In additon, the property includes use of a rear service road.

Accommodation

Ground Floor Shop
Gross Frontage 18'2”
Internal Width 16'0”
Shop & Built Depth 37'0”
First Floor
Office/Storage/Kitchen/Bathroom/WC
GIA Approx. 500 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to SIG Trading Limited as a Specialist Roofing Supplier (having 49 branches - part of SIG Plc - see Tenant Profile) for a term of 5 years from 1st November 2021 (renewal of a previous lease) at a current rent of £17,000 per annum exclusive.

Note 1: The tenant has been in occupation for approx. 25 years.

Note 2: The tenant also occupies the adjacent ground floor unit.

Tenant Profile

SIG Plc was founded in 1957 and is now one of the largest suppliers of sustainable energy saving roofing & insulation products, employing over 6,800 people at 432 sites across the UK and Europe. Reported Revenue for 2021 was £2.29 billion with a pre-tax profit of £19.3m (Visit www.sigplc.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.

589 London Road, North Cheam, Surrey SM3 9AG